Terms Used In California Codes > Health and Safety Code > Division 20 > Chapter 6.96 - Hazardous Materials Liability of Lenders and Fiduciaries

• Actual benefit: means the amount, if any, realized by the lender upon the disposition of property acquired through foreclosure or its equivalent as a direct result of a removal or remedial action undertaken by another person, not to exceed the amount, if any, by which the disposition proceeds exceed the sum of the balance of all of the following:

  California Health and Safety Code 25548.1

• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Bird: means a wild bird or part of a wild bird. See California Fish and Game Code 22
• board: means any entity listed in Section 101, the entities referred to in Sections 1000 and 3600, the State Bar, the Department of Real Estate, and any other state agency that issues a license, certificate, or registration authorizing a person to engage in a business or profession. See California Business and Professions Code 31
• Commission: means the Fish and Game Commission, and "commissioner" means a member of the Fish and Game Commission. See California Fish and Game Code 30
• Conviction: A judgement of guilt against a criminal defendant.
• County: includes city and county. See California Health and Safety Code 14
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Damages: includes compensatory damages, exemplary damages, punitive damages, and costs of every kind and nature, including, but not limited to, costs of a removal or remedial action. See California Health and Safety Code 25548.1
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence of an interest: includes , but is not limited to, all of the following:

  California Health and Safety Code 25548.1

• Fiduciary: means a person who is acting in any of the following capacities:

  California Health and Safety Code 25548.1

• Finance lease: means a transaction with respect to which both of the following apply:

  California Health and Safety Code 25548.1

• Forbearance: A means of handling a delinquent loan. A
• 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}
• Foreclosure or its equivalent: means the acquisition of property by a lender through any of the following:

  California Health and Safety Code 25548.1

• Indicia of ownership: means evidence of a security interest, evidence of an interest in a security interest, or evidence of an interest in real or personal property securing a loan or other obligation, including, but not limited to, any legal or equitable title to real or personal property acquired incident to foreclosure or its equivalent. See California Health and Safety Code 25548.1
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lender: includes either of the following persons:

  California Health and Safety Code 25548.1

• Loan or obligation: means a loan, revolving or nonrevolving line of credit, finance lease, sale-leaseback that provides for a purchase option in favor of the lessee, installment sale contract, sale on account, or other credit sale, letter of credit, forbearance or guaranty, collateral pledge, or other suretyship obligation, and any extension, renewal, or modification thereof. See California Health and Safety Code 25548.1
• Mammal: means a wild or feral mammal or part of a wild or feral animal, but not a wild, feral, or undomesticated burro. See California Fish and Game Code 54
• Person: includes , but is not limited to, any city, county, district, the state, or the federal government, or any department, subdivision, or agency thereof. See California Health and Safety Code 25548.1
• Person: means any natural person or any partnership, corporation, limited liability company, trust, or other type of association. See California Fish and Game Code 67
• Personal property: All property that is not real property.
• Primarily to protect a security interest: means that the indicia of ownership of a lender are held primarily for the purpose of securing payment or performance of an obligation. See California Health and Safety Code 25548.1
• Probate: Proving a will
• Process: includes a writ or summons issued in the course of judicial proceedings of either a civil or criminal nature. See California Government Code 22
• property: includes any real or personal property in which the obligor has or had an ownership, leasehold, or possessory interest, whether or not it was the subject of a security interest for the loan or obligation. See California Health and Safety Code 25548.1
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Removal: means the cleanup or removal of released hazardous materials from the environment or the taking of other actions that may be necessary to prevent, minimize, or mitigate damages that may otherwise result from a release or threatened release, as further defined in Section 101(23) of the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U. See California Health and Safety Code 25548.1
• Security interest: means an interest in a property created or established for the purpose of securing a loan or obligation. See California Health and Safety Code 25548.1
• Subdivision: means a subdivision of the section in which that term occurs unless some other section is expressly mentioned. See California Fish and Game Code 73
• Take: means hunt, pursue, catch, capture, or kill, or attempt to hunt, pursue, catch, capture, or kill. See California Fish and Game Code 86
• Work out: means those actions by which a lender, at any time prior to foreclosure or its equivalent, seeks to prevent, cure, or mitigate a default by the borrower, or to preserve or prevent the diminution of the value of the property, security interest, or loan or obligation. See California Health and Safety Code 25548.1