California Health and Safety Code

§ 25548.1

HSC § 25548.1 Effective Jan 1, 2023Div. 20 · Ch. 6.96

Statute text

As used in this chapter, the following terms have the following meaning:

(a)“Actual benefit” means the amount, if any, realized by the lender upon the disposition of property acquired through foreclosure or its equivalent as a direct result of a removal or remedial action undertaken by another person, not to exceed the amount, if any, by which the disposition proceeds exceed the sum of the balance of all of the following:

(1)The loan or obligation or the amount of the lien, evidenced by the loan or obligation outstanding at foreclosure or its equivalent.

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Legislative history

Amended by Stats. 2022, Ch. 258, Sec. 101. (AB 2327) Effective January 1, 2023. Operative January 1, 2024, pursuant to Sec. 130 of Stats. 2022, Ch. 258.