California SB 978

[Account Closed]

Anybody familiar with this new CA law that starts Jan 1, 2013?

Sounds like when you sell a trust deed investment you have to make sure the buyer is “suitable”, if it is determined they are not you can be subject to some strict civil penalties. I’m thinking that if the TD investment doesn't work out as expected the investor will no doubt claim they were not suitable and try to recover losses from TD seller.

Any thoughts?