Real Estate by George Assali & Associates

01/18/2024

01/18/2024

Realestate Talk
Did you know?

SEPARATE SALE
OR CONVEYANCE
OF ADUS

What is Assembly Bill 1033
Accessory dwelling units, also referred to as ADUs and "granny flats," have been available in California only as rentals. But a new law, Assembly Bill 1033, is giving Californians the opportunity to buy and sell them as accessory dwelling units or as condominiums.
Under AB 1033, which was signed into law October 11th, 2023, by Governor Newsom, property owners in participating cities will be able to construct an ADU on their land and sell it separately.
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dwelling units may be permitted.
Important Details
* A property within an existing planned development that has an existing association shall not record a condominium plan to create a common interest development without the express written authorization by the existing association.
* Prior to recordation or modification of a subdivision map and condominium plan, any lienholder with a lien on title must provide a form of written consent with text that clearly states that the lender approves recordation of the subdivision map or condominium plan and that you have satisfied their terms and conditions, if any.
* Homeowners building ADUs must notify the local utilities, including water, sewer, gas and electric, of the creation and separate conveyance of the unit. The home and the ADU will have two separate property taxes.
For More Information Visit: https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=202320240AB1033
This Bill potentially creates issues related to Title Insurance and will be monitored closely for any adverse effects to clear title and the insurability of such transaction.

04/16/2022

07/02/2020

Over 20 years of Realestate experience I always said Hard work pays off....ALWAYS....and BAM...3 properties in escrow, 4 just sold, and 2 more coming soon! Stay tuned.
And when some say it cannot be done, we say, yes it can.
Nothing is impossible....for us!!

if you or anyone you know looking for a home, townhome or commercial property or have any questions regarding Realestate, please contact me at once 818-402-6966 or email me at [email protected].
Sea Cliff Realtors
DRE: 01310135

12/31/2017

Reflecting on 2017 - a year filled with changes, both good and bad and in-between, knowing what our Real Estate goals are for 2018 has us very eager for the endless possibilities of the new year. We look forward to the opportunity to serve our community with devoted professionalism. We’re wishing you a safe and happy new year with the ones you love. Happy 2018!
#2018

11/11/2017