California Civil Code. California

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СКАЧАТЬ of any act, condition, or instruction set forth in an escrow, to be drawn or paid, either in whole or in part, or in kind or its equivalent, prior to the actual closing and completion of the escrow.

      The provisions of this section shall not be deemed to supersede, negate, or modify any of the provisions of Section 12404 of the Insurance Code.

      (Added by Stats. 1967, Ch. 678.)

      1057.6. In an escrow transaction for the purchase or simultaneous exchange of real property, where a policy of title insurance will not be issued to the buyer or to the parties to the exchange, the following notice shall be provided in a separate document to the buyer or parties exchanging real property, which shall be signed and acknowledged by them:

      “IMPORTANT: IN A PURCHASE OR EXCHANGE OF REAL PROPERTY, IT MAY BE ADVISABLE TO OBTAIN TITLE INSURANCE IN CONNECTION WITH THE CLOSE OF ESCROW SINCE THERE MAY BE PRIOR RECORDED LIENS AND ENCUMBRANCES WHICH AFFECT YOUR INTEREST IN THE PROPERTY BEING ACQUIRED. A NEW POLICY OF TITLE INSURANCE SHOULD BE OBTAINED IN ORDER TO ENSURE YOUR INTEREST IN THE PROPERTY THAT YOU ARE ACQUIRING.”

      (Added by Stats. 1992, Ch. 194, Sec. 1. Effective January 1, 1993.)

      1057.7. All written escrow instructions executed by a buyer or seller, whether prepared by a person subject to Division 6 (commencing with Section 17000) of the Financial Code, or by a person exempt from that division under Section 17006 of the Financial Code, shall contain a statement in not less than 10-point type which shall include the license name and the name of the department issuing the license or authority under which the person is operating. This section shall not apply to supplemental escrow instructions or modifications to escrow instructions.

      This section shall become operative on July 1, 1993.

      (Added by Stats. 1992, Ch. 861, Sec. 2. Effective January 1, 1993. Section operative July 1, 1993, by its own provisions.)

      1058. Redelivering a grant of real property to the grantor, or canceling it, does not operate to retransfer the title.

      (Enacted 1872.)

      1058.5. (a) A notice of nonacceptance of a recorded deed executed by a holder of a security interest, which notice identifies the security interest, contains a legal description of the property, properly identifies the parties to the deed, the date of recordation of the deed, the county in which the project is located, and the county assessor’s parcel number of the real property referenced in the deed, may be recorded in the office of the county recorder where the real property is located.

      (b) Where a trustee’s deed is invalidated by a pending bankruptcy or otherwise, recordation of a notice of rescission of the trustee’s deed, which notice properly identifies the deed of trust, the identification numbers used by the recorder or the books and pages at which the trustee’s deed and deed of trust are recorded, the names of all trustors and beneficiaries, the location of the property subject to the deed of trust, and the reason for rescission, shall restore the condition of record title to the real property described in the trustee’s deed and the existence and priority of all lienholders to the status quo prior to the recordation of the trustee’s deed upon sale. Only the trustee or beneficiary who caused the trustee’s deed to be recorded, or his or her successor in interest, may record a notice of rescission.

      (Amended by Stats. 1997, Ch. 74, Sec. 1. Effective January 1, 1998.)

      1059. Though a grant be not actually delivered into the possession of the grantee, it is yet to be deemed constructively delivered in the following cases:

      1. Where the instrument is, by the agreement of the parties at the time of execution, understood to be delivered, and under such circumstances that the grantee is entitled to immediate delivery; or,

      2. Where it is delivered to a stranger for the benefit of the grantee, and his assent is shown, or may be presumed.

      (Enacted 1872.)

      ARTICLE 4. Interpretation of Grants [1066 — 1072]

      (Article 4 enacted 1872.)

      1066. Grants are to be interpreted in like manner with contracts in general, except so far as is otherwise provided in this Article.

      (Enacted 1872.)

      1067. A clear and distinct limitation in a grant is not controlled by other words less clear and distinct.

      (Enacted 1872.)

      1068. If the operative words of a grant are doubtful, recourse may be had to its recitals to assist the construction.

      (Enacted 1872.)

      1069. A grant is to be interpreted in favor of the grantee, except that a reservation in any grant, and every grant by a public officer or body, as such, to a private party, is to be interpreted in favor of the grantor.

      (Enacted 1872.)

      1070. If several parts of a grant are absolutely irreconcilable, the former part prevails.

      (Enacted 1872.)

      1072. Words of inheritance or succession are not requisite to transfer a fee in real property.

      (Enacted 1872.)

      ARTICLE 5. Effect of Transfer [1084 — 1085]

      (Article 5 enacted 1872.)

      1084. The transfer of a thing transfers also all its incidents, unless expressly excepted; but the transfer of an incident to a thing does not transfer the thing itself.

      (Enacted 1872.)

      1085. A present interest, and the benefit of a condition or covenant respecting property, may be taken by any natural person under a grant, although not named a party thereto.

      (Enacted 1872.)

      ARTICLE 6. Agency Listings for the Transfer of Certain Property [1086 — 1090]

      (Article 6 added by Stats. 1982, Ch. 547, Sec. 1.)

      1086. As used in this article, the following terms have the meanings stated in this section:

      (a) “Property” means real property or a mobilehome, as defined in Section 18008 of the Health and Safety Code.

      (b) “Sell” and “sale” include lease and exchange.

      (c) “Buyer” includes a lessee in case of a lease and the party with whom property is exchanged in case of an exchange.

      (d) 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.

      (e) An “appraiser” is one licensed or certified under Part 3 (commencing with Section 11300) of Division 4 of the Business and Professions Code.

      (f) A “listing” is a written contract between an owner of property and an agent by which the agent has been authorized СКАЧАТЬ