no recoded asignment no power of sale (foreclosure)2932.5

Mortgages with a power of sale as a form of security, although such powers of sale are strictly construed (Savings & Loan Soc. v. Burnett, 106 Cal. 514 [39 P. 922]), are not looked upon with disfavor in California. (Godfrey v. Monroe, 101 Cal. 224 [35 P. 761].) Indeed, such powers of sale are expressly permitted by section 2932 of the Civil Code, and since July 27, 1917, the exercise of such powers has been carefully regulated. (Civ. Code, sec. 2924.) In this connection we should also bear in mind section 858 of the Civil Code, which reads as follows: “Where a power to sell real property is given to a mortgagee, or other encumbrancer, in an instrument intended to secure the payment of money, the power is to be deemed a part of the security, and vests in any person who, by assignment, becomes entitled to the money so secured to be paid, and may be executed by him whenever the assignment is duly acknowledged and recorded.” This indicates to some extent that California intended that such a power of sale survives until the debt is paid or barred by the statute of limitations. [13 Cal.App.2d 239]

Unknown's avatar

Author: timothymccandless

The Impact—and Your Opportunity As Our Client left the hearing room, he knew this victory was bigger than just The Crossings. Other property owners facing similar issues could now challenge their assessments with greater confidence. The case set a precedent, demonstrating that robust, market-informed evidence could lead to fair property valuations. It had been a battle, but he had proved that the system could be challenged—and that fairness in taxation was worth fighting for. Could You Be Overpaying on Property Taxes? If you own Large apartment complexes or commercial property, you may be paying far more in property taxes than you should. Just like Our Client, you have the right to challenge an unfair assessment and secure the tax savings you deserve. At Lower Property Tax CA, we specialize in helping property owners like you reduce their tax burden. Our expert consultants and appraisal team will analyze your property’s financials, market conditions, and county assessment methodologies to build a strong case for a reduction.We recognize that every client's tax situation is unique. That's why we take the time to understand your specific needs and tailor our services accordingly. You can count on us to provide personalized attention to your tax matters.

Leave a comment