section 726 fair market value limitations in California

2021(Roseleaf Corp. v. Chierighino (1963) 59 Cal.2d 35, 40 . . . .) Prior to 1933, a mortgagee was required to exhaust his or her security before proceeding directly against the mortgagor.

2012The junior’s right to recover should not be controlled by the whim of the senior, and there is no reason to extend the language of section 580d to reach that result.” (Roseleaf, supra, 59 Cal.2d at p. 44, italics added.) In the course of describing policy reasons why the fair market value limitations of sections 726 and 580a should not apply to a junior lienor seeking a deficiency judgment, Roseleaf added: “The position of a junior lienor whose security is lost through a senior sale is different from that of a selling senior lienor.

1998Section 580b provides in pertinent part: "No deficiency judgment shall he in any event ... under a deed of trust ... given to the vendor to secure payment of the balance of the purchase price of that real property..., or under a deed of trust ... on a dwelling for not more than four families given to a lender to secure repayment of a loan which was in fact used to pay all or part of the purchase price of that dwelling occupied, entirely or in part, by the purchaser." It was enacted in 1933 as part of a series of statutes, including the fair-market-value limitations of sections 726 and 580a, th

1998In Cornelison v. Kornbluth, supra, 15 Cal.3d at p. 601 , the court observed that “[i]n certain situations,” *319 the Legislature regarded deficiency judgments as being "too oppressive,” even when restricted by the fair-market-value limitations of sections 726 and 580a.

1999The Court of Appeal concluded that the language of subdivision (b) required that the date of the actual foreclosure sale be used to value the property. “ ‘The method of sale is through the execution of a writ of sale. [Citations.] The sale is at auction to the highest bidder . . . and terminates upon acceptance of the last and highest bid or when the sale proceeds are sufficient to satisfy the money judgment (i.e., the debt). [Citation.] “ ‘If the sale proceeds are insufficient to satisfy the amount of the indebtedness, then the creditor may apply to the court within three months of the date o

1999The Court of Appeal concluded that the language of subdivision (b) required that the date of the actual foreclosure sale be used to value the property. “ ‘The method of sale is through the execution of a writ of sale. [Citations.] The sale is at auction to the highest bidder . . . and terminates upon acceptance of the last and highest bid or when the sale proceeds are sufficient to satisfy the money judgment (i.e., the debt). [Citation.] “ ‘If the sale proceeds are insufficient to satisfy the amount of the indebtedness, then the creditor may apply to the court within three months of the date o

1998Section 580b provides in pertinent part: "No deficiency judgment shall he in any event ... under a deed of trust ... given to the vendor to secure payment of the balance of the purchase price of that real property..., or under a deed of trust ... on a dwelling for not more than four families given to a lender to secure repayment of a loan which was in fact used to pay all or part of the purchase price of that dwelling occupied, entirely or in part, by the purchaser." It was enacted in 1933 as part of a series of statutes, including the fair-market-value limitations of sections 726 and 580a, th

1998Section 580b provides in pertinent part: "No deficiency judgment shall he in any event ... under a deed of trust ... given to the vendor to secure payment of the balance of the purchase price of that real property..., or under a deed of trust ... on a dwelling for not more than four families given to a lender to secure repayment of a loan which was in fact used to pay all or part of the purchase price of that dwelling occupied, entirely or in part, by the purchaser." It was enacted in 1933 as part of a series of statutes, including the fair-market-value limitations of sections 726 and 580a, th

1998Section 580b provides in pertinent part: "No deficiency judgment shall he in any event ... under a deed of trust ... given to the vendor to secure payment of the balance of the purchase price of that real property..., or under a deed of trust ... on a dwelling for not more than four families given to a lender to secure repayment of a loan which was in fact used to pay all or part of the purchase price of that dwelling occupied, entirely or in part, by the purchaser." It was enacted in 1933 as part of a series of statutes, including the fair-market-value limitations of sections 726 and 580a, th

1998Section 580b provides in pertinent part: "No deficiency judgment shall he in any event ... under a deed of trust ... given to the vendor to secure payment of the balance of the purchase price of that real property..., or under a deed of trust ... on a dwelling for not more than four families given to a lender to secure repayment of a loan which was in fact used to pay all or part of the purchase price of that dwelling occupied, entirely or in part, by the purchaser." It was enacted in 1933 as part of a series of statutes, including the fair-market-value limitations of sections 726 and 580a, th

1998(Citrus State Bank v. McKendrick (1989) 215 Cal.App.3d 941, 949 [ 263 Cal.Rptr. 781 ].) The fair value provision of section 726 limits the size of the deficiency judgment.

1998(Citrus State Bank v. McKendrick (1989) 215 Cal.App.3d 941, 949 [ 263 Cal.Rptr. 781 ].) The fair value provision of section 726 limits the size of the deficiency judgment.

1985(People v. Shirokow (1980) 26 Cal.3d 301, 306-307 [ 162 Cal.Rptr. 30 , 605 P.2d 859 ].) The fair value provision of Code of Civil Procedure section 726 is a product of the Great Depression.

1985(People v. Shirokow (1980) 26 Cal.3d 301, 306-307 [ 162 Cal.Rptr. 30 , 605 P.2d 859 ].) The fair value provision of Code of Civil Procedure section 726 is a product of the Great Depression.