CA AB1158

Narrows the definition of "eligible bidder" for trustee's sales by removing prospective owner-occupants and eligible nonprofit corporations, limiting eligible bidders to tenant buyers, certain nonprofit entities, community land trusts, limited-equity housing cooperatives, and government entities

Restricts special bidding rights to "eligible property" meeting specific criteria: residential property with 4 or fewer units, valid certificate of occupancy, first lien deed of trust, and fair market value at or below FHA loan limits for the area

Requires eligible bidders submitting bids after a trustee's sale to include an additional 1.2% of the last and highest bid amount with their submission

Allows the last and highest bidder at a trustee's sale to bring legal action against an eligible bidder to invalidate a bid that doesn't meet requirements, with potential remedies including quiet title, injunctive relief, monetary damages, and attorney's fees

Makes conforming changes to Health and Safety Code definitions for mission-driven nonprofit entities and the Foreclosure Intervention Housing Preservation Program; provisions expire January 1, 2031