Welcome to the Legal Section of C.A.R. Online, where REALTORS® legal needs are met with the latest information and legal updates. Look below for the latest legal news during the last two months. You'll see Regulatory News, new Realegals®, and What's Hot announcements.
Apr. 14, 2016 (revised) Legal Article: The California Association of REALTORS®' (C.A.R.) standard form California Residential Purchase Agreement and Joint Escrow Instructions (RPA-CA) is designed to act as an agreement between buyers and sellers; contractual issues affecting other persons, such as broker-to-broker agreements or broker-to-principal agreements, must be addressed separately. This legal article is intended to give brokers, escrow holders and others involved in real estate transactions direction on how to approach and address compensation issues when using the RPA-CA.
Apr. 7, 2016 (revised) Legal Article: This legal memorandum addresses liquidated damages clauses which award damages only to a seller in the event of a buyer’s breach of a real property purchase contract. This is the type used in the C.A.R. purchase agreements and is the most common type of liquidated damages clause used in the real estate industry.