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Posted 10:50 PM 07/07/11
Department of Real Estate
Subdivision Laws
Actually, the largest single investment that a great number of Californians make throughout their lives is buying of real estate. So called subdivision laws executed by the Department assist guarantee that subdividers deliver to purchasers what was in agreement at the moment of sale.
Such kinds of laws include the majority of typical subdivisions and different kinds of ordinary interest developments, as well, time-shares and definite complete interest developments, and in addition, out-of-state time-share subdivisions accessible for sale in California, the USA.
Note that the subdivider must get a public report from the DRE previous to real estate that has been subdivided could be sold in California. Actually, the public report reveals to potential purchasers important information about a definite subdivision. By the way, a special application with some other documents with reverence to representations must be made by the subdivider before a public report issuance.
And as a matter of fact, the subdivider must as well offer evidence to the Department that sufficient financial agreements have been made for their conclusion if developments to the subdivision are not finished at the time of filing the request.
Housing