Tim Grayson
- Democratic
- Assemblymember
- District 15
Author
Existing law prescribes various requirements to be satisfied before the exercise of a power of sale under a mortgage or deed of trust and prescribes a procedure for the exercise of that power. Existing law, until January 1, 2026, prescribes a process in connection with a trustee's sale of property under a power of sale contained in a deed of trust or mortgage on real property containing one to 4 residential units, inclusive, that provides specified bidding priorities to certain parties, including prospective owner-occupants. This bill would prescribe requirements that would apply to sales of real property containing one to 4 residential dwelling units, inclusive, that is acquired through foreclosure under a mortgage or deed of trust by an institution or that is acquired at a foreclosure sale by an institution, as defined. The bill would require the institution, during the first 30 days after a property is listed, as specified, to only accept offers from eligible bidders, as defined, and to respond, in writing, to all offers received from eligible bidders before considering any other offers. This bill would require an eligible bidder to submit an affidavit or declaration, as specified, with their offer to an institution. By expanding the crime of perjury, this bill would impose a state-mandated local program. This bill would also prohibit an institution from conducting a bundled sale, as defined. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.
Chaptered by Secretary of State - Chapter 865, Statutes of 2022.
Approved by the Governor.
Enrolled and presented to the Governor at 4 p.m.
Assembly Rule 77(a) suspended.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 75. Noes 0.).
Read third time. Passed. Ordered to the Assembly. (Ayes 40. Noes 0. Page 4979.).
In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 25 pursuant to Assembly Rule 77.
Ordered to special consent calendar.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 7. Noes 0.) (August 11).
Read second time and amended. Re-referred to Com. on APPR.
From committee: Amend, and do pass as amended and re-refer to Com. on APPR with recommendation: To Consent Calendar. (Ayes 11. Noes 0.) (June 21).
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 76. Noes 0. Page 4912.)
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 16. Noes 0.) (May 11).
Read second time and amended.
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 9. Noes 0.) (April 26).
From committee chair, with author's amendments: Amend, and re-refer to Com. on JUD. Read second time and amended.
From printer. May be heard in committee March 18.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB2170 | HTML |
| 02/15/22 - Introduced | |
| 04/18/22 - Amended Assembly | |
| 04/27/22 - Amended Assembly | |
| 06/23/22 - Amended Senate | |
| 08/26/22 - Enrolled | |
| 09/30/22 - Chaptered |
| Document | Format |
|---|---|
| 04/22/22- Assembly Judiciary | |
| 05/09/22- Assembly Appropriations | |
| 05/13/22- ASSEMBLY FLOOR ANALYSIS | |
| 06/17/22- Senate Judiciary | |
| 07/29/22- Senate Appropriations | |
| 08/13/22- Sen. Floor Analyses | |
| 08/23/22- ASSEMBLY FLOOR ANALYSIS |
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