California Civil Code

§ 1917.173

CIV § 1917.173Div. 3 · Title 4 · Part 4 · Ch. 5 · Art. 7

Statute text

Each lender making a shared appreciation loan shall additionally furnish to the prospective borrower, prior to consummation of the loan, a statement containing the following information: IMPORTANT INFORMATION ABOUT YOUR SHARED APPRECIATION LOAN You are being offered a shared appreciation loan. Before you decide to accept this loan, read this statement, which is designed to provide important information you should consider. 1. Prevailing interest rate: __%. 2. Interest rate on this loan: __%. 3. Lender’s share of net appreciated value: __%. 4. Amount of this loan: $__. 5. Amount of the monthly payments: $__. 6. Term of this loan: __ years. 7. Amortization period on which payments are calculated: __ years. 8. Prepayment charge (if any): __.

Legislative history

Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.