California Code of Civil Procedure 996.560 – If an agreement to sell real property affected by the lien created by …
If an agreement to sell real property affected by the lien created by the filing of a certificate was made before the filing of the certificate and the purchase price under the agreement was not due until after the filing of the certificate, and the purchaser is otherwise entitled to specific performance of the agreement:
(a) The court in an action to compel specific performance of the agreement shall order the purchaser to pay the purchase price, or so much of the purchase price as may be due, to the State Treasurer, and to take the State Treasurer’s receipt for payment.
Terms Used In California Code of Civil Procedure 996.560
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes both personal and real property. See California Code of Civil Procedure 17
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: includes the District of Columbia and the territories when applied to the different parts of the United States, and the words "United States" may include the district and territories. See California Code of Civil Procedure 17
(b) Upon payment, the purchaser is entitled to enforcement of specific performance of the agreement. The purchaser takes the real property free from the lien created by the filing of the certificate.
(c) The State Treasurer shall hold the payment pending the proceedings referred to in the certificate. The payment is subject to the lien created by the filing of the certificate.
(Added by Stats. 1982, Ch. 998, Sec. 1.)