Civ. Code, § 1923 · Chapter 8. Reverse Mortgages
Civ. Code, § 1923
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
For purposes of this chapter, “reverse mortgage” means a nonrecourse loan secured by real property that meets all of the following criteria:
(a) The loan provides cash advances to a borrower based on the equity or the value in a borrower’s owner-occupied principal residence.
(b) The loan requires no payment of principal or interest until the entire loan becomes due and payable.
(c) The loan is made by a lender licensed or chartered pursuant to the laws of this state or the United States.
Notes and commentary — not statutory text
History
Added by Stats. 1997, Ch. 797, Sec. 1. Effective January 1, 1998.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CIV§ionNum=1923.
- Text hash
- sha256 3785640b0f2e90103105a66a9f8e70186d07d0fe07099038b4c4986b2582e67d
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Cited by 1 provision
Provisions in this library whose text cites Civ. Code, § 1923. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.