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<br />INITIALS INITIALS
<br />©2019 AIR CRE.All Rights Reserved.Last Edited:3/8/2022 9:08 AM
<br />AD-3.01,Revised 10-22-2020 Page 3 of 4
<br />DISCLOSURE REGARDING REAL ESTATE AGENCY RELATIONSHIP
<br />CIVIL CODE SECTIONS 2079.13 THROUGH 2079.24 (2079.16 APPEARS ON THE FRONT)
<br />2079.13.As used in SecƟons 2079.7 and 2079.14 to 2079.24,inclusive,the following terms have the following meanings:
<br />(a)“Agent”means a person acƟng under provisions of Title 9 (commencing with SecƟon 2295)in a real property transacƟon,and includes a person who is licensed as
<br />a real estate broker under Chapter 3 (commencing with SecƟon 10130)of Part 1 of Division 4 of the Business and Professions Code,and under whose license a lisƟng
<br />is executed or an offer to purchase is obtained.The agent in the real property transacƟon bears responsibility for that agent’s salespersons or broker associates who
<br />perform as agents of the agent.When a salesperson or broker associate owes a duty to any principal,or to any buyer or seller who is not a principal,in a real property
<br />transacƟon,that duty is equivalent to the duty owed to that party by the broker for whom the salesperson or broker associate funcƟons.(b)“Buyer”means a
<br />transferee in a real property transacƟon,and includes a person who executes an offer to purchase real property from a seller through an agent,or who seeks the
<br />services of an agent in more than a casual,transitory,or preliminary manner,with the object of entering into a real property transacƟon.“Buyer”includes vendee or
<br />lessee of real property.(c)“Commercial real property”means all real property in the state,except (1)single-family residenƟal real property,(2)dwelling units made
<br />subject to Chapter 2 (commencing with SecƟon 1940)of Title 5,(3)a mobile home,as defined in SecƟon 798.3,(4)vacant land,or (5)a recreaƟonal vehicle,as
<br />defined in SecƟon 799.29.(d)“Dual agent”means an agent acƟng,either directly or through a salesperson or broker associate,as agent for both the seller and the
<br />buyer in a real property transacƟon.(e)“LisƟng agreement”means a wriƩen contract between a seller of real property and an agent,by which the agent has been
<br />authorized to sell the real property or to find or obtain a buyer,including rendering other services for which a real estate license is required to the seller pursuant to
<br />the terms of the agreement.(f)“Seller's agent”means a person who has obtained a lisƟng of real property to act as an agent for compensaƟon.(g)“LisƟng price”is
<br />the amount expressed in dollars specified in the lisƟng for which the seller is willing to sell the real property through the seller’s agent.(h)“Offering price”is the
<br />amount expressed in dollars specified in an offer to purchase for which the buyer is willing to buy the real property.(i)“Offer to purchase”means a wriƩen contract
<br />executed by a buyer acƟng through a buyer’s agent that becomes the contract for the sale of the real property upon acceptance by the seller.(j)“Real property”
<br />means any estate specified by subdivision (1)or (2)of SecƟon 761 in property,and includes (1)single-family residenƟal property,(2)mulƟ-unit residenƟal property
<br />with more than four dwelling units,(3)commercial real property,(4)vacant land,(5)a ground lease coupled with improvements,or (6)a manufactured home as
<br />defined in SecƟon 18007 of the Health and Safety Code,or a mobile home as defined in SecƟon 18008 of the Health and Safety Code,when offered for sale or sold
<br />through an agent pursuant to the authority contained in SecƟon 10131.6 of the Business and Professions Code.(k)“Real property transacƟon”means a transacƟon for
<br />the sale of real property in which an agent is retained by a buyer,seller,or both a buyer and seller to act in that transacƟon,and includes a lisƟng or an offer to
<br />purchase.(l)“Sell,”“sale,”or “sold”refers to a transacƟon for the transfer of real property from the seller to the buyer and includes exchanges of real property
<br />between the seller and buyer,transacƟons for the creaƟon of a real property sales contract within the meaning of SecƟon 2985,and transacƟons for the creaƟon of a
<br />leasehold exceeding one year’s duraƟon.(m)“Seller”means the transferor in a real property transacƟon and includes an owner who lists real property with an agent,
<br />whether or not a transfer results,or who receives an offer to purchase real property of which he or she is the owner from an agent on behalf of another.“Seller”
<br />includes both a vendor and a lessor of real property.(n)“Buyer's agent”means an agent who represents a buyer in a real property transacƟon.
<br />2079.14.A seller’s agent and buyer’s agent shall provide the seller and buyer in a real property transacƟon with a copy of the disclosure form specified in SecƟon
<br />2079.16,and shall obtain a signed acknowledgment of receipt from that seller and buyer,except as provided in SecƟon 2079.15,as follows:(a)The seller’s agent,if
<br />any,shall provide the disclosure form to the seller prior to entering into the lisƟng agreement.(b)The buyer’s agent shall provide the disclosure form to the buyer as
<br />soon as pracƟcable prior to execuƟon of the buyer’s offer to purchase.If the offer to purchase is not prepared by the buyer’s agent,the buyer’s agent shall present the
<br />disclosure form to the buyer not later than the next business day aŌer receiving the offer to purchase from the buyer.
<br />2079.15.In any circumstance in which the seller or buyer refuses to sign an acknowledgment of receipt pursuant to SecƟon 2079.14,the agent shall set forth,sign,
<br />and date a wriƩen declaraƟon of the facts of the refusal.
<br />2079.16 Reproduced on Page 1 of this AD form.
<br />2079.17(a)As soon as pracƟcable,the buyer’s agent shall disclose to the buyer and seller whether the agent is acƟng in the real property transacƟon as the buyer’s
<br />agent,or as a dual agent represenƟng both the buyer and the seller.This relaƟonship shall be confirmed in the contract to purchase and sell real property or in a
<br />separate wriƟng executed or acknowledged by the seller,the buyer,and the buyer’s agent prior to or coincident with execuƟon of that contract by the buyer and the
<br />seller,respecƟvely.(b)As soon as pracƟcable,the seller’s agent shall disclose to the seller whether the seller’s agent is acƟng in the real property transacƟon as the
<br />seller’s agent,or as a dual agent represenƟng both the buyer and seller.This relaƟonship shall be confirmed in the contract to purchase and sell real property or in a
<br />separate wriƟng executed or acknowledged by the seller and the seller’s agent prior to or coincident with the execuƟon of that contract by the seller.
<br />(C)CONFIRMATION:The following agency relaƟonships are confirmed for this transacƟon.
<br />Seller's Brokerage Firm DO NOT COMPLETE,SAMPLE ONLY License Number
<br />Is the broker of (check one):the seller;or both the buyer and seller.(dual agent)
<br />Seller's Agent DO NOT COMPLETE,SAMPLE ONLY License Number
<br />Is (check one):the Seller's Agent.(salesperson or broker associate);or both the Buyer's Agent and the Seller's Agent.(dual agent)
<br />Buyer's Brokerage Firm DO NOT COMPLETE,SAMPLE ONLY License Number
<br />Is the broker of (check one):the buyer;or both the buyer and seller.(dual agent)
<br />Buyer's Agent DO NOT COMPLETE,SAMPLE ONLY License Number
<br />Is (check one):the Buyer's Agent.(salesperson or broker associate);or both the Buyer's Agent and the Seller's Agent.(dual agent)
<br />(d)The disclosures and confirmaƟon required by this secƟon shall be in addiƟon to the disclosure required by SecƟon 2079.14.An agent’s duty to provide disclosure
<br />and confirmaƟon of representaƟon in this secƟon may be performed by a real estate salesperson or broker associate affiliated with that broker.
<br />2079.18 (Repealed pursuant to AB-1289,2017-18 California LegislaƟve session)
<br />2079.19 The payment of compensaƟon or the obligaƟon to pay compensaƟon to an agent by the seller or buyer is not necessarily determinaƟve of a parƟcular agency
<br />relaƟonship between an agent and the seller or buyer.A lisƟng agent and a selling agent may agree to share any compensaƟon or commission paid,or any right to any
<br />compensaƟon or commission for which an obligaƟon arises as the result of a real estate transacƟon,and the terms of any such agreement shall not necessarily be
<br />determinaƟve of a parƟcular relaƟonship.
<br />2079.20 Nothing in this arƟcle prevents an agent from selecƟng,as a condiƟon of the agent’s employment,a specific form of agency relaƟonship not specifically
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