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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] §1695 exemptions. Posted by Ward-CA- on September 20, 2003 at 10:41 AM In Reply to: Re: No problems posted by Stuart on September 14, 2003 at 4:24 PM : Hi, : Thanks for your prompt reply. I still read the law only exempts me, if I am going to "use the property as a personal residence". I assume that I could live in it for a period of time, one day perhaps, since there doesn't appear to be any time limit on residency. : Do you know where I can obtain bonding? the DRE said that it was not available. : Stuart =?=?=?=?=?=?=?=?=?=?= Stuart, Well, if you want to believe that CC § 1695 only allows you to do a pre-sale deal if you buy the property to live in, I don't know what else to say on the issue. Buying a foreclosure to live in is an exemption to the application of the code. But that requires an ability to show a manifestation of the intent to occupy the property. Such as changing all your bank accounts, driver's license, identification, mail delivery, etc. to the new address. Also, it wouldn't hurt to have a good story explaining why you moved out as quickly as you moved in. The bonding required per §1695 has never been available and probably never will. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : Hi, : : Thanks for your prompt reply. I still read the law only exempts me, if I am going to "use the property as a personal residence". I assume that I could live in it for a period of time, one day perhaps, since there doesn't appear to be any time limit on residency. : : Do you know where I can obtain bonding? the DRE said that it was not available. : : Stuart : =?=?=?=?=?=?=?=?=?=?= : Stuart, : Well, if you want to believe that CC § 1695 only allows you to do a pre-sale deal if you buy the property to live in, I don't know what else to say on the issue. : Buying a foreclosure to live in is an exemption to the application of the code. But that requires an ability to show a manifestation of the intent to occupy the property. Such as changing all your bank accounts, driver's license, identification, mail delivery, etc. to the new address. : Also, it wouldn't hurt to have a good story explaining why you moved out as quickly as you moved in. : The bonding required per §1695 has never been available and probably never will. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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