New Legal Articles

Published: October 31, 2007

<p class="MsoNormal"><font face="Arial" color="#000000" size="2"><span id="ms__id1757" style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial">Member Legal Services has changed the name of the legal article, <i><span id="ms__id2128" style="FONT-STYLE: italic">Home Equity Sales Contracts</span></i> (Sep 16, 2005) to <a title="http://www.car.org/index.php?id=MTUyMg==" href="http://www.car.org/index.php?id=MTUyMg==">Notice of Default and Investor-Buyer Transactions: Home Equity Sales Contracts</a>.  It is available on Legal's <a title="/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=Ng==<br />http://www.car.org/index.php?id=Ng==" href="http://blog.srcar.org/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=Ng==" target="_blank">What's New</a> and the <a title="/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=NTgz<br />
http://www.car.org/index.php?id=NTgz" href="http://blog.srcar.org/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=NTgz" target="_blank">Legal Articles</a> pages on<i><span id="ms__id2419" style="FONT-STYLE: italic"> C.A.R. Online</span></i>.  The date has remained the same since the text of the article has not changed.  There are no substantive changes to the law.  The name was changed to make it easier for members to recognize the applicability of this law.  Before the home equity sales contracts law comes into effect, all four of the following conditions must be satisfied:  (1) the property is residential with one-to-four units, (2) the owner must currently occupy one of those units, (3) the buyer must be an investor (will not live in the property) and (4) a notice of default has been recorded against the property.</span></font><font face="Arial" size="2"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"> </span></font></p><p class="MsoNormal"><font face="Arial" color="#000000" size="2"><span style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial">Member Legal Services has published a revised legal article, <a title="http://www.car.org/index.php?id=MTI5NQ==" href="http://www.car.org/index.php?id=MTI5NQ==">Buyer-Broker Agreements: Q&amp;A for Consumers</a> (October 30, 2007).  It is available on Legal's <a title="/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=Ng==<br />
http://www.car.org/index.php?id=Ng==" href="http://blog.srcar.org/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=Ng==" target="_blank">What's New</a> and the <a title="/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=NTgz<br />
http://www.car.org/index.php?id=NTgz" href="http://blog.srcar.org/exchweb/bin/redir.asp?URL=http://www.car.org/index.php?id=NTgz" target="_blank">Legal Articles</a> pages on<i><span style="FONT-STYLE: italic"> C.A.R. Online</span></i>. </span></font><font face="Arial" color="#000080" size="2"><span style="FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial"> </span></font><font face="Arial" color="#000000" size="2"><span style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial">This legal article has been updated to reflect the form name changes from BBE, BBNE, BBNN to BRE, BRNE, BRNN.  A few other non-substantive changes were also made.  In addition, the password protection has been removed so that this article, which is intended for consumers, can be easily accessed by our members’ clients.<p /></span></font></p>


Last modified: October 31, 2007 at 2:42 pm | Originally published: October 31, 2007 at 2:42 pm
Printed: September 26, 2020