Page 10 - CTT Subdivision_Manual_CA

aTTorney’s responsibiliTies
A knowledgeable real estate attorney is an essential team member for any subdivision. Upon request, your Chicago Title Sales Representative will provide you with a list of qualified attorneys who specialize in real estate transactions and the requirements of the Department of Real Estate (DRE).
The following is a list of the responsibilities which you should expect your attorney to assume in connection with your project:
• Preparation of the homeowner’s association management documents which include: a. Declaration of Covenants, Conditions and Restrictions (CC&Rs)
b.Articles of Incorporation, if applicable
c. Association By-Laws
d.SB 800 Notice, if applicable
The above documents are part of the Purchaser Documents to be given to each buyer during escrow and are required for any Condominium or Planned Development project regardless of whether a Public Report is required by the DRE.
• Preparation of a sample purchaser Grant Deed (Chicago Title will consult with the attorney and ultimately approve the legal description)
• Preparation of any association property deed or easement deed and it’s accompanying irrevocable escrow instructions, if applicable
• Review of any condominium plans or planned development maps and their conditions of approval to assure consistency with the CC&Rs. The attorney may prepare the Notes and Definitions for the condominium plan and provide them to the engineer.
• Discuss Senate Bill 800, The Homebuilder “Fix-It” Construction Dispute Resolution Law and their recommended method of compliance
• Preparation of the purchase agreement and escrow instructions, if requested
• Preparation of a Subordination to the CC&Rs to be signed by the lender(s) of record at the time of the CC&R recording. Many attorneys handle the submission and discussion of this required form with your lender to assure a smooth approval and signing.
• Preparation of form RE 616 which indicates the attorney’s Master Management Document Number (MMD#). This MMD# means the attorney’s documents have been pre-approved by the DRE and will require less time to be approved for your project.
• File the Articles of Incorporation for the homeowners association with the Secretary of State. Many attorneys also handle the filing with the Franchise Tax Board for the association’s non-profit status.
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