CHAPTER 5. Shared Appreciation Loans [1917.110. - 1917.175.]

Chapter 5 repealed and added by Stats. 1982, Ch. 466, Sec. 12.

§§ 1917.110–1917.175 · 28 sections

1. 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
2. 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
3. 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
4. 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
5. 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
6. 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
7. 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