California § 2985.4. 2985.4. (Added by Stats. 1963, Ch. 560.)

California Statutes

§ 2985.4. — 2985.4. (Added by Stats. 1963, Ch. 560.)

California·Code CIV Civil Code - CIV·Div. 3. DIVISION 3. OBLIGATIONS·Title 14.·Part 4. TITLE 14. LIEN·Ch. 2c. CHAPTER 2c. Real Property Sales Contracts

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.

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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.

California § 2985.4. (2985.4. (Added by Stats. 1963, Ch. 560.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.