{"code":"CIV","codeName":"Civil Code","section":"1923","citation":"Civ. Code, § 1923","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 3. OBLIGATIONS [1427. - 3273.91.]","url":"https://blackletter.si/civil-code/division-3"},{"name":"PART 4. OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS [1738. - 3273.91.]","url":"https://blackletter.si/civil-code/division-3/part-4"},{"name":"TITLE 4. LOAN [1884. - 1923.10.]","url":"https://blackletter.si/civil-code/division-3/part-4/title-4"},{"name":"CHAPTER 8. Reverse Mortgages [1923. - 1923.10.]","url":"https://blackletter.si/civil-code/division-3/part-4/title-4/chapter-8"}],"history":"Added by Stats. 1997, Ch. 797, Sec. 1.   Effective January 1, 1998.","effective":"1998-01-01","html":"<p>For purposes of this chapter, “reverse mortgage” means a nonrecourse loan secured by real property that meets all of the following criteria:</p><p>(a) The loan provides cash advances to a borrower based on the equity or the value in a borrower’s owner-occupied principal residence.</p><p>(b) The loan requires no payment of principal or interest until the entire loan becomes due and payable.</p><p>(c) The loan is made by a lender licensed or chartered pursuant to the laws of this state or the United States.</p>","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.","otherVersions":[],"url":"https://blackletter.si/civil-code/reverse-mortgages-1923","source":"California Legislative Information bulk export (pubinfo)"}