You are here: California / Business and Professions Code - BPC / ARTICLE 6. Real Property Securities Dealers [10237. - 10238.8.] / Section 10237.2.

Section 10237.2. (Amended by Stats. 1991, Ch. 207, Sec. 1.)
Cite as: Cal. Bus. & Prof. Code §10237.2.

As used in this article “sale” or “sell” includes every issuance, creation for resale, disposition or attempt to dispose of any interest in a real property security for value and includes all of the following, whether done directly or by circular letter, advertisement, radio or television broadcast or otherwise: an offer to sell, an attempt to sell, a solicitation of a sale, a contract of sale or an exchange. A sale shall be complete upon delivery of the promissory note evidencing a transaction arranged pursuant to a permit issued under this article to the purchaser or an agent designated by the purchaser.

In connection with a completed sale made pursuant to this article the purchaser shall be the owner of the note, irrespective of other potential characterizations of the purchaser’s interest in the transaction.

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