CaliforniaMortgages.
What it does
Existing law provides that 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 is not final until the earliest of various time periods. Existing law provides specified eligible bidders, defined to include prospective owner-occupants and eligible nonprofit corporations with certain attributes, various rights in connection with those sales, and sets forth procedures for eligible bidders to submit bids after those sales. Existing law authorizes the Attorney General, a county counsel, a city attorney, or a district attorney to bring an action to enforce these provisions as specified.
More detail
This bill would remove prospective owner-occupants and eligible nonprofit corporations from the definition of "eligible bidder." The bill would apply the provisions described above only to trustee's sales of eligible property, as defined. The bill would require eligible bidders who submit bids pursuant to the procedures described above to include in the bid an amount equal to 1.2% of the last and highest bid at the trustee's sale. The bill would authorize the last and highest bidder at a trustee's sale to bring an action against an eligible bidder, as specified. The bill would make conforming changes.
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Feb 2From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.Latest
- Jan 31Died pursuant to Art. IV, Sec. 10(c) of the Constitution.Major
- 2025
- May 23In committee: Held under submission.
- May 7In committee: Set, first hearing. Referred to APPR. suspense file.Minor
- Apr 22From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 12. Noes 0.) (April 22). Re-referred to Com. on APPR.Minor
- Vote recorded Do pass and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar. Result: pass.Lower
- Apr 22Re-referred to Com. on JUD.Minor
- Apr 21From committee chair, with author's amendments: Amend, and re-refer to Com. on JUD. Read second time and amended.Major
- Apr 10Re-referred to Com. on JUD. pursuant to Assembly Rule 96.Minor
- Apr 1Re-referred to Com. on B. & F.Minor
- Mar 28From committee chair, with author's amendments: Amend, and re-refer to Com. on B.&F. Read second time and amended.Major
- Mar 28Referred to Coms. on B.&F. and JUD.Minor
- Feb 21From printer. May be heard in committee March 23.
- Feb 20Read first time. To print.Introduced