Buyer's Choice Act.

Existing law, the Buyer's Choice Act, prohibits a mortgagee or beneficiary under a deed of trust who acquired title to residential real property improved by 4 or fewer dwelling units at a foreclosure sale from requiring, directly or indirectly, as a condition of selling the property, that the buyer purchase title insurance or escrow services in connection with the sale from a particular title insurer or escrow agent. Under existing law, a seller who violates these provisions is liable to the buyer for an amount equal to 3 times all the charges made for the title insurance or escrow services. Existing law makes the act operative until January 1, 2015. This bill would delete the repeal of these provisions, thereby making them operate indefinitely.