TITLE 4. LOAN [1884. - 1923.10.]
Title 4 enacted 1872.
§§ 1884–1923.10 · 148 sections
CHAPTER 1. Loan for Use §§ 1884–1896 · 13 sections
- § 1884 A loan for use is a contract by which one gives to another the temporary possession and use of personal property, and the latter agrees to return the same…
- § 1885 A loan for use does not transfer the title to the thing; and all its increase during the period of the loan belongs to the lender.
- § 1886 A borrower for use must use great care for the preservation in safety and in good condition of the thing lent.
- § 1887 One who borrows a living animal for use, must treat it with great kindness, and provide everything necessary and suitable for it.
- § 1888 A borrower for use is bound to have and to exercise such skill in the care of the thing lent as he causes the lender to believe him to possess.
- § 1889 A borrower for use must repair all deteriorations or injuries to the thing lent, which are occasioned by his negligence, however slight.
- § 1890 The borrower of a thing for use may use it for such purposes only as the lender might reasonably anticipate at the time of lending.
- § 1891 The borrower of a thing for use must not part with it to a third person, without the consent of the lender.
- § 1892 The borrower of a thing for use must bear all its expenses during the loan, except such as are necessarily incurred by him to preserve it from unexpected and…
- § 1893 The lender of a thing for use must indemnify the borrower for damage caused by defects or vices in it, which he knew at the time of lending, and concealed from…
- § 1894 The lender of a thing for use may at any time require its return, even though he lent it for a specified time or purpose. But if, on the faith of such an…
- § 1895 If a thing is lent for use for a specified time or purpose, it must be returned to the lender without demand, as soon as the time has expired, or the purpose…
- § 1896 The borrower of a thing for use must return it to the lender, at the place contemplated by the parties at the time of lending; or if no particular place was so…
CHAPTER 1.5. Loans to Museums for Indefinite or Long Terms §§ 1899–1899.11 · 12 sections
- § 1899 The Legislature finds and declares as follows: (a) Many museums have benefited greatly from having property loaned to them for study or display. Problems have…
- § 1899.1 For the purposes of this chapter: (a) A “museum” is an institution located in California and operated by a nonprofit corporation or public agency, primarily…
- § 1899.2 (a) When a museum is required to give a lender notice pursuant to the provisions of this chapter, the museum shall be deemed to have given a lender notice if…
- § 1899.3 (a) If, on or after January 1, 1984, a museum accepts a loan of property for an indefinite term, or for a term in excess of seven years, the museum shall…
- § 1899.4 (a) It is the responsibility of the owner of property on loan to a museum to notify the museum promptly in writing of any change of address or change in…
- § 1899.5 (a) A notice of intent to preserve an interest in property on loan to a museum filed pursuant to this chapter shall be in writing, shall contain a description…
- § 1899.6 (a) Unless there is a written loan agreement to the contrary, a museum may apply conservation measures to or dispose of property on loan to the museum without…
- § 1899.7 (a) Except as provided in subdivision (b), if a museum is unable to give the lender the notice required by subdivision (d) of Section 1899.3 of injury to or…
- § 1899.8 Effective January 1, 1985, no action shall be brought against a museum for damages because of injury to or loss of property loaned to the museum more than (1)…
- § 1899.9 (a) A museum may give the lender notice of the museum’s intent to terminate a loan which was made for an indefinite term, or which was made on or after January…
- § 1899.10 (a) The three-year limitation on actions to recover personal property prescribed in Code of Civil Procedure Section 338.3 shall run from the date the museum…
- § 1899.11 (a) The provisions of this chapter supersede the provisions of the Unclaimed Property Law (commencing with Section 1500 of the Code of Civil Procedure) except…
CHAPTER 2. Loan for Exchange §§ 1902–1906 · 5 sections
- § 1902 A loan for exchange is a contract by which one delivers personal property to another, and the latter agrees to return to the lender a similar thing at a future…
- § 1903 A loan, which the borrower is allowed by the lender to treat as a loan for use, or for exchange, at his option, is subject to all the provisions of this…
- § 1904 By a loan for exchange the title to the thing lent is transferred to the borrower, and he must bear all its expenses, and is entitled to all its increase.
- § 1905 A lender for exchange cannot require the borrower to fulfill his obligations at a time, or in a manner, different from that which was originally agreed upon.
- § 1906 Sections 1893, 1895, and 1896, apply to a loan for exchange.
CHAPTER 3. Loan of Money §§ 1912–1916.12 · 14 sections
- § 1912 A loan of money is a contract by which one delivers a sum of money to another, and the latter agrees to return at a future time a sum equivalent to that which…
- § 1913 A borrower of money, unless there is an express contract to the contrary, must pay the amount due in such money as is current at the time when the loan becomes…
- § [1914.] Section Nineteen Hundred and Fourteen. Whenever a loan of money is made, it is presumed to be made upon interest, unless it is otherwise expressly stipulated…
- § [1915.] Section Nineteen Hundred and Fifteen. Interest is the compensation allowed by law or fixed by the parties for the use, or forbearance, or detention of money.
- § 1916 When a rate of interest is prescribed by a law or contract, without specifying the period of time by which such rate is to be calculated, it is to be deemed an…
- § 1916.1 The restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution shall not apply to any loan, or any forbearance,…
- § 1916.2 The restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution do not apply to any loans made by, or forbearances…
- § 1916.5 (a) No increase in interest provided for in any provision for a variable interest rate contained in a security document, or evidence of debt issued in…
- § 1916.6 A security document, or evidence of debt issued in connection therewith, executed pursuant to Section 1916.5 may provide that the rate of interest shall not…
- § 1916.7 (a) Sections 1916.5, 1916.6, 1916.8, and 1916.9 of the Civil Code, and any other provision of law restricting or setting forth requirements for changes in the…
- § 1916.8 Any lender may make, purchase or participate in a renegotiable rate mortgage loan under this section if the loan complies with the provisions of this section…
- § 1916.9 (a) Every lender who offers a renegotiable rate mortgage loan pursuant to Section 1916.8 to a borrower who occupies or intends to occupy the property which is…
- § 1916.11 Notwithstanding any other remedy a borrower may have based on an alleged failure to comply with Sections 1916.5 through 1916.9, the lien of the mortgage or…
- § 1916.12 (a) The Legislature finds that the economic environment of financial institutions has become increasingly volatile as a result of regulatory revisions enacted…
CHAPTER 3.5. Shared Appreciation Loans §§ 1917–1917.006 · 7 sections
- § 1917 For purposes of this chapter: (a) “Contingent deferred interest” means the sum a borrower is obligated to pay to a lender pursuant to the documentation of a…
- § 1917.001 The relationship of the borrower and the lender in a shared appreciation loan transaction is that of debtor and creditor and shall not be, or be construed to…
- § 1917.002 A shared appreciation loan shall not be subject to any provisions of this code or the Financial Code which limits the interest rate or change of interest rate…
- § 1917.003 The lien or liens of a deed or deeds of trust securing a shared appreciation loan shall include and secure the principal amount of the shared appreciation…
- § 1917.004 (a) The lien of a shared appreciation loan, including the principle amount and all interest, whether accrued or to be accrued, and all amounts of contingent…
- § 1917.005 Lenders shall be exempt from the usury provisions of Article XV of the California Constitution with respect to shared appreciation loan transactions. This…
- § 1917.006 For purposes of this chapter: (a) “Shared appreciation loan” means, in addition to the meaning defined in Section 1917, a loan that obligates the borrower to…
CHAPTER 4. Shared Appreciation Loans of E.R.I.S.A. Pension Funds §§ 1917.010–1917.075 · 29 sections
ARTICLE 1. Legislative Findings and Declarations § 1917.010 · 1 section
- § 1917.010 The Legislature hereby finds and declares that: (a) It is necessary and essential that the state provide and promote alternative means of supplying affordable… see note
ARTICLE 2. Definitions § 1917.020 · 1 section
- § 1917.020 For purposes of this chapter: (a) “Adjusted fair market value” means all of the following: (1) The net sale price, in the case of a bona fide sale made in good… see note
ARTICLE 3. Terms and Conditions §§ 1917.030–1917.034 · 5 sections
- § 1917.030 Lenders may make shared appreciation loans pursuant to this chapter for the purchase of real property improved with one- to four-family dwelling units,… see note
- § 1917.031 A shared appreciation loan shall include the following terms and conditions: (a) The term of the loan, excluding refinancing under Section 1917.033, shall be… see note
- § 1917.032 (a) The borrower shall have the right to prepay, at any time, in full or in part, the principal loan balance of the shared appreciation loan, together with… see note
- § 1917.033 (a) If the shared appreciation loan is not prepaid in full or the real property securing the loan is not sold or transferred prior to maturity of the loan, the… see note
- § 1917.034 Nothing in this chapter shall preclude the borrower from obtaining any other financing, in lieu of the refinancing provided for in Section 1917.033, including… see note
ARTICLE 4. Annual Appraisals §§ 1917.040–1917.044 · 5 sections
- § 1917.040 The fair market value of the real property securing a shared appreciation loan shall be determined annually as provided in this article. The lender shall… see note
- § 1917.041 If the borrower disputes the amount of the appraisal, the borrower, within 30 days of the anniversary date of the loan, may procure an appraisal of the… see note
- § 1917.042 If the appraisal by the appraiser selected by the borrower is lower in amount than the appraisal by the appraiser selected by the lender, the amount to be used… see note
- § 1917.043 The appraisal amount, as determined pursuant to Section 1917.040 if the borrower does not dispute the appraisal amount, or 1917.042 if the borrower disputes… see note
- § 1917.044 The qualifications of the appraisers may be specified by the terms of the shared appreciation loan for purposes of this article and Article 5 (commencing with… see note
ARTICLE 5. Improvements § 1917.050 · 1 section
- § 1917.050 The borrower may have the cost of capital improvements to the security property completed within any 12-month period, and with an appraised value in excess of… see note
ARTICLE 6. General Provisions §§ 1917.060–1917.069 · 10 sections
- § 1917.060 The relationship of the borrower and the lender, as to a shared appreciation loan, is that of debtor and creditor and shall not be, or be construed to be, a… see note
- § 1917.061 Any waiver of any right of a borrower under the provisions of this chapter shall be void and unenforceable. see note
- § 1917.062 (a) Notwithstanding Section 711, a provision in a shared appreciation loan (not including the refinancing obligation) permitting the lender to accelerate the… see note
- § 1917.063 This chapter facilitates the making of shared appreciation financing in this state which conforms to the provisions of this chapter. The terms and conditions… see note
- § 1917.064 A shared appreciation loan shall not be subject to any provision of this code or the Financial Code which limits the interest rate or change of interest rate… see note
- § 1917.065 The lien of a deed of trust securing a shared appreciation loan shall include and secure the principal amount of the shared appreciation loan, and all… see note
- § 1917.066 The lien of a shared appreciation loan, including the principal amount and all interest, whether accrued or to be accrued, and all amounts of contingent… see note
- § 1917.067 Lenders shall be exempt from the usury provisions of Article XV of the California Constitution with respect to shared appreciation loans made pursuant to this… see note
- § 1917.068 The qualification requirements of Sections 25110, 25120, and 25130 of the Corporations Code shall not apply to a shared appreciation loan, provided (1) the… see note
- § 1917.069 The aggregate amount of any fee charged to the borrower for processing an application and preparing any necessary documents in connection with originating a… see note
ARTICLE 7. Notices and Disclosures §§ 1917.070–1917.075 · 6 sections
- § 1917.070 (a) The disclosures made pursuant to this chapter, as required, shall be the only disclosures required to be made pursuant to state law for shared appreciation… see note
- § 1917.071 (a) Each lender offering shared appreciation loans shall furnish to a prospective borrower, on the earlier of the date on which the lender first provides… see note
- § 1917.072 (a) Each lender making a shared appreciation loan shall also furnish to the prospective borrower, prior to the consummation of the loan, the disclosures… see note
- § 1917.073 Each lender making a shared appreciation loan shall additionally furnish to the prospective borrower, prior to the consummation of the loan, a statement… see note
- § 1917.074 Each deed of trust and evidence of debt executed in connection with a shared appreciation loan shall contain a statement, printed or written in a size equal to… see note
- § 1917.075 Where, pursuant to any provision of law, the lender is required to disclose the amount of interest due or to be due under a shared appreciation loan and the… see note
CHAPTER 5. Shared Appreciation Loans §§ 1917.110–1917.175 · 28 sections
ARTICLE 1. Legislative Findings and Declarations § 1917.110 · 1 section
- § 1917.110 The Legislature hereby finds and declares that: (a) It is necessary and essential that the state provide and promote alternative means of supplying affordable… see note
ARTICLE 2. Definitions § 1917.120 · 1 section
- § 1917.120 For purposes of this chapter: (a) “Borrower” means the recipient or recipients of a shared appreciation loan and includes any successor in interest to the… see note
ARTICLE 3. Terms and Conditions §§ 1917.130–1917.135 · 6 sections
- § 1917.130 Lenders may make shared appreciation loans pursuant to this chapter for the purchase of real property improved with one- to four-dwelling units, including… see note
- § 1917.131 A shared appreciation loan shall include the following terms and conditions: (a) The term of the loan, excluding any refinancing under Section 1917.133, shall… see note
- § 1917.132 (a) The borrower shall have the right to prepay, at any time, in full or in part, the principal loan balance of the shared appreciation loan, together with… see note
- § 1917.133 (a) If a shared appreciation loan with an original term of less than 10 years is not prepaid in full or the property is not sold or transferred prior to… see note
- § 1917.134 Except as provided in this article, the terms and conditions of the refinancing loan shall be subject to all laws applicable to loans in effect on the date of… see note
- § 1917.135 Nothing in this chapter shall preclude the borrower from obtaining any other financing, in lieu of the refinancing provided for in Section 1917.133, including… see note
ARTICLE 4. Determination of Fair Market Value §§ 1917.140–1917.142 · 3 sections
- § 1917.140 The borrower may, at any time for the purpose of facilitating a sale of the property, request the lender to stipulate the minimum amount which the lender… see note
- § 1917.141 (a) In the case of a sale for cash within 90 days after the lender stipulates, under the provisions of Section 1917.140, a minimum amount which the lender… see note
- § 1917.142 When Section 1917.141 requires the application of this section, the fair market value shall be determined as the average of two appraisals of the property… see note
ARTICLE 5. Improvements §§ 1917.150–1917.151 · 2 sections
- § 1917.150 The borrower may have the value of capital improvements added to the borrower’s cost of the property, for purposes of determining net appreciated value and the… see note
- § 1917.151 Nothing in this article shall preclude a shared appreciation loan from providing the borrower with a greater credit for improvements than specified in this… see note
ARTICLE 6. General Provisions §§ 1917.160–1917.168 · 9 sections
- § 1917.160 The relationship of the borrower and the lender, as to a shared appreciation loan, is that of debtor and creditor and shall not be, or be construed to be, a… see note
- § 1917.161 Any waiver of any right of a borrower under the provisions of this chapter shall be void and unenforceable. see note
- § 1917.162 (a) Notwithstanding Section 711, a provision in a shared appreciation loan made pursuant to this chapter permitting the lender to accelerate the maturity date… see note
- § 1917.163 This chapter facilitates the making of shared appreciation financing in this state which conforms to the provisions of this chapter. The terms and conditions… see note
- § 1917.164 A shared appreciation loan shall not be subject to any provision of this code or the Financial Code which limits the interest rate or change of interest rate… see note
- § 1917.165 The lien of a deed of trust securing a shared appreciation loan shall include and secure the principal amount of the shared appreciation loan, and all… see note
- § 1917.166 The lien of a shared appreciation loan, including the principal amount and all interest, whether accrued or to be accrued, and all amounts of contingent… see note
- § 1917.167 A shared appreciation loan which at origination bears a fixed interest rate complying with the usury provisions of Article XV of the California Constitution… see note
- § 1917.168 The qualification requirements of Sections 25110, 25120, and 25130 of the Corporations Code do not apply to a shared appreciation loan to the extent the… see note
ARTICLE 7. Notices and Disclosures §§ 1917.170–1917.175 · 6 sections
- § 1917.170 (a) The disclosures made pursuant to this chapter, as required, shall be the only disclosures required to be made pursuant to state law for shared appreciation… see note
- § 1917.171 (a) Each lender offering shared appreciation loans shall furnish to a prospective borrower, on the earlier of the dates on which the lender first provides… see note
- § 1917.172 (a) Each lender making a shared appreciation loan shall also furnish to the prospective borrower, prior to the consummation of the loan, the disclosures… see note
- § 1917.173 Each lender making a shared appreciation loan shall additionally furnish to the prospective borrower, prior to consummation of the loan, a statement containing… see note
- § 1917.174 Each deed of trust and evidence of debt executed in connection with a shared appreciation loan shall contain a statement, printed or written in a size equal to… see note
- § 1917.175 Where, pursuant to any provision of law, the lender is required to disclose the amount of interest due or to be due under a shared appreciation loan and the… see note
CHAPTER 6. Loans of E.R.I.S.A. Pension Funds §§ 1917.210–1917.220 · 2 sections
- § 1917.210 Each pension fund or retirement system which is subject to the Employee Retirement Income Security Act of 1974 (P.L. 93-406), shall not be required to obtain…
- § 1917.220 Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1…
CHAPTER 7. Shared Appreciation Loans for Seniors §§ 1917.320–1917.714 · 26 sections
ARTICLE 1. Definitions § 1917.320 · 1 section
- § 1917.320 For the purposes of this chapter: (a) “Actual contingent interest” means the lender’s appreciation share of the net appreciated amount. In no event, however,…
ARTICLE 2. Terms and Conditions §§ 1917.330–1917.334 · 5 sections
- § 1917.330 Lenders may make shared appreciation loans for seniors pursuant to this chapter for the refinancing of real property improved with one- to four-dwelling units,…
- § 1917.331 (a) A shared appreciation loan for seniors shall include all of the following: (1) The term of the loan shall be for an open-ended term, terminating upon the…
- § 1917.332 Any provision in any loan made pursuant to this chapter for the discontinuation or termination of a monthly annuity other than upon the occurrence of a…
- § 1917.333 (a) The borrower shall have the right to prepay, at any time, in full or in part, the total loan obligation.
- § 1917.334 Except as provided in this article, the terms and conditions of the shared appreciation loan for seniors shall be subject to all laws applicable to loans in…
ARTICLE 3. Determination of Fair Market Value §§ 1917.410–1917.412 · 3 sections
- § 1917.410 The borrower, at any time for the purpose of facilitating a sale of the property or prepaying or refinancing the loan, may request the lender to stipulate the…
- § 1917.411 (a) In the case of a sale for cash within 90 days after the lender stipulates, under the provisions of Section 1917.410, a minimum amount which the lender…
- § 1917.412 When Section 1917.411 requires the application of this section, the fair market value shall be determined by averaging two appraisals of the property performed…
ARTICLE 4. Improvements §§ 1917.510–1917.511 · 2 sections
- § 1917.510 The borrower may have the value of capital improvements added to the fair market value of the borrower’s property, for purposes of determining the total loan…
- § 1917.511 Nothing in this article shall preclude a shared appreciation loan for seniors from providing the borrower with a greater credit for improvements than specified…
ARTICLE 5. General Provisions §§ 1917.610–1917.619 · 10 sections
- § 1917.610 The relationship of the borrower and the lender of a shared appreciation loan for seniors is that of debtor and creditor and shall not be, or be construed to…
- § 1917.611 Any waiver of any right of a borrower under the provisions of this chapter shall be void and unenforceable.
- § 1917.612 This chapter facilitates one method of making shared appreciation loans to senior citizens in this state. The terms and conditions of any shared appreciation…
- § 1917.613 A shared appreciation loan for seniors shall not be subject to any provision of this code or the Financial Code which limits the interest rate or change of…
- § 1917.614 The lien of a deed of trust securing a shared appreciation loan for seniors shall include and secure the total loan obligation of the shared appreciation loan…
- § 1917.615 The lien of a shared appreciation loan for seniors, including the total loan obligation, shall attach from the time of the recordation of the deed of trust…
- § 1917.616 A shared appreciation loan for seniors which bears a fixed interest rate complying with the usury provisions of Article XV of the California Constitution shall…
- § 1917.617 The qualification requirements of Sections 25110, 25120, and 25130 of the Corporations Code do not apply to a shared appreciation loan for seniors to the…
- § 1917.618 Any loan made pursuant to this chapter shall be subject to Section 580b of the Code of Civil Procedure.
- § 1917.619 Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1…
ARTICLE 6. Notices and Disclosures §§ 1917.710–1917.714 · 5 sections
- § 1917.710 (a) The disclosures made pursuant to this chapter, as required, shall be the only disclosures required to be made pursuant to state law for shared appreciation…
- § 1917.711 (a) Each lender offering shared appreciation loans for seniors shall furnish to a prospective borrower, on the earlier of the dates on which the lender first…
- § 1917.712 (a) Each lender making a shared appreciation loan for seniors shall also furnish to the prospective borrower, prior to the consummation of the loan, the…
- § 1917.713 Each lender making a shared appreciation loan for seniors shall additionally furnish to the prospective borrower, prior to consummation of the loan, a…
- § 1917.714 Each deed of trust and evidence of debt executed in connection with a shared appreciation loan for seniors shall contain a statement, printed or written in a…
CHAPTER 7.5. Mortgage Loans §§ 1918.5–1921 · 3 sections
- § 1918.5 As used in this chapter: (a) “Evidence of debt” means a note or negotiable instrument. (b) “Secretary” means the Secretary of Business and Consumer Services.…
- § 1920 Any mortgage instrument that is made pursuant to the provisions of this chapter shall meet the following requirements: (a) Standards for the adjustment of…
- § 1921 (a) As used in this section: (1) “Adjustable-rate residential mortgage loan” means any loan or credit sale which is primarily for personal, family, or…
CHAPTER 8. Reverse Mortgages §§ 1923–1923.10 · 9 sections
- § 1923 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…
- § 1923.2 A reverse mortgage loan shall comply with all of the following requirements: (a) Prepayment, in whole or in part, shall be permitted without penalty at any…
- § 1923.3 A reverse mortgage shall constitute a lien against the subject property to the extent of all advances made pursuant to the reverse mortgage and all interest…
- § 1923.4 For the purposes of this chapter, a property shall be deemed to be owner-occupied, notwithstanding that the legal title to the property is held in the name of…
- § 1923.5 (a) No reverse mortgage loan application shall be taken by a lender unless the loan applicant, prior to receiving counseling, has received from the lender the…
- § 1923.6 The lender shall be presumed to have satisfied any disclosure duty imposed by this chapter if the lender provides a disclosure statement in the same form as…
- § 1923.7 No arrangement, transfer, or lien subject to this chapter shall be invalidated solely because of the failure of a lender to comply with any provision of this…
- § 1923.9 (a) To the extent that implementation of this section does not conflict with federal law resulting in the loss of federal funding, reverse mortgage loan…
- § 1923.10 This chapter shall only apply to those reverse mortgage loans executed on or after January 1, 1998.