Cal. Civ. Code § 8456

Current through the 2023 Legislative Session.
Section 8456 - Optional advance of funds used for construction costs
(a) This section applies to a construction loan secured by a mortgage or deed of trust that has priority over a lien under this chapter.
(b) An optional advance of funds by the construction lender that is used for construction costs has the same priority as a mandatory advance of funds by the construction lender, provided that the total of all advances does not exceed the amount of the original construction loan.

Ca. Civ. Code § 8456

Added by Stats 2010 ch 697 (SB 189),s 20, eff. 1/1/2011, op. 7/1/2012.