CaliforniaAttached residential condominium sales: liquidated damages.
What it does
Existing law establishes that for the initial sale of a newly constructed condominium unit, as specified, the amount actually paid to the seller in the event of a buyer's default pursuant to a liquidated damages provision that exceeds 3% of the purchase price of the residential unit is subject to specified requirements, including an accounting of the seller's costs and revenues, as specified.
More detail
This bill would delete the above-specified percentage and, instead, increase that percentage to 6%.
Where do you stand?
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jun 29In committee: Set, first hearing. Hearing canceled at the request of author.Latest
- May 6Referred to Com. on JUD.Minor
- Jan 29In Senate. Read first time. To Com. on RLS. for assignment.Minor
- Vote recorded AB 1406 Ward Assembly Third Reading. Result: pass.Lower
- Jan 29Read third time. Passed. Ordered to the Senate. (Ayes 41. Noes 15. Page 3880.)Passed Assembly
- Jan 22Read third time and amended. Ordered to third reading. (Page 3816.)Major
- Jan 15Read second time. Ordered to third reading.Minor
- Jan 14Read second time and amended. Ordered returned to second reading.Major
- Jan 13From committee: Amend, and do pass as amended. (Ayes 7. Noes 3.) (January 13).Major
- Vote recorded Do pass as amended. Result: pass.Lower
- Jan 6Re-referred to Com. on JUD.Minor
- Jan 5From committee chair, with author's amendments: Amend, and re-refer to Com. on JUD. Read second time and amended.Major
- 2025
- Apr 21In committee: Set, second hearing. Hearing canceled at the request of author.
- Apr 2In committee: Set, first hearing. Hearing canceled at the request of author.
- Mar 25Re-referred to Com. on JUD.Minor
- Mar 24From committee chair, with author's amendments: Amend, and re-refer to Com. on JUD. Read second time and amended.Major
- Mar 24Referred to Coms. on JUD. and B. & P.Minor
- Feb 24Read first time.Minor
- Feb 22From printer. May be heard in committee March 24.
- Feb 21Introduced. To print.Introduced