California § 50862 - A city, county, or city and county that receives a grant from the BEGIN Fund shal
Full text of California Public Contract Code - PCC § 50862 — A city, county, or city and county that receives a grant from the BEGIN Fund shal, with citation guidance and answers to common questions.
§ 50862. A city, county, or city and county that receives a grant from the BEGIN Fund shal
A city, county, or city and county that receives a grant from the BEGIN Fund shall use the proceeds from the grant for downpayment assistance to a prospective first-time home buyer who enters into an agreement to purchase a newly constructed home, or a newly erected manufactured home placed on a permanent foundation, with the sponsor or developer of the identified newly constructed project within this city, county, or city and county provided the first-time home buyer qualifies as a person or family of low- or moderate-income, as defined in Section 50093. Any residence assisted with downpayment financing provided by the BEGIN Fund shall be continuously occupied by the home buyer as his or her principal residence for at least five years following recordation of the deed of trust. If the home buyer fails to meet this condition, the loan amount shall become immediately due and payable to the grantee city, county, or city and county.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 50862
What does Public Contract Code - PCC § 50862 cover?
Section 50862 ("A city, county, or city and county that receives a grant from the BEGIN Fund shal") 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 § 50862?
A common citation format is "Public Contract Code - PCC § 50862" (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 § 50862 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.