Current through Register 2024 Notice Reg. No. 38, September 20, 2024
An application for a final subdivision public report is
"substantially complete" within the meaning of Section 11010.2 of the Code if it
contains the documents and information enumerated below:
(a) For a condominium project, community apartment
project or planned development:
(1) All of the
applicable documents and information listed under subdivision (a) of Section
2792.
(2) Proposed or existing governing instruments for
the owners' association.
(3) Condominium
plan if the subdivision is a condominium.
(4) Plot plan delineating all improvements
including recreational amenities if the subdivision is not a condominium.
(5) Overall subdivision plan if the subdivision is
part of a phased development.
(6)
Evidence of financial arrangements for completion of the common areas and facilities
in the offering.
(7) Copies of all
contracts or proposed contracts obligating the owners' association.
(8) Agreement of subdivider to subsidize common
area maintenance and owners' association operation where applicable.
(9) Financial arrangements to assure performance
of the subdivision agreement where applicable.
(10) Detailed pro forma budget reflecting
estimated costs of ownership, operation and maintenance expenses and reserves for
the subdivision.
(11) Most recent
balance sheet and annual operating statement for the owners' association if
applicable.
(12) Duplicate budget
package for the Bureau's analysis of proposed budget for common area maintenance and
owners' association operations.
(13)
Subdivision trust agreement if applicable.
(14) Exemplar of deed for conveyance of common
area to owners' association.
(15)
Exemplar of escrow instructions including at least the following:
(A) A description of the nature of the
transaction.
(B) Provision for the
return to Buyers of funds deposited toward the purchase of subdivision interests if
escrows are not closed on or before a date prescribed in the instructions.
(C) Name and address of the escrow depository to
be used.
(D) Provision to assure
compliance with subdivision (c) of Section 11018.5 of the Code if
applicable.
(E) Provision for conveyance
of common area to owners' association if applicable.
(16) A completed supplemental questionnaire if the
project is a conversion of an existing structure to a condominium or community
apartment project.
(17) A permit issued
by the Department of Business Oversight if applicable to the
offering.
(b) For an undivided
interest subdivision:
(1) All of the applicable
documents and information listed in subdivision (a) above.
(2) A proposed schedule of undivided interests in
the subdivision sufficient to identify the undivided interest acquired by each
purchaser.
(3) Statement from the
appropriate authority of the county in which the real property is located setting
forth the proposed method to be used in assessing and collecting real property taxes
for the subdivision.
1. New section
filed 12-3-80; effective thirtieth day thereafter (Register 80, No. 49). For history
of former section, see Registers 71, No. 50; 65, No. 17; and 63, No.
14.
2. Amendment of subsection (a), repealer of former subsections
(b)-(b)(6) and (c)(2), subsection relettering and renumbering, and amendment of NOTE
filed 12-30-97; operative 1-29-98 (Register 98, No. 1).
3. Change without
regulatory effect amending subsections (a)(12) and (a)(17) filed 6-30-2014 pursuant
to section 100, title 1, California Code of
Regulations (Register 2014, No. 27).
Note: Authority cited: Sections
11001
and
11010.2,
Business and Professions Code. Reference: Section
11010.2,
Business and Professions Code.
