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ID H0427
Bill
Status
1/27/2012
Primary Sponsor
Susan Chew
Click for details
AI Summary
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Shortens the timeframe for seeking a money judgment after a deed of trust sale from 3 months to 30 days
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Requires plaintiffs to include in their complaint the total indebtedness, sale price, fair market value at time of sale, interest, costs, and attorney's fees
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Mandates courts determine fair market value of the property at the time of sale before rendering judgment
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Limits judgment amount to the lesser of either the difference between total indebtedness and fair market value (plus interest from sale date) or the difference between the sale price and total indebtedness secured by the deed of trust
Legislative Description
Amends existing law relating to deeds of trust and money judgments to revise provisions relating to the time in which a certain money judgment may be sought.
MONEY JUDGMENTS
Last Action
to Bus
1/30/2012