California’s One Action and Anti-Deficiency Laws

Posted October 15, 2009

In California, Commercial, investing, Los Angeles

At the the link is a ‘simplified’ overview of the California One Action and Anti Deficiency law authored by Alan Martin at Sheppard Mullin.

Some of the major points made in the following eight pages at the link are:

Once you have taken real estate collateral, you must foreclose judicially or non judicially. You cannot just ignore it.
Foreclosing Judicially, the process of obtaining title is slower, but a deficiency judgement may obtain at a value determined by the court.
Non-judicial foreclosure is faster, but a deficiency judgment cannot be obtained.

one action and anti deficiency

My thanks go to Dave Semmer at George Elkins Mortgage Brokerage 310-414-6344 for forwarding me this and the preceeding piece.

Commercial realtor

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