Form RE643 Assessment Security Agreement and Instructions to Escrow Depository - California

What Is Form RE643?

This is a legal form that was released by the California Department of Real Estate - a government authority operating within California. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is the Form RE643 Assessment Security Agreement?
A: The Form RE643 Assessment Security Agreement is a legal document used in California to establish an agreement between a property owner and an escrow depository for the security deposit required for a public improvement assessment.

Q: What is the purpose of the Form RE643 Assessment Security Agreement?
A: The purpose of the Form RE643 Assessment Security Agreement is to provide a written agreement between a property owner and an escrow depository regarding the security deposit for a public improvement assessment.

Q: Who uses the Form RE643 Assessment Security Agreement?
A: The Form RE643 Assessment Security Agreement is used by property owners in California who are required to provide a security deposit for a public improvement assessment.

Q: What is an escrow depository?
A: An escrow depository is a financial institution or other entity that holds and manages funds on behalf of parties involved in a transaction.

Q: What is a public improvement assessment?
A: A public improvement assessment is a fee or charge imposed by a government agency on property owners to fund the cost of a public improvement project, such as road construction or utility installation.

Q: Do I need to use the Form RE643 Assessment Security Agreement in California?
A: If you are required to provide a security deposit for a public improvement assessment in California, it is recommended to use the Form RE643 Assessment Security Agreement to establish the agreement with the escrow depository.

Q: Are there any specific instructions for filling out the Form RE643 Assessment Security Agreement?
A: Yes, specific instructions for filling out the Form RE643 Assessment Security Agreement are provided with the form itself. It is recommended to carefully read and follow these instructions.

Q: Can I use the Form RE643 Assessment Security Agreement for properties located outside of California?
A: No, the Form RE643 Assessment Security Agreement is specific to California and should only be used for properties located within the state.

Q: What happens to the security deposit once it is submitted to the escrow depository?
A: Once the security deposit is submitted to the escrow depository, it will be held by the depository until it is released or applied towards the public improvement assessment as specified in the agreement.