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§ 5585. How to Report the Release of a Junior Lienholder's Interest.

25 CA ADC § 5585Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 25. Housing and Community Development
Division 1. Housing and Community Development
Chapter 5. Registration and Titling of Manufactured Homes, Mobilehomes, Multifamily Manufactured Home, Commercial Modular, Truck Campers, and Floating Homes
Article 8. Perfection and Release of Security Interests
25 CCR § 5585
§ 5585. How to Report the Release of a Junior Lienholder's Interest.
Currentness
(a) Within 20 days of satisfaction of a junior lien, the junior lienholder shall submit an application for registration to the department to report the release of that junior lienholder's security interest, which shall include:
(1) The Junior Lienholder Registration Card issued by the department, signed by the junior lienholder on the designated line(s) or in the designated area to release the junior lienholder's interest; or
(2) a statement signed under penalty of perjury by the junior lienholder, which contains the following information:
(A) the unit(s) identifying information;
(B) the registered owner identifying information;
(C) the junior lienholder identifying information;
(D) why the Junior Lienholder Registration Card could not be submitted;
(E) the date of release of the junior lienholder's interest;
(F) that the junior lienholder no longer holds a lien in the name of the registered owner;
(G) that the lien against the described unit has been fully satisfied; and
(H) that the lien has not been assigned to any other party.
(3) Payment of the Lien Registration Service fee as specified in subsection 5660(m).

Credits

Note: Authority cited: Sections 18015 and 18075, Health and Safety Code. Reference: Sections 18035(d) and 18100.5(a), Health and Safety Code.
History
1. New section filed 12-31-97; operative 1-1-98 pursuant to Government Code section 11343.4(d) (Register 98, No. 1).
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 25, § 5585, 25 CA ADC § 5585
End of Document