Sacramento Report
August 18, 2009
Buyer's Choice Act Moves Forward
The Buyer's Choice Act (AB 957 - Galgiani) would prohibit a seller who acquired title to residential real property at a foreclosure sale from requiring a buyer to purchase title insurance, or escrow services from a company chosen by the seller as a condition of receiving offers or selling the residential real property. A transaction subject to the act would not be invalidated solely because of the failure of any person to comply with any provision of the Act. If enacted, the measure would only be in effect until January 1, 2015. After passing the Assembly the bill was amended in the Senate where it is awaiting passage.
