California § 2995 - No real estate developer shall require as a condition precedent to the transfer o
Full text of California Public Contract Code - PCC § 2995 — No real estate developer shall require as a condition precedent to the transfer o, with citation guidance and answers to common questions.
§ 2995. No real estate developer shall require as a condition precedent to the transfer o
No real estate developer shall require as a condition precedent to the transfer of real property containing a single family residential dwelling that escrow services effectuating such transfer shall be provided by an escrow entity in which the real estate developer has a financial interest. A real estate developer who violates the provisions of this section shall be liable to the purchaser of the real property in the amount of three times the amount charged for the escrow services, but in no event less than two hundred fifty dollars ($250), plus reasonable attorneyâs fees and costs. For purposes of this section âfinancial interestâ means ownership or control of 5 percent or more of an escrow entity. For purposes of this section âreal estate developerâ means a person or entity having an ownership interest in real property which is improved by such person or entity with single family residential dwellings which are offered for sale to the public. For purposes of this section âescrow entityâ includes a person, firm or corporation. Any waiver of the prohibition contained in this section shall be against public policy and void.
Frequently Asked Questions About California § 2995
What does Public Contract Code - PCC § 2995 cover?
Section 2995 ("No real estate developer shall require as a condition precedent to the transfer o") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 2995?
A common citation format is "Public Contract Code - PCC § 2995" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 2995 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.