Developers

Developers Home The purchase of real estate is the largest single investment most Californians make during their lifetimes. Subdivision laws enforced by the CalBRE help ensure that subdividers deliver to buyers what was agreed to at the time of sale. These laws cover most standard subdivisions and various types of common interest developments (of 5 or more lots or units), timeshares, certain undivided interest developments, and out-of-state timeshare subdivisions offered for sale in California. It is not unusual that a first-time buyer will purchase a home or unit that is situated in a homeowners association controlled project. The most common type of association of homeowners is the nonprofit mutual benefit corporation. This is a corporation in which the members of the corporation vote for a board of directors which runs the affairs of the corporations. Membership in the association(s) is automatic. When a person buys a lot, home, townhouse, or condominium in a common interest development, he/she automatically becomes a member of the association(s).

 

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