Fin. Code, § 5115 · Article 2. General Definitions
Fin. Code, § 5115
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
“Real estate loan” means a loan or other obligation secured by a lien on real estate, if:
(a) The security property is real estate as defined pursuant to Section 658 of the Civil Code.
(b) The security interest of the association may be enforced as a real estate mortgage, deed of trust, or its equivalent.
(c) The security property is capable of separate appraisal.
(d) The association relies substantially upon the real estate as primary security for the loan.
(e) With regard to security property which is a leasehold or other interest for a period of years, the term of interest extends, or is subject to extension or renewal at the option of the association, for a term of at least five years following maturity of the loan.
Notes and commentary — not statutory text
History
Amended by Stats. 1984, Ch. 225, Sec. 4. Effective June 21, 1984.
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=FIN§ionNum=5115.
- Text hash
- sha256 f3c57fef25c9bc7fdcd86d79ce07d7867ea858df4208f7aa996c71cd573134b8
- 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
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