September 15, 2009
The Buyer's Choice Act (AB 957 - Galgiani) has passed off the Senate floor and will soon make its way to the Governor’s desk. The bill, which was amended to include an urgency clause, would take effect immediately were it to become signed into law.
If enacted, AB 957 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.