Relating to occupancy of residential premises subject to foreclosure; declaring an emergency.
Catchline/Summary:
Requires beneficiary under trust deed to offer grantor under trust deed opportunity to remain in possession of residential unit during period in which trustee's sale for residential unit is pending if sale does not occur on date scheduled for trustee's sale or if trustee postpones trustee's sale. Requires beneficiary under trust deed to offer grantor under trust deed opportunity to remain in possession of residential unit during period in which trustee's sale for residential unit is pending if sale does not occur on date scheduled for trustee's sale or if trustee postpones trustee's sale. Requires grantor to pay rent to beneficiary at market rate for residential unit and agree to vacate residential unit not later than 10 days after receiving notice that residential unit has sold.
Provides that agreement to permit grantor to remain in possession does not create tenancy or require beneficiary to assume duties of landlord. Provides that grantor must maintain residential unit in habitable condition and pay for utilities and services supplied to residential unit.
Declares emergency, effective on passage.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
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