California Codes, Civil Code - CIV, Division 3 — Obligations, Part 4 — Obligations Arising from Particular Transactions, Title 14 — Lien, Chapter 2c — Real Property Sales Contracts, Section 2985.5
Every real property sales contract entered into after January 1, 1966, shall contain a statement of:
(a) The number of years required to complete payment in accordance with the terms of the contract.
(b) The basis upon which the tax estimate is made.
Notes
Requires every real-property sales contract entered after January 1, 1966, to state the number of years required to complete payment under the contract and the basis used for the contract’s tax estimate. The provision imposes those two disclosure requirements on covered sales contracts without changing the payment period or tax-estimation method selected by the parties.
Use as reference
Lexinter.net | California Code, Civil Code - CIV § 2985.5 | https://laws.lexinter.net/codes/california/civil-code/division-3/part-4/title-14/chapter-2c/section-2985-5