California Civil Code

§ 2924p

CIV § 2924p Effective Jan 1, 2025Div. 3 · Title 14 · Part 4 · Ch. 2 · Art. 1

Statute text

(a)For purposes of this section, it is the intent of the Legislature to do all of the following:

(1)Allow for prospective owner-occupants and eligible bidders to have the first opportunity to purchase properties that have been acquired through the foreclosure process by an entity that annually forecloses on 175 or more residential real properties in California.

(2)Promote owner occupancy by enacting legislation consistent with the provisions of the federal First Look program that provides owner-occupants and affordable housing providers an opportunity for their offers to be considered on foreclosed properties prior to other offers.

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Legislative history

Amended by Stats. 2024, Ch. 580, Sec. 1. (AB 2897) Effective January 1, 2025.