Re: Possible cash for keys
Posted by Paul on September 26, 2008 at 09:13:24:
In Reply to: Re: Possible cash for keys posted by steele in minnesota on September 26, 2008 at 08:29:54:
It appears in CA it apply's only to the first year of ownership.
CIVIL CODE
SECTION 890-894
890. (a) (1) "Rent skimming" means using revenue received from the rental of a parcel of residential real property at any time during the first year period after acquiring that property without first
applying the revenue or an equivalent amount to the payments due on all mortgages and deeds of trust encumbering that property.
(2) For purposes of this section, "rent skimming" also means receiving revenue from the rental of a parcel of residential real property where the person receiving that revenue, without the consent
of the owner or owner's agent, asserted possession or ownership of the residential property, whether under a false claim of title, by trespass, or any other unauthorized means, rented the property to another, and collected rents from the other person for the rental of the property. This paragraph does not apply to any tenant, subtenant, lessee, sublessee, or assignee, nor to any other hirer having a lawful occupancy interest in the residential dwelling.
(b) "Multiple acts of rent skimming" means knowingly and willfully rent skimming with respect to each of five or more parcels of residential real property acquired within any two-year period.
(c) "Person" means any natural person, any form of business organization, its officers and directors, and any natural person who authorizes rent skimming or who, being in a position of control, fails to prevent another from rent skimming.
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