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0 Fidelity National Title Company <br />39650 Liberty Street, #120 • Fremont, CA 94538 <br />(510) 651-8900 0 FAX (510) 651-1531 <br />NOTICE TO BUYER ON DISPOSITION <br />OF CALIFORNIA REAL PROPERTY <br />Date: December 19, 2001 <br />Escrow No: 427175-M"O <br />In accordance with Sections 18662 and 18668 of the Revenue and Taxation Code, a buyer may be <br />required to withhold an amount equal to 3 1/3 percent of the sales price in the case of a disposition of <br />California real property interest by either: <br />1. A seller who is an individual with a last known address outside of California or when the <br />disbursement instructions authorize the proceeds be sent to a financial intermediary of the seller, OR <br />2. A corporate seller which has no permanent place of business in California. <br />The buyer may become subject to penalty for failure to withhold an amount equal to the greater of ten <br />percent (10%) of the amount required to be withheld or five hundred dollars ($500). <br />However, notwithstanding any other provision included in the California statutes referenced above, no <br />buyer will be required to withhold any amount or be subject to penalty for failure to withhold if: <br />1 . The sales price of the California real property conveyed does not exceed one hundred thousand <br />dollars ($100,000); OR <br />2. The seller executes a written certificate under the penalty of perjury, certifying that the seller is a <br />resident of California, or if a corporation, has a permanent place of business in California; OR <br />3. The seller, who is an individual, executes a written certificate, under the penalty of perjury, that <br />the California real property being conveyed is the seller's principal residence (as defined in Section 1034 <br />of the Internal Revenue code). <br />The seller is subject to penalty for knowingly filing a fraudulent certificate for the purpose of avoiding <br />the withholding requirement. <br />The California statutes referenced above include provisions which authorize the Franchise Tax Board <br />to grant reduced withholding and waivers from withholding on a case -by -case basis. <br />CE-53 (Rev. 4/95) <br />