California § 884.010. 884.010. (Repealed (in Sec. 2) and added by Stats. 2011, Ch. 46, Sec. 3.)

California Statutes

§ 884.010. — 884.010. (Repealed (in Sec. 2) and added by Stats. 2011, Ch. 46, Sec. 3.)

California·Code CIV Civil Code - CIV·Div. 2. DIVISION 2. PROPERTY·Title 5.·Part 2. TITLE 5. MARKETABLE RECORD TITLE·Ch. 4. CHAPTER 4. Unexercised Options

If a recorded instrument creates or gives constructive notice of an option to purchase real property, the option expires of record if no conveyance, contract, or other instrument that gives notice of exercise or extends the option is recorded within the following times:

(a)If the expiration date of the option is ascertainable from the recorded instrument, six months after that expiration date.

(b)If the expiration date of the option is not ascertainable from the recorded instrument or the recorded instrument indicates that the option provides no expiration date, six months after the date the instrument that creates or gives constructive notice of the option is recorded.

(c)This section shall become operative on January 1, 2013.

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If a recorded instrument creates or gives constructive notice of an option to purchase real property, the option expires of record if no conveyance, contract, or other instrument that gives notice of exercise or extends the option is recorded within the following times:
(a)
If the expiration date of the option is ascertainable from
the recorded instrument, six months after that expiration date.
(b)
If the expiration date of the option is not ascertainable from the recorded instrument or the recorded instrument indicates that the option provides no expiration date, six months after the date the instrument that creates or gives constructive notice of the option is recorded.
(c)
This section shall become operative on January 1, 2013.

California § 884.010. (884.010. (Repealed (in Sec. 2) and added by Stats. 2011, Ch. 46, Sec. 3.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Repealed (in Sec. 2) and added by Stats. 2011, Ch. 46, Sec. 3. (SB 284) Effective January 1, 2012. Section operative January 1, 2013, by its own provisions.