Forgot Password? | Print Page | Sign In | Create User Profile
News & Press: Industry News

DRE Weighs in on California Consumer Privacy Act and Real Estate Law

Tuesday, February 18, 2020  
Share |

The California Department of Real Estate (DRE) recently issued its Winter Bulletin stating that it has received inquiries from its licensees, various industry groups, and members of the public about the relationship between CCPA and the Real Estate Law, specifically section 10148, which requires licensees to maintain real estate transaction records for three years.

In its bulletin, the DRE notes that the “CCPA provides greater protections to California consumers over their personal information. Among its provisions, the CCPA permits consumers the right to request that large for-profit businesses that retain a consumer’s personal information delete such information upon receipt of a verified request. The statute defines for-profit businesses as ‘[a] sole proprietorship, partnership, Limited Liability Company, corporation, association, or other legal entity that is organized or operated for the profit or financial benefit of its shareholders or other owners . . ..’ The CCPA’s scope is limited, however, to for-profit businesses that conduct business in California and have annual gross revenues exceeding $25 million; possess the personal information of 50,000 or more consumers, households, or devices; or earn more than half of its annual revenue from the sale of consumers’ personal information.”

The DRE has asserted that given this definition, the CCPA will reach very few DRE licensees, since most DRE licensees do not have annual gross revenues of $25 million or more, possess personal information of 50,000 or more consumers, or earn half of their revenue from the sale of personal information. For licensees that do fall within the scope of the CCPA, the DRE finds that “the requirements of that law do not conflict with the record keeping requirements set forth in section 10148. The CCPA excepts from the obligation to delete personal information imposed on for profit businesses those businesses that need to retain such information to comply with federal, state, or local laws. Since section 10148 requires licensees to retain real estate transaction records for three years, for-profit businesses that are DRE licensees are excepted from the requirement to delete personal information if they receive a verified request during that three-year period. For profit businesses that receive verified requests to delete personal information more than three years after a real estate transaction has closed are encouraged to consult legal counsel for further advice and/or direction.”

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851