§ 2289. Property Under Contract of Sale.
10 CA ADC § 2289Barclays Official California Code of Regulations
10 CCR § 2289
§ 2289. Property Under Contract of Sale.
Real property under contract of sale shall be valued at an amount not in excess of the lowest of the following:
Advances made on such contracts must not be listed elsewhere as assets unless deducted as “Assets Not Admitted.” Interest on such contracts which is in arrears shall not, unless also deducted under “Assets Not Admitted,” be listed elsewhere as an asset; provided, however, if the balance due, including interest, under any contract of sale is less than 66 2/3% of the value of the underlying real estate, then interest which is in arrears on any contract may be admitted as an asset but not in excess of one year's interest.
This database is current through 5/24/24 Register 2024, No. 21.
Cal. Admin. Code tit. 10, § 2289, 10 CA ADC § 2289
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