Legal Question in Real Estate Law in California
Does California law provide for the seller of a condo to be responsible for condo assessments after the close of escrow? I heard the seller could be responsible (in some cases) for up to one year after the close of escrow. Is this correct? If so, where can I access the actual law on line?
2 Answers from Attorneys
I am not aware of any such provision, although that does not mean there could not be one. However, any law such as that would violate fundamental contact law so is not likely in existence. Whenever anyone tells you that something legally exists, ask they for the details as to how they know. Once escrow closes, the former owner no longer has any legal interest in the property, so how could they be responsible for the payment of future dues on property owned by someone else?
There is no statewide law that provides for such a thing. The only way that you could be on the hook is if you agreed to pay them for that period in the contract of sale. Then it would be a contractual agreement.