Statute · California Financial Code
Cal. Fin. Code § 7600 — Successors in Interest in Loans
Cal. Fin. Code § 7600
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2007-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
In the case of any investment made by an association in a real estate loan, in the event all or part of the ownership of the real estate security becomes vested in a person other than the party or parties originally executing the security instruments and if there is not an agreement in writing…
Citator
Cal. Fin. Code § 7600 — Successors in Interest in Loans is in force in the current edition of the Code, and nothing recorded condemns it.
In the case of any investment made by an association in a real estate loan, in the event all or part of the ownership of the real estate security becomes vested in a person other than the party or parties originally executing the security instruments and if there is not an agreement in writing to the contrary, an association may, without notice to the party or parties, deal with a successor in interest to the mortgage and debt in the same manner as with the original party or parties, and may forbear to sue or may extend time for payment of or otherwise modify the terms of the debt, without discharging or in any way affecting the original liability of the party or parties or their debt.