California § 11010.5. 11010.5. (Amended by Stats. 1992, Ch. 864, Sec. 1.)

California Statutes

§ 11010.5. — 11010.5. (Amended by Stats. 1992, Ch. 864, Sec. 1.)

California·Code BPC Business and Professions Code - BPC·Div. 4. DIVISION 4. REAL ESTATE·Part 2. PART 2. REGULATION OF TRANSACTIONS·Ch. 1. CHAPTER 1. Subdivided Lands·Art. 2. ARTICLE 2. Investigation, Regulation and Report

The filing of a second notice of intention to sell and a second report of the commissioner under this article shall not be required when all the following conditions have been met:

(a)where there has been a previous subdivision report and the lots are subsequently acquired through any foreclosure action, or by a deed in lieu of foreclosure, by a bank, life insurance company, industrial loan company, credit union, or savings and loan association licensed or operating under the provisions of a state or federal law if the acquired lots, either improved or unimproved, will be sold in conformance with the previously issued subdivision public report;

(b)the original public report is given to the first purchasers of the lots in the foreclosed subdivision; and (c) the commissioner is notifie

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The filing of a second notice of intention to sell and a second report of the commissioner under this article shall not be required when all the following conditions have been met: (a) where there has been a previous subdivision report and the lots are subsequently acquired through any foreclosure action, or by a deed in lieu of foreclosure, by a bank, life insurance company, industrial loan company, credit union, or savings and loan association licensed or operating under the provisions of a state or federal law if the acquired lots, either improved or
unimproved, will be sold in conformance with the previously issued subdivision public report; (b) the original public report is given to the first purchasers of the lots in the foreclosed subdivision; and (c) the commissioner is notified of the change of ownership within 30 days of the acquisition of the title to such property.

California § 11010.5. (11010.5. (Amended by Stats. 1992, Ch. 864, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.