AB 1036

Bill Subjects

Abstract

Existing law imposes various preconditions for exercising a power of sale under a mortgage or deed of trust, including, among other things, recording a notice of default and a notice of sale. Existing law authorizes a borrower to seek an injunction and damages for violations of certain of the requirements described above, except as specified. Existing law authorizes the greater of treble actual damages or $50,000 in statutory damages if a violation of certain requirements is found to be intentional or reckless or resulted from willful misconduct, as specified. Existing law authorizes the awarding of attorney's fees for prevailing borrowers, as specified. Existing law provides that a grant of real property that is intended to be voidable on the performance of certain conditions is not voided as to the grantee or other specified persons having actual notice, unless a instrument of defeasance is recorded with the county recorder. Existing law provides that the maxims of jurisprudence set forth in the provisions of the California Civil Code do not qualify that code's provisions, but are instead intended to aid in their application. This bill would make technical, nonsubstantive changes to those provisions.