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Civil Code - CIV - CIV § 1917.615
Civil Code - CIV - CIV § 1917.615
The lien of a shared appreciation loan for seniors, including the total loan obligation, shall attach from the time of the recordation of the deed of trust securing the loan, and the lien, including the lien of the total loan obligation accrued or to be accrued, shall have priori
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Civil Code - CIV - CIV § 1917.616
Civil Code - CIV - CIV § 1917.616
A shared appreciation loan for seniors which bears a fixed interest rate complying with the usury provisions of Article XV of the California Constitution shall not be deemed to become usurious by reason of the payment of actual contingent interest pursuant to this chapter; provid
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Civil Code - CIV - CIV § 1917.617
Civil Code - CIV - CIV § 1917.617
The qualification requirements of Sections 25110, 25120, and 25130 of the Corporations Code do not apply to a shared appreciation loan for seniors to the extent the exemption afforded by subdivision (p) of Section 25100 of that code is applicable.
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Civil Code - CIV - CIV § 1917.618
Civil Code - CIV - CIV § 1917.618
Any loan made pursuant to this chapter shall be subject to Section 580b of the Code of Civil Procedure.
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Civil Code - CIV - CIV § 1917.619
Civil Code - CIV - CIV § 1917.619
Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution shall not apply to any obligation of any loan made by any lender pursuant to
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Civil Code - CIV - CIV § 1917.710
Civil Code - CIV - CIV § 1917.710
(a) The disclosures made pursuant to this chapter, as required, shall be the only disclosures required to be made pursuant to state law for shared appreciation loans for seniors, notwithstanding any contrary provision applicable to loans not made under this chapter, except those,
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Civil Code - CIV - CIV § 1917.711
Civil Code - CIV - CIV § 1917.711
(a) Each lender offering shared appreciation loans for seniors shall furnish to a prospective borrower, on the earlier of the dates on which the lender first provides written information concerning shared appreciation loans for seniors by the lender or provides a loan application
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Civil Code - CIV - CIV § 1917.712
Civil Code - CIV - CIV § 1917.712
(a) Each lender making a shared appreciation loan for seniors shall also furnish to the prospective borrower, prior to the consummation of the loan, the disclosures required by Subpart C of Federal Reserve Board Regulation Z (12 C.F.R. Part 226), including 12 C.F.R. Section 226.1
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Civil Code - CIV - CIV § 1917.713
Civil Code - CIV - CIV § 1917.713
Each lender making a shared appreciation loan for seniors shall additionally furnish to the prospective borrower, prior to consummation of the loan, a statement containing the following information: IMPORTANT INFORMATION ABOUT YOUR SHARED APPRECIATION LOAN FOR SENIORS You are bei
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Civil Code - CIV - CIV § 1917.714
Civil Code - CIV - CIV § 1917.714
Each deed of trust and evidence of debt executed in connection with a shared appreciation loan for seniors shall contain a statement, printed or written in a size equal to at least 12-point bold type, consisting of substantially the following language: “THIS IS A [DURATION] SHARE
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Civil Code - CIV - CIV § 1918.5
Civil Code - CIV - CIV § 1918.5
As used in this chapter: (a) “Evidence of debt” means a note or negotiable instrument. (b) “Secretary” means the Secretary of the Business, Consumer Services, and Housing. (c) “Secretary’s designee” means the director of a department within the agency that licenses or regulates t
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Civil Code - CIV - CIV § 1920
Civil Code - CIV - CIV § 1920
Any mortgage instrument that is made pursuant to the provisions of this chapter shall meet the following requirements: (a) Standards for the adjustment of interest rates or monthly payments shall consider factors which can reasonably be deemed to affect the ability of borrowers t
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Civil Code - CIV - CIV § 1921
Civil Code - CIV - CIV § 1921
(a) As used in this section: (1) “Adjustable-rate residential mortgage loan” means any loan or credit sale which is primarily for personal, family, or household purposes which bears interest at a rate subject to change during the term of the loan, whether predetermined or otherwi
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Civil Code - CIV - CIV § 1923
Civil Code - CIV - CIV § 1923
For purposes of this chapter, “reverse mortgage” means a nonrecourse loan secured by real property that meets all of the following criteria: (a) The loan provides cash advances to a borrower based on the equity or the value in a borrower’s owner-occupied principal residence. (b)
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Civil Code - CIV - CIV § 1923.10
Civil Code - CIV - CIV § 1923.10
This chapter shall only apply to those reverse mortgage loans executed on or after January 1, 1998.
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Civil Code - CIV - CIV § 1923.2
Civil Code - CIV - CIV § 1923.2
A reverse mortgage loan shall comply with all of the following requirements: (a) Prepayment, in whole or in part, shall be permitted without penalty at any time during the term of the reverse mortgage loan. For the purposes of this section, penalty does not include any fees, paym
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Civil Code - CIV - CIV § 1923.3
Civil Code - CIV - CIV § 1923.3
A reverse mortgage shall constitute a lien against the subject property to the extent of all advances made pursuant to the reverse mortgage and all interest accrued on these advances, and that lien shall have priority over any lien filed or recorded after recordation of a reverse
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Civil Code - CIV - CIV § 1923.4
Civil Code - CIV - CIV § 1923.4
For the purposes of this chapter, a property shall be deemed to be owner-occupied, notwithstanding that the legal title to the property is held in the name of a trust, provided that the occupant of the property is a beneficiary of that trust.
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Civil Code - CIV - CIV § 1923.5
Civil Code - CIV - CIV § 1923.5
(a) No reverse mortgage loan application shall be taken by a lender unless the loan applicant, prior to receiving counseling, has received from the lender the following plain language statement in conspicuous 16-point type or larger, advising the prospective borrower about counse
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Civil Code - CIV - CIV § 1923.6
Civil Code - CIV - CIV § 1923.6
The lender shall be presumed to have satisfied any disclosure duty imposed by this chapter if the lender provides a disclosure statement in the same form as provided in this chapter.
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Civil Code - CIV - CIV § 1923.7
Civil Code - CIV - CIV § 1923.7
No arrangement, transfer, or lien subject to this chapter shall be invalidated solely because of the failure of a lender to comply with any provision of this chapter. However, nothing in this section shall preclude the application of any other existing civil remedies provided by
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Civil Code - CIV - CIV § 1923.9
Civil Code - CIV - CIV § 1923.9
(a) To the extent that implementation of this section does not conflict with federal law resulting in the loss of federal funding, reverse mortgage loan payments made to a borrower shall be treated as proceeds from a loan and not as income for the purpose of determining eligibili
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Civil Code - CIV - CIV § 1925
Civil Code - CIV - CIV § 1925
Hiring is a contract by which one gives to another the temporary possession and use of property, other than money, for reward, and the latter agrees to return the same to the former at a future time.
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Civil Code - CIV - CIV § 1926
Civil Code - CIV - CIV § 1926
The products of a thing hired, during the hiring, belong to the hirer.
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Civil Code - CIV - CIV § 1927
Civil Code - CIV - CIV § 1927
An agreement to let upon hire binds the letter to secure to the hirer the quiet possession of the thing hired during the term of the hiring, against all persons lawfully claiming the same.