On Dec. 10, 2018, C.A.R. and zipForm® released 2 new forms and 32 revised forms.
The new forms:
• The Buyer Pre-Occupancy Storage Agreement (POSA)
• The Summary of Offer RIPA (SUM-RIPA)
The revised forms:
• 12 were revised to make them easier to understand and use.
• The remaining 20 revised forms include statutory changes set to take effect Jan. 1, 2019.
The new laws pertaining to the agency disclosure and confirmation of agency forms required revisions to 10 purchase agreements, 6 listing agreements, and 3 agency disclosure forms. Essentially all of these forms had the same statutory changes.
The final revised form, the Trust Advisory, had one word removed, reflecting a change in the law pertaining to the disclosure obligations of sellers who are co-trustees of revocable living trusts. Under the changed law these sellers would not be exempt from having to complete a TDS.
New and Revised forms (sign-in required)