In this first of a live, or webinar, 3-part series on Subdivision bonds you will learn a bit about the history of land ownership in California, from the days when it was owned by Spain, then Mexico, to the present day Subdivision Map Act, and what that all means for land ownership. A discussion on the law changes in California and why California has adopted such a rigorous land use regulation, which is codified in the CA Subdivision Map Act (the SMA). From its inception in 1893 to today, the SMA has had many changes but the process required under the SMA has culminated in significant clarity to land ownership as well as providing protection to the many participants in the process.
The process of taking a "parcel of land owned by one" and subdividing it into several lots "owned by many" is one that places upon most developers the responsibility of securing an Improvement Bond to provide some of that protection to the many participants. At the conclusion of this course you will have a strong background in understanding the risks associated with not only the Improvement Bond, but a better understanding of the overall risks your developer clients face when tackling a new project.
While each of the 3 parts will stand alone and it is not required to take all 3 parts to this Improvement and Subdivision Bond series, it is highly recommended. After taking this course, it is likely you will want to delve a bit deeper into this subset of the surety industry and finish Part 2 and Part 3 to capture a new client base of opportunities!
| DOI #: | 387266 |
|---|---|
| Hours: | 2 |
| Credits: | 2 |