California Public Resources Code 4181 – When the property is sold, enough of the proceeds to satisfy the lien …
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When the property is sold, enough of the proceeds to satisfy the lien and the costs of the foreclosure shall be paid to the state. The surplus, if any, shall be paid to the owner of the property, if known, or if the property owner is not known, shall be paid into the court in which the lien was foreclosed for the use of the owner when the property owner is ascertained.
(Amended by Stats. 2021, Ch. 133, Sec. 64. (SB 272) Effective July 23, 2021.)
Terms Used In California Public Resources Code 4181
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.