Space Flight Liability And Immunity - Shared Appreciation Loans - CA Civil Law

Section § 1917.150

If you make significant improvements to your property, you can add their value to the overall property value for certain financial calculations, like future interest. To do this, you must notify your lender within 60 days after finishing upgrades that cost over $2,500. If the lender questions the new value, you both can agree on a value or get appraisals. You'll split the appraisal costs, and any increase over $2,500 can be credited. If you did at least half the work yourself, the cost doesn't have to be over $2,500 for this process.

The borrower may have the value of capital improvements added to the borrower’s cost of the property, for purposes of determining net appreciated value and the amount of contingent deferred interest, but only if the procedures set forth in this article are followed.

(a) Within 60 days following the completion of capital improvements during any 12-month period with a cost in excess of two thousand five hundred dollars ($2,500), the borrower shall send by first-class mail a notice of the completion of the improvements to the lender and shall submit proof of cost and an estimate of the increase in value of the property by reason of the improvements.

(b) If, within 30 days of receipt of the notice, the lender questions the claimed increase in value of the property by reason of the improvements, the lender and the borrower may, by mutual agreement, establish the value of the capital improvements or the lender may require appraisal of the property. An appraisal shall be made to determine the increase in value of the property, if any, by reason of the improvements, by two appraisers selected in the same manner specified in Section 1917.142. If appraisals are performed, the increase in value resulting from the improvements for the purposes of this section, shall be one-half of the sum of the two appraisals. The cost of the appraiser selected by the borrower shall be borne by the borrower, and the cost of the appraiser selected by the lender shall be borne by the lender.

(c) A credit for the value of capital improvements shall be provided if the increase in value of the property resulting therefrom is determined pursuant to subdivision (b) to exceed two thousand five hundred dollars ($2,500).

(d) If 50 percent or more of the value of the labor or other work on the improvements was performed by the borrower, then the actual cost of the improvements need not exceed two thousand five hundred dollars ($2,500) for purposes of making application under subdivision (a).

capital improvements net appreciated value contingent deferred interest property value increase appraisals borrower and lender agreement property improvement credit notice of completion cost of improvements borrower performed labor property appraisal process lender questioning value property upgrade cost proof labor value by borrower credit for property improvement

(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)

Section § 1917.151

This section allows a shared appreciation loan to offer borrowers a larger credit for home improvements than what's usually stated, as long as the required disclosures are updated to show these terms clearly.

Nothing in this article shall preclude a shared appreciation loan from providing the borrower with a greater credit for improvements than specified in this article, provided the relevant disclosures required by Article 7 (commencing with Section 1917.170) are appropriately modified to accurately disclose the terms of the credit.

shared appreciation loan borrower credit for improvements disclosures Article 7 Section 1917.170 loan terms home improvement credits greater credit modifying disclosures

(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)

Section § 2210

This section defines key terms related to space flight activities for legal purposes. A "participant" is someone involved in a space flight as defined by U.S. federal law. "Participant injury" covers bodily harm, including emotional or property damage, that could happen to a participant. "Space flight activities" refer to launching or reentering spacecraft. A "space flight entity" is any organization, public or private, that has FAA authorization to conduct these activities under specific U.S. regulations, including having any necessary permits or licenses.

For purposes of this article:

(a) “Participant” means a space flight participant as defined in Section 50902 of Title 51 of the United States Code.

(b) “Participant injury” means a bodily injury, including death, emotional injury, or property damage, sustained by the participant.

(c) “Space flight activities” means launch services or reentry services as defined in Section 50902 of Title 51 of the United States Code.

(d) “Space flight entity” means any public or private entity that holds, either directly or through a corporate subsidiary or parent, a license, permit, or other authorization issued by the United States Federal Aviation Administration pursuant to the federal Commercial Space Launch Amendments Act of 2004 (51 U.S.C. Sec. 50905 et seq.), including, but not limited to, a safety approval and a payload determination.

space flight participant bodily injury emotional injury property damage launch services reentry services space flight activities space flight entity FAA authorization Commercial Space Launch Amendments Act safety approval payload determination federal aviation regulations corporate subsidiary Title 51 U.S.C.

(Added by Stats. 2012, Ch. 416, Sec. 2. (AB 2243) Effective January 1, 2013.)

Section § 2211

This law requires any company offering space flights to have participants sign a warning statement acknowledging the risks involved. The statement must include specific language about limited liability for injuries or damages related to space flights. Participants must confirm their understanding and have the chance to consult a lawyer before signing. If the company doesn't follow these rules, they can't use certain legal protections. This law supports public policy without going against it.

(a) A space flight entity providing space flight activities to a participant shall have each participant sign a warning statement that shall contain, at a minimum, and in addition to any language required by federal law, the following notice:

“WARNING AND ACKNOWLEDGMENT: I understand and acknowledge that, under California law, there is limited civil liability for bodily injury, including death, emotional injury, or property damage, sustained by a participant as a result of the inherent risks associated with space flight activities provided by a space flight entity. I have given my informed consent to participate in space flight activities after receiving a description of the inherent risks associated with space flight activities, as required by federal law pursuant to Section 50905 of Title 51 of the United States Code and Section 460.45 of Title 14 of the Code of Federal Regulations. The consent that I have given acknowledges that the inherent risks associated with space flight activities include, but are not limited to, risk of bodily injury, including death, emotional injury, and property damage. I understand and acknowledge that I am participating in space flight activities at my own risk. I have been given the opportunity to consult with an attorney before signing this statement.”

(b) Failure to comply with the requirements provided in this section shall prevent a space flight entity from invoking the privileges of immunity provided by Section 2212.

space flight activities limited civil liability bodily injury risk informed consent warning statement requirement federal law compliance inherent risks participant acknowledgment legal immunity public policy alignment consultation with attorney California law requirements Section 50905 Title 51 Section 460.45

(Amended by Stats. 2014, Ch. 48, Sec. 1. (SB 415) Effective January 1, 2015.)

Section § 2212

This law says that space flight companies in California aren't responsible for injuries to participants if the participants knew the risks involved and agreed to them in writing. However, it doesn't protect companies if they're grossly negligent, deliberately cause harm, or if they knew about a dangerous condition that caused the injury. If a manufacturer's defective part causes an injury, they're not protected by this limitation either.

(a) Except as provided in subdivision (c), a space flight entity shall not be liable for participant injury arising out of space flight activities if both of the following apply:

(1) The participant has been informed of the risks associated with space flight activities as required by federal law and Section 2211.

(2) The participant has given his or her informed consent that he or she is voluntarily participating in space flight activities after having been informed of the risks associated with those activities, as required by federal law and Section 2211.

(b) If informed consent is given pursuant to subdivision (a), a participant, his or her representative, including the heirs, administrators, executors, assignees, next of kin, and estate of the participant, or any person who attempts to bring a claim on behalf of the participant for a participant injury, shall not be authorized to maintain an action against, or recover from, a space flight entity for a participant injury that resulted from the risks associated with space flight activities, except as provided in subdivision (c).

(c) Nothing in this section shall prevent or limit the liability of a space flight entity that does any of the following:

(1) Commits an act or omission that constitutes gross negligence or willful or wanton disregard for the safety of the participant, and that act or omission proximately causes a participant injury.

(2) Intentionally causes a participant injury.

(3) Has actual knowledge or reasonably should have known of a dangerous condition on the land or in the facilities or equipment used in space flight activities and the dangerous condition proximately causes injury, damage, or death to the participant.

(d) Any limitation on legal liability afforded by this section to a space flight entity is in addition to any other limitations of legal liability otherwise provided by law.

(e) Nothing in this section shall be construed to limit the liability of a manufacturer of a part or component used in space flight activities if a defective part or component proximately causes an injury to the participant.

space flight liability participant injury informed consent gross negligence willful disregard intentional harm dangerous condition manufacturer liability defective parts voluntary participation legal protection risk awareness space flight activities federal law requirements participant agreement

(Added by Stats. 2012, Ch. 416, Sec. 2. (AB 2243) Effective January 1, 2013.)