Agency Listings For The Transfer Of Certain Property - Transfers In General - CA Civil Law

Section § 1086

This section explains that certain definitions from another part of the law apply here. It defines an 'agent' as someone legally allowed to act on behalf of property, such as a real estate broker with the proper license or someone with a specific license defined in the Health and Safety Code.

(a) For purposes of this article, the definitions contained in Chapter 1 (commencing with Section 10000) of Part 1 of Division 4 of the Business and Professions Code apply.

(b) An “agent” is one authorized by law to act in that capacity for that type of property and is licensed as a real estate broker under Chapter 3 (commencing with Section 10130) of Part 1 of Division 4 of the Business and Professions Code, or is a licensee, as defined in Section 18006 of the Health and Safety Code.

real estate broker licensed agent property agent real estate license Health and Safety Code Business and Professions Code acting on behalf of property authorized agent real estate regulations property transactions

(Amended by Stats. 2018, Ch. 907, Sec. 1. (AB 1289) Effective January 1, 2019.)

Section § 1087

A multiple listing service, or MLS, is a system where real estate agents and appraisers work together through a middleman (who doesn’t act as an agent or appraiser themselves). It helps agents agree on how they’ll share commissions for properties listed in the system and allows agents and appraisers to evaluate real estate values according to its rules.

A multiple listing service (MLS) is a facility of cooperation of agents and appraisers, operating through an intermediary that does not itself act as an agent or appraiser, through which agents establish express or implied contracts for compensation between agents that are MLS participants in accordance with its MLS rules with respect to listed properties in a listing agreement, or that may be used by agents and appraisers, pursuant to the rules of the service, to prepare market evaluations and appraisals of real property.

multiple listing service MLS real estate agents appraisers intermediary commission agreements cooperation market evaluations property appraisals listing agreement MLS rules

(Amended by Stats. 2018, Ch. 907, Sec. 2. (AB 1289) Effective January 1, 2019.)

Section § 1088

This section outlines rules for placing listings in a multiple listing service (MLS). A property can't be listed without the seller's permission. Agents or appraisers who enter information must ensure its accuracy and are accountable for any false or misleading statements they know or should know about. The MLS must keep these records, accessible for at least three years. This section does not change existing requirements for real estate brokers to retain documents.

(a) A listing may not be placed in a multiple listing service unless authorized or directed by the seller in the listing.

(b) If an agent or appraiser places a listing or other information in the multiple listing service, that agent or appraiser shall be responsible for the truth of all representations and statements made by the agent or appraiser of which that agent or appraiser had knowledge or reasonably should have had knowledge to anyone injured by their falseness or inaccuracy.

(c) A multiple listing service shall retain and make accessible on its computer system, if any, all listing and other information placed in the multiple listing service by an agent or appraiser for no less than three years from the date the listing was placed in the multiple listing service.

(d) This section shall not alter the obligations of a licensed real estate broker to retain documents as specified in subdivision (a) of Section 10148 of the Business and Professions Code.

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(Amended by Stats. 2019, Ch. 310, Sec. 1. (AB 892) Effective January 1, 2020.)

Section § 1089

This section indicates that the rules outlined in subdivision (d) of another law, Section 1102.1, also apply to the content of this section.

The provisions of subdivision (d) of Section 1102.1 shall apply to this article.

subdivision (d) Section 1102.1 applicability provisions legal reference integration cross-reference internal consistency regulatory compliance extended application

(Repealed and added by Stats. 2018, Ch. 907, Sec. 5. (AB 1289) Effective January 1, 2019.)

Section § 1089.5

This law states that certain rules apply to specific types of property if they are included in particular contracts related to probate. These rules are linked to another part of the law that begins at Section 10000 of the Probate Code, and they have particular limitations and requirements.

Subject to the limitations, conditions, and requirements of Chapter 18 (commencing with Section 10000) of Part 5 of Division 7 of the Probate Code, this article applies to property defined in Section 1086 that is covered by a contract described in Section 10150 of the Probate Code.

property contracts probate property Chapter 18 limitations contract described Section 10000 Division 7 probate rules contract requirements property definition Section 1086 Section 10150 limitations and conditions Probate Code relationship specific property covered by contract

(Added by Stats. 1988, Ch. 113, Sec. 4. Effective May 25, 1988. Operative July 1, 1988, by Sec. 23 of Ch. 113.)