LOS ANGELES, CALIFORNIA: According to a recently launched website shared with Semafor, the act, informally being referred to as the "Katy Perry Act" is designed to "address the risks of elder financial abuse, especially in relation to property and real estate sales and transfers."
The Act reportedly establishes "a 72-hour cooling-off period during which either party involved in a contract for the transfer of a personal residence, where one party is over the age of 75, can cancel the agreement without facing any penalties."
Katy Perry's involvement in unusual legal battles
A series of unusual legal battles involving pop star Katy Perry and several California residents in recent years has inspired a nationwide legislative initiative by Perry's adversaries, aimed at slowing down home sales by elderly homeowners.
Currently, Perry is embroiled in a dispute with 84-year-old Carl Westcott, the founder of 1-800-Flowers.
Westcott is suing to prevent the sale of his Santa Barbara mansion with eight bedrooms and eleven bathrooms, which Perry and her partner Orlando Bloom bought for $15 million.
Westcott argues that he was not in a position to consent to the sale due to mental decline and prescription opiate use shortly after major surgery when he sold the property to Perry and her real estate agent.
Previous legal challenges faced by Katy Perry
This is not the first time Perry has faced legal challenges from elderly homeowners seeking to block her purchases.
The pop star previously prevailed in a lawsuit brought by a group of nuns who wanted to sell their Medieval-Spanish-Gothic-Tudor estate to a California restaurateur against the wishes of the Archdiocese.
Although Perry won the case, the incident is perhaps more memorable for the collapse and death of one of the nuns during the trial.
Now, Carl Westcott's son, Chart, and his family are leading the effort to introduce the Protecting Elder Realty for Retirement Years Act, known as the Katy PERRY Act.
The group supporting this effort claims to have garnered support from numerous state and local legislators across the political spectrum who will soon introduce their own versions of the bill.
