California § 1923. 1923. (Added by Stats. 1997, Ch. 797, Sec. 1.)

California Statutes

§ 1923. — 1923. (Added by Stats. 1997, Ch. 797, Sec. 1.)

California § 1923.

JurisdictionCalifornia

Code CIVCivil Code - CIV

Div. 3.DIVISION 3. OBLIGATIONS

Title4.

Part 4.TITLE 4. LOAN

Ch. 8.CHAPTER 8. Reverse Mortgages

This text of California § 1923. (1923. (Added by Stats. 1997, Ch. 797, Sec. 1.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Civil Code - CIV Code § 1923. (2026).

Text

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)The loan requires no payment of principal or interest until the entire loan becomes due and payable.

(c)The loan is made by a lender licensed or chartered pursuant to the laws of this state or the United States.

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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)
The loan requires no payment of principal or interest until the entire loan becomes due and payable.
(c)
The loan is made by a lender licensed or chartered pursuant to the laws of this state or the United States.