California Government Code

§ 54236

GOV § 54236 Effective Jan 1, 2014Div. 2 · Title 5 · Part 1 · Ch. 5 · Art. 8.5

Statute text

(a)As used in this article, the term “offer” means to solicit proposals prior to sale in a manner calculated to achieve a sale under the conditions specified, and to hold the offer open for a reasonable period of time, which shall be no more than one year, unless the time is extended by the selling agency at its discretion, for a period to be specified by the selling agency.

(b)As used in this article, the term “affordable price” means, in the case of a purchaser, other than a lower income household, the price for residential property for which the purchaser’s monthly payments will not exceed that portion of the purchasing household’s adjusted income as determined in accordance with the regulations of the United States Department of Housing and Urban Development, issued pursuant to Section 235 of the National Housing Act; and, in the case of a purchaser that is a lower income household, the price for residential property for which the purchaser’s monthly payments will not exceed that portion of the purchasing household’s adjusted income as determined in accordance with the regulations of the United States Department of Housing and Urban Development issued pursuant to Section 8 of the United States Housing Act of 1937.

(c)As used in this article, the term “single-family residence” means a real property improvement used, or intended to be used, as a dwelling unit for one family.

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Legislative history

Amended by Stats. 2013, Ch. 468, Sec. 1. (SB 416) Effective January 1, 2014.