CircleAmerica Realty Corporation

Agency: California Bureau of Real Estate ~Description:

~ In December 2013 the California Bureau of Real Estate (“BRE”) filed a Complaint against CircleAmerica Realty Corporation (“CRC”) and Richard Crain (Crain) as designated officer for CRC.  According to the Complaint in March 2012 the California Secretary of State forfeited CRC’s powers rights and privileges. In August 2012 the California Franchise Tax Board forfeited CRC’s powers rights and privileges and alleged that Crain failed to notify the BRE of the forfeited status. Based on an investigation the BRE determined that CRC and Crain had engaged in acts or practices in violation of California Business and Professions codes. The violations include but not limited to; demonstrating negligence or incompetence in performing an act for which a license is required; engaging in the business of a real estate broker while not in good legal standing with the California Secretary of State and the California Tax Board; and failing to adequately supervise the activities of corporation to ensure full compliance with the Real Estate Law. In January 2013 CRC petitioned for voluntary surrender of their real estate corporation license which was accepted by the BRE and effective on March 3 2014.