In a transaction for the purchase of a dwelling for not more than four families in which there is an arranger of credit, which purchase includes an extension of credit by the vendor, a written disclosure with respect to that credit transaction shall be made, as required by this article:
(a) To the purchaser, by the arranger of credit and the vendor (with respect to information within the knowledge of the vendor).
(b) To the vendor, by the arranger of credit and the purchaser (with respect to information within the knowledge of the purchaser).
If there is more than one arranger of credit and one of those arrangers has obtained the offer by the purchaser to purchase the property, that arranger shall make the disclosure, unless the parties designate another person in writing.
(Added by Stats. 1982, Ch. 968, Sec. 1. Operative July 1, 1983, by Sec. 2 of Ch. 968.)
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