Mike Feuer
- Democratic
Author
Existing law requires a lender to file a notice of default in the case of nonjudicial foreclosure prior to enforcing a power of sale as a result of a default on an obligation secured by real property, as specified. Existing law also requires that a notice of sale be given before the power of sale may be exercised. This bill would, until 2013, create an exception to the provision governing the exercise of the power of sale by providing that if a property contains 5 or more multifamily units and a public entity, as defined, is a party to a regulatory agreement or recorded deed restriction on the property, the public entity may, by written notice to the trustee, postpone the sale date by no more than 60 days, as specified. The bill would provide that, if multiple public entities are parties to a regulatory agreement or a recorded deed restriction on the property, only one entity may postpone the sale date. The bill would also provide that the power to postpone a sale date pursuant to these provisions may be exercised only once, and that the period of postponement expires after 180 days have elapsed since filing the notice of default.
Approved by the Governor.
Chaptered by Secretary of State - Chapter 597, Statutes of 2010.
Enrolled and to the Governor at 2:30 p.m.
Senate amendments concurred in. To enrollment. (Ayes 51. Noes 27. Page 6584.)
Assembly Rule 77 suspended. (Ayes 49. Noes 27. Page 6562.)
Read third time, passed, and to Assembly. (Ayes 22. Noes 14. Page 4796.)
In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 25 pursuant to Assembly Rule 77.
Read second time and amended. Ordered to third reading.
From committee: Amend, and do pass as amended. (Ayes 3. Noes 1.) (June 29).
From committee: Do pass, and re-refer to Com. on JUD. Re-referred. (Ayes 7. Noes 0.) (June 16).
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time, passed, and to Senate. (Ayes 50. Noes 25. Page 5423.)
Read third time, amended, and returned to third reading. (Page 5338.).
Read second time. To third reading.
Read second time and amended. Ordered returned to second reading.
From committee: Amend, and do pass as amended. (Ayes 8. Noes 1.) (May 3).
From committee: Do pass, and re-refer to Com. on B. & F. Re-referred. (Ayes 7. Noes 2.) (April 27).
In committee: Hearing postponed by committee.
From committee chair, with author's amendments: Amend, and re-refer to Com. on JUD. Read second time and amended.
Re-referred to Com. on JUD. by unanimous consent, and then be re-referred to Com. on B. & F.
From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.
Read first time.
From printer. May be heard in committee March 23.
Introduced. To print.
| Bill Text Versions | Format |
|---|---|
| AB2347 | HTML |
| 02/19/10 - Introduced | |
| 04/08/10 - Amended Assembly | |
| 04/20/10 - Amended Assembly | |
| 05/06/10 - Amended Assembly | |
| 05/28/10 - Amended Assembly | |
| 08/02/10 - Amended Senate | |
| 09/02/10 - Enrolled | |
| 09/30/10 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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