Cal. Code Regs. Tit. 25, § 5540 - Recording a Registered Owner, Legal Owner or Junior Lienholder Interest in a Unit

(a) The registered owner, legal owner or junior lienholder interest in a unit shall be recorded in one of the following manners:

(1) individual,

(2) trustee,

(3) company,

(4) estate,

(5) conservator,

(6) guardian,

(7) emancipated minor,

(8) lessor/lessee, or

(9) a co-ownership consisting of any of the above, except to the extent an individual has named a TOD beneficiary.

(b) The registered ownership interest in a unit recorded in a single individual may also reflect a "transfer on death beneficiary" or "TOD" beneficiary". In order to name a TOD beneficiary, the application must contain, in addition to the information required for registration in the name of an individual registered owner, as set forth in subsection 5540(c)(1), a statement requesting the inclusion of a TOD beneficiary, signed under penalty of perjury by the applicant, that includes the unit identifying information and the name of the party to be added to the record as TOD beneficiary.

(c) The applicant shall comply with the following requirements, for the form of registered owner, legal owner, or junior lienholder registration requested.

(1) "Individual." The application shall contain the applicant's true name. The true name shall not include the use of any title, unless the applicant certifies that the title is part of his or her true name, and provides a statement signed under penalty of perjury which includes,

(A) the unit identifying information, and

(B) a statement certifying that any title shown as part of the true name is commonly used as part of the individual's name, or

(C) a statement certifying that the use of individual name with the abbreviation "AKA" (meaning "also known as") followed by the other known name, is commonly used as part of the individuals name.

(2) "Trustee." The application shall contain a statement, signed under penalty of perjury, by each trustee, providing the following:

(A) the unit identifying information;

(B) the name and date of the trust agreement;

(C) the name of the trustor(s);

(D) the name of the trustee(s);

(E) acknowledgment that the trustee(s) will notify the department immediately upon any change to the trust agreement identified by submitting a statement that contains the items as specified in subsections (2)(A)-(E).

(3) "Company." The application shall contain the signature of an officer or authorized agent of the company and the company name, which may include the designation "doing business as" (DBA), "limited liability company" (LLC), "limited liability partnership" (LLP), or "limited partnership."

(4) "Estate." The application shall contain a copy of the Letters Testamentary or Letters of Administration issued by a Superior Court, which contains an endorsement or stamp by the clerk of the court indicating the date the document was filed by the court.

(5) "Conservator." The application shall contain a copy of the Letters of Conservatorship issued by a Superior Court, which contains an endorsement or stamp by the clerk of the court indicating the date the document was filed by the court.

(6) "Guardian." The application shall contain either:

(A) a copy of the Letters of Guardianship issued by a Superior Court, which contains an endorsement or stamp by the clerk of the court indicating the date the document was filed by the court, or

(B) a statement, signed under penalty of perjury by a parent claiming sole guardianship of a minor, which shall include, at least unit identifying information; and a statement certifying that the parent is the sole guardian of the minor.

(7) "Emancipated Minor." The application shall contain:

(A) the emancipated minor's true name;

(B) a statement signed under penalty of perjury which shall include at least the following information:

1. the unit identifying information;

2. a statement certifying that the applicant is an emancipated minor, specifying the basis of his or her emancipation; and

3. if applicable, certifying that any title shown as part of the true name is commonly used as part of the individual's name or

4. if applicable, certifying the use of individual name with the abbreviation "AKA" (meaning "also known as") followed by the other known name, is commonly used as part of the individuals name, and

(C) evidence to support the basis of the applicant's emancipated status (e.g., a copy of his or her declaration of emancipation issued by a Superior Court which contains an endorsement or stamp by the clerk of the court indicating the date the document was filed by the court, evidence of his or her enlisted in the armed forces of the United States, etc.).

(8) "Lessor/Lessee." The application shall contain the applicable requirements specified in 5540(c) depending on whether the lessor or lessee is an individual, a company, an estate, etc.

Notes

Cal. Code Regs. Tit. 25, § 5540

1. New article 4 (sections 5540-5549.4) and section filed 12-31-97; operative 1-1-98 pursuant to Government Code section 11343.4(d) (Register 98, No. 1).

Note: Authority cited: Sections 18015 and 18075, Health and Safety Code. Reference: Sections 18080.1, 18080.2 and 18085, Health and Safety Code.

1. New article 4 (sections 5540-5549.4) and section filed 12-31-97; operative 1-1-98 pursuant to Government Code section 11343.4(d) (Register 98, No. 1).