Ellen Corbett
- Democratic
Author
Existing law provides that no deficiency judgment shall lie following a judicial foreclosure with respect to certain enumerated circumstances, including, among others, after a sale of real property or an estate for years therein for failure of the purchaser to complete his or her contract of sale. Existing law prohibits a judgment to be rendered for a deficiency on a note secured by a deed of trust or mortgage on real property or an estate for years therein, as specified. This bill would prohibit a deficiency from being owed or collected following a judicial foreclosure with respect to the enumerated circumstances. The bill also would prohibit a deficiency from being owed or collected for a deficiency on a note secured by a deed of trust or mortgage on real property or an estate for years therein, as specified, and would make nonsubstantive changes to these provisions. The bill also would express the intent of the Legislature that these provisions would not impact existing law regarding the liability of a guarantor, pledgor, or other surety with respect to a deficiency, nor existing law regarding other collateral pledged to secure the obligation that is the subject of a deficiency.
Approved by the Governor.
Chaptered by Secretary of State. Chapter 65, Statutes of 2013.
Enrolled and presented to the Governor at 3 p.m.
Assembly amendments concurred in. (Ayes 34. Noes 0. Page 1600.) Ordered to engrossing and enrolling.
In Senate. Concurrence in Assembly amendments pending.
Read third time. Passed. (Ayes 75. Noes 1. Page 2130.) Ordered to the Senate.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 9. Noes 0.) (June 18).
From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD.
Hearing postponed by committee.
In Assembly. Read first time. Held at Desk.
Read third time. Passed. (Ayes 23. Noes 11. Page 805.) Ordered to the Assembly.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 5. Noes 2. Page 663.) (April 23).
Set for hearing April 23.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD.
From printer. May be acted upon on or after March 24.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB426 | HTML |
| 02/21/13 - Introduced | |
| 04/01/13 - Amended Senate | |
| 06/11/13 - Amended Assembly | |
| 07/02/13 - Enrolled | |
| 07/11/13 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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