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CA SB1148
Bill
AI Summary
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Eliminates requirement that notice of foreclosure sale be initially published in a newspaper of general circulation in the city where property is located; instead requires publication in a newspaper of general circulation in the public notice district where property is situated, with fallback options to county or contiguous county publications.
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Prohibits charging any fee for filing a declaration of nonmonetary status by a trustee named in a foreclosure action, when the trustee believes it was named solely in its capacity as trustee without wrongful acts or omissions.
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For single-family residential properties (one to four units), requires notice of sale to include a "Notice to Tenant" informing eligible tenant buyers and eligible bidders of their right to purchase the property after the trustee auction by matching or exceeding the highest bid within specified timeframes.
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Requires trustees to maintain an internet website and telephone number accessible 24/7 to provide information on trustee sales, including sale date, amount of highest bid, and trustee address, accessible by case file number at no cost.
Legislative Description
Mortgages and deeds of trust: foreclosure.
Last Action
Chaptered by Secretary of State. Chapter 203, Statutes of 2020.
9/28/2020