Tuesday, November 6, 2007
anti deficiency case law
FindLaw for Legal Professionals - Case Law, Federal and State Resources, Forms, and Code: "Cal. Civ. Proc. Code S 580b. California's anti-deficiency statutes are intended 'to limit strictly the right to recover deficiency judg- ments, that is, to recover on the debt more than the value of the security.' Brown, 259 P.2d at 426. The bankruptcy court reasoned that S 580b applies only when there is a deficiency, defined as ' `that part of a debt secured by mortgage not real- ized from sale of mortgaged property,' ' and thus concluded that S 580b did not apply to prohibit East Bay's unsecured"