Statute · California Civil Code
Cal. Civ. Code § 2985.4 — Real Property Sales Contracts
Cal. Civ. Code § 2985.4
- Type
- Statute
- Source
- California Civil Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Every seller of improved or unimproved real property under a real property sales contract who receives pro rata payments for insurance and taxes shall hold these amounts in trust for the purpose designated. These amounts shall not be disbursed for any other purpose without the consent of the…
Citator
Cal. Civ. Code § 2985.4 — Real Property Sales Contracts is in force in the current edition of the Code, and nothing recorded condemns it.
Every seller of improved or unimproved real property under a real property sales contract who receives pro rata payments for insurance and taxes shall hold these amounts in trust for the purpose designated. These amounts shall not be disbursed for any other purpose without the consent of the payor and any person or corporation holding an encumbrance on the property.
This section shall not apply to a state- or federal-supervised assignee of a seller who as agent for the seller receives and disburses payments.