Adobe PDF - California Department of Housing and Community ...

MOBILEHOMES-MANUFACTURED HOUSING ACT OF 1980
number(s)
(give registration number(s))
unless the default is promptly cured. Unless the foreclosing creditor receives a written notice from you to the
contrary by
(insert a date not less than 15 days after this notice is served personally or, if mailed, not less than 18 days after this notice is
deposited in the mail)
your manufactured home, mobilehome, truck camper, or floating home will be deemed abandoned, which means
that the foreclosing creditor may sell your manufactured home, mobilehome, truck camper, or floating home sooner
than would otherwise be permitted by law. The written notice you must send to the foreclosing creditor shall be sent to
(address of foreclosing creditor)
and shall state both of the following:
1. Your intent not to abandon the manufactured home, mobilehome, truck camper, or floating home.
2. An address at which you may be served by certified mail with a summons in connection with any legal action
which the foreclosing creditor may appropriately initiate.
(name of foreclosing creditor)
(signature of foreclosing creditor)
(b) In the event of default under the provisions of any security agreement relating to a loan or a conditional sale contract
in which the collateral is a manufactured home, mobilehome, truck camper, or floating home subject to registration under this
part which is inventory of a dealer or a commercial coach, the secured party may repossess and dispose of the
collateral in accordance with the provisions of the security agreement or conditional sale contract and applicable law,
including the provisions of Division 9 (commencing with Section 9101) of the Commercial Code. Upon repossession of a
manufactured home, mobilehome, truck camper, or floating home subject to registration under this part which is inventory
of a dealer or a commercial coach subject to registration under this part, the secured creditor shall prepare and forward to
the department a notice of repossession on the form prescribed by the department.
(c) The proceeds of the sale of a manufactured home, mobilehome, commercial coach, truck camper, or floating
home shall be applied, in the following order, to:
(1) The reasonable and necessary expenses incurred for preparing for and conducting the sale and, if the
foreclosing creditor has obtained possession of the collateral prior to the disposition, the reasonable and necessary expenses
for the retaking and holding of the collateral and to the extent provided for in the agreement and not prohibited by law,
reasonable attorney’s fees and legal expenses incurred by the foreclosing creditor in retaking the property from any person
not a party to the credit contract.
(2) The satisfaction of the indebtedness secured by the security interest of the foreclosing creditor under which the
disposition is made.
(3) The satisfaction of indebtedness secured by any subordinate liens or encumbrances on the property in the
order of their priority as provided in Section 18105, if with respect to a junior creditor written notification of demand
therefor is received before distribution of the proceeds is completed, and to the satisfaction of any subordinate
attachment lien or execution lien pursuant to subdivision (b) of Section 701.040 of the Code of Civil Procedure if notice of
the levy of attachment or execution is received before distribution of the proceeds is completed. If requested by the
foreclosing creditor, the holder of a subordinate lien or encumbrance shall furnish reasonable proof of his or her interest,
and unless it does so, the foreclosing creditor need not comply with its demand.
(4) The satisfaction of indebtedness secured by all senior liens or encumbrances in the order of their priority as
provided in Section 18105, if with respect to a senior creditor written demand therefor is received by the foreclosing
creditor before distribution of the proceeds is completed. If requested by the foreclosing creditor, the holder of a senior
lien or encumbrance shall furnish reasonable proof of his or her interest, and unless he or she does so, the foreclosing
creditor need not comply with his or her demand.
(5) To the registered owner within 45 days after the sale is conducted if a surplus remains.
(d) Unless automatically provided to the registered owner within 45 days after the sale of a manufactured home,
mobilehome, truck camper, or floating home if a request for an accounting is made within one year of the sale, the foreclosing
creditor shall provide to the registered owner a written accounting containing the gross sales proceeds and its allocation
pursuant to subdivision (c). In the event any surplus is paid to the registered owner pursuant to paragraph (5) of subdivision
(c), the foreclosing creditor shall furnish such an accounting whether or not requested by the registered owner.
§ 18038.7. Prohibition against deficiency judgments
No deficiency judgment shall lie in any event, after the sale of any manufactured home, mobilehome, commercial
coach, truck camper, or floating home subject to registration pursuant to this part, for failure of the purchaser to complete
his or her sale contract given to the seller to secure payment of the balance of the purchase price of the manufactured home,
mobilehome, commercial coach, truck camper, or floating home. This section shall not apply in the event there is
34