California § 2951 - A conventional home mortgage loan originated on or after January 1, 2027, and sec
Full text of California Public Contract Code - PCC § 2951 — A conventional home mortgage loan originated on or after January 1, 2027, and sec, with citation guidance and answers to common questions.
§ 2951. A conventional home mortgage loan originated on or after January 1, 2027, and sec
(a) A conventional home mortgage loan originated on or after January 1, 2027, and secured by owner-occupied residential real property containing four or fewer dwelling units with multiple borrowers shall include provisions to allow for any of the existing borrowers to purchase the property interest of another borrower on the loan by assuming the sellerâs portion of the mortgage in connection with a decree of dissolution of marriage, a legal separation agreement, or an incidental property settlement if the assuming borrower qualifies for the underlying loan, as determined by the lender. (b) For purposes of this section: (1) âConventional home mortgage loanâ means a mortgage loan that is not insured or guaranteed by the federal government. (2) âOwner-occupiedâ means that the property is the principal residence of the borrowers and is security for a loan made for personal, family, or household purposes.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 2951
What does Public Contract Code - PCC § 2951 cover?
Section 2951 ("A conventional home mortgage loan originated on or after January 1, 2027, and sec") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 2951?
A common citation format is "Public Contract Code - PCC § 2951" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 2951 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.