C.A.R. Opposes Another Point-of-Sale Mandate!
C.A.R. OPPOSES AB 2204 (De La Torre), which would require county lawyers to review every deed and other related documents, including CC&Rs, and remove illegal, obsolete and unenforceable restrictions from historic title records in connection with a transfer of property. County recorders would have to charge a huge fee for the review and editing of these documents. C.A.R. opposes this ill-advised measure because AB 2204 would add $500 - $1,000 in costs to transactions without actually protecting anyone from discrimination.
Existing law already invalidates any provision in a deed of real property that restricts the right of a person to sell, lease, rent, use, or occupy the property based on race, color, religion, sex, marital status, national origin, ancestry, familial status, disability, source of income, or sexual orientation.
AB 2204 has been approved by the Assembly and is currently making its way through the Senate. This bill will be voted on by the Senate Appropriations committee this THURSDAY. Your Senator is a member of this committee.
Action Item
Please call your state Senator TODAY to urge him or her to vote NO on AB 2204.
Call 1-800-961-3302 and enter your NRDS ID
Please note: if you wish to skip most of the opening message, simply enter your NRDS ID. When you are done listening to the 2nd message that includes the details about the AB 2204, just hit “1” on your phone key pad to be connected to your Senator’s office.
C.A.R. Opposes AB 2204 Because:
Current law already protects buyers and renters from discrimination. This bill ignores multiple existing responses to ancient unconstitutional covenants and deed restrictions (the latest of which was approved only last year), and instead attempts to impose a new program upon real estate transactions and Recorders. Existing mechanisms already deal with the issue effectively.
AB 2204 creates another financial burden for home buyers. Searching and purging old documents will cost literally tens of millions of dollars. These costs will be added to those which a buyer already must pay at closing, when they can least afford it.
AB 2204 would be very costly to counties. L.A. County alone estimates that it will have to read the documents related to 17,000 transactions every month! If there is only a single deed in each of these transactions that needs to be rewritten, it will cost L.A. County at least 27 new lawyers in legal costs alone. However, it is extremely unlikely that these transactions will have only a single document that needs to be rewritten since every deed and CC&R in the chain of title will have to be reviewed. Not every county is as large as L.A., but every county will have the same expensive problem. Counties will undoubtedly try to build the cost into increased recording fees, fees that will be paid by homebuyers.
AB 2204 diverts attention from critical real estate disclosures. Homebuyers are already faced with a daunting stack of disclosures and documents to sign. This bill proposes to add to that burden, but without any legal benefit.
AB 2204 seeks to erase history. Philosopher George Santayana said, “Those who cannot remember the past, are condemned to repeat it.” Rather than pretend that such egregious discrimination never existed by attempting to “sanitize” the record, isn’t it wiser for the record to reflect what happened historically so society can continue to learn from its past mistakes?
For More Information
Please contact DeAnn Kerr at deannk@car.org
Real estate drives California’s economy, government
budgets and every REALTORS’® livelihood.
REALTORS® are leaders, working tirelessly to protect clients and help them
achieve the American Dream. In today’s economy, it’s time for REALTORS® to
stand up, join together and help bring homeownership back.
C.A.R.’s Government Affairs Team Protects Our Industry
Every year, C.A.R.’s Government Affairs Team monitors thousands of bills and
proposed laws that affect REALTORS’® livelihood. REALTOR® volunteers and
professional advocates work together as a team, fighting to protect your ability
to serve clients and sell real estate.
Special Interests Threaten REALTORS®
Trial lawyers, big banks and other special interests are trying to hurt our business.
Frivolous lawsuits, higher taxes and fees and attacks on private property rights
and over-regulation of licensees as a result of the subprime lending situation are
all possible in 2008.
In fact, California’s legislative analyst has recommended
eliminating the state’s Mortgage Interest Deduction.
C.A.R.’s Government Affairs Team and the REALTOR®
Action Fund: You fight for your clients. We fight for you.
Your participation in C.A.R. and the REALTOR® Action Fund ensures organized
real estate can fight back, win and protect your business.
At the federal, state
and local levels, C.A.R.’s Government Affairs Team and the REALTOR® Action
Fund are working to ensure that you can succeed.
Individual REALTORS® Working Together Will Keep Our Industry Strong.
We know the nature of the business. It’s busy and there’s little free time. But if
every REALTOR® invests just 10 minutes a month to participate in C.A.R.’s
Government Affairs Team, we can help bring homeownership back.
Click here to see the full flyer.
Don’t miss the California Association of REALTORS® Legislative Day in Sacramento on June 4, 2008
This is a great opportunity for REALTOR’S® to meet with Legislators to discuss the issues that affect the real estate industry. You will join with fellow REALTORS® from all over the State of California to demonstrate to our elected officials the POWER of our organization.
The schedule this year is jam packed with wonderful events. Leaders of the state Legislature have been invited to address us at the Morning Briefing.
Why Attend? This is a powerful day where you experience first hand the POWER of our industry. Legislators take notice of an organization and the ability they have to rally their members to take a day off from their business to express their concerns and make sure that their voice is heard!
Why contribute to REALTOR® Action Fund?
Did you know that 30% of the proposed legislation that is introduced in Sacramento each year impacts REALTORS®?
That amounts to over 1000 bills each year, most of which affect REALTORS® liability. Your contribution to CAR’s political programs goes to support local, state and federal candidates who represent your rights and support your industry’s position on state and local issues.
Contribution Levels
$49.00- RAF minimum contribution level
$197.00 -The true cost of doing business
The transportation and lunch is free for Realtor® Action Fund Contributors.
Capital Reception- 5:30-8:00 PM
The conclusion of this great day will be the Capitol Reception. This ticketed event has been a huge success over the past few years, and is held to thank REALTORS® who contribute at least $197 a year to C.A.R.’s political activities through the REALTOR® Action Fund (RAF). It is a great opportunity to mix and mingle with Elected Officials and Realtors® from all over the State of California.
Don’t be left out! Reserve your space today!!
Contact Bielle Moore at 925-295-9232 or e-mail at biellemoore@hotmail.com
Issue: H.R. 111- Community Choice in Real Estate Act
NAR Position: Cosponsor H.R. 111
What we need from you: To send your Member of Congress a message urging him or her to cosponsor H.R. 111
What it Means:
A recent ruling by the Supreme Court allows the Office of the Comptroller of the Currency to exempt mortgage lenders and other state chartered corporations, wholly owned by national banks, from complying with certain state laws. This ruling could mean that banks, if they are ever permitted to broker real estate, might claim exemption from state real estate regulations for operating subsidiaries engaged in real estate brokerage.