California Civil Code 1695.13 – It is unlawful for any person to initiate, enter into, negotiate, or …
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It is unlawful for any person to initiate, enter into, negotiate, or consummate any transaction involving residential real property in foreclosure, as defined in Section 1695.1, if such person, by the terms of such transaction, takes unconscionable advantage of the property owner in foreclosure.
(Added by Stats. 1980, Ch. 423, Sec. 10. Effective July 11, 1980.)
Terms Used In California Civil Code 1695.13
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- property: includes property real and personal. See California Civil Code 14
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.