Ca_Law

statute | California

Civil Code - CIV - CIV § 2985.4

  • UIDca_leginfo_codes:civ-2985-4
  • CitationCivil Code - CIV - CIV § 2985.4
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

Every seller of improved or unimproved real property under a real property sales contract who receives pro rata payments for insurance and taxes shall hold these amounts in trust for the purpose designated. These amounts shall not be disbursed for any other purpose without the co

Text

Every seller of improved or unimproved real property under a real property sales contract who receives pro rata payments for insurance and taxes shall hold these amounts in trust for the purpose designated. These amounts shall not be disbursed for any other purpose without the consent of the payor and any person or corporation holding an encumbrance on the property.
This section shall not apply to a state- or federal-supervised assignee of a seller who as agent for the seller receives and disburses payments.

Retrieval chunks

  • #1 | Civil Code - CIV - CIV § 2985.4

    Every seller of improved or unimproved real property under a real property sales contract who receives pro rata payments for insurance and taxes shall hold these amounts in trust for the purpose designated. These amounts shall not be disbursed for any other purpose without the consent of the payor and any person or co…