A.   For purposes of this section, the following terms shall have the meanings set forth below:
    BUYER: A transferee in a real property transaction, including a person who executes an offer to purchase real property from a seller through an agent, or who seeks the services of an agent with the object of entering into a real property transaction. "Buyer" includes vendee or lessee.
   LISTING AGENT: An agent who has obtained a listing of real property of the kind for which he or she is authorized by law to act as an agent for compensation.
   OFFER TO PURCHASE: A written contract executed by a buyer acting through a selling agent which becomes the contract for the sale of the real property upon acceptance by the seller.
   OWNER: Any person, copartnership, association, corporation, or fiduciary having legal or equitable title, or any other interest, in real property.
   REAL PROPERTY TRANSACTION: A transaction for the sale of real property in which an agent is employed by one or more of the principals to act in that transaction; includes a listing or an offer to purchase.
   SALE: A transaction for the transfer of real property from the seller to the buyer, and includes exchanges of real property between the seller and buyer, transactions for the creation of a real property sales contract within the meaning of California Civil Code section 2985, and transactions for the creation of a leasehold exceeding one year's duration.
   SELLING AGENT: A listing agent who acts alone, or an agent who acts in cooperation with a listing agent, and who sells or obtains a buyer for the real property, or an agent who locates property for a buyer or who finds a buyer for a property for which no listing exists and presents an offer to purchase to the seller.
   B.   If a property has been designated by the city of Beverly Hills as a landmark, is a property within a designated historic district, is listed on the local inventory, or was designed by a person identified on the list of master architects, the owner or the selling agent of the property shall, in any real property transaction, provide the buyer of the property with notice informing the buyer of the property's historic or potentially historic status. If a preliminary title report indicates that the property was once owned and occupied by a person of great importance or a person of great local prominence, the owner or selling agent shall provide the buyer with notice informing the buyer of that fact as well. The owner or the selling agent shall provide the notice(s) to the buyer before expiration of any inspection contingency period, or in the absence of such contingency, at least ten (10) calendar days before the first scheduled date for the transfer of title to occur. The director shall prepare a written form for owners and selling agents to use as a means of facilitating the disclosures required pursuant to this section.
   C.   Any person who violates the provisions of this section shall be subject to the penalties and remedies specified in title 1, chapter 3 of this code. In addition, a buyer who does not receive the notice required by subsection B of this section may bring a civil action for damages and any other remedies available at law or in equity.
   D.   The disclosure requirements of this section shall not apply to real estate transactions subject to Civil Code section 1102.2 or any successor or amended section.
   E.   The disclosure requirements of this section are in addition to any disclosure obligations a property owner or agent may have under California law. (Ord. 15-O-2682, eff. 11-19-2015)