California Health and Safety Code 51481 – Mortgages made by the agency under authority of this chapter shall be …
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Mortgages made by the agency under authority of this chapter shall be secured by a first deed of trust, or by a deed of trust junior to a first deed of trust if it is necessary to accomplish the purposes of this chapter. Except as otherwise specified in this chapter, the principal amount of, and the conditions of mortgage loans, shall be determined by the board.
(Added by Stats. 1990, Ch. 577, Sec. 1. Effective September 5, 1990.)
Terms Used In California Health and Safety Code 51481
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.