Cal. Code Regs. tit. 25 § 5591

Current through Register 2024 Notice Reg. No. 36, September 6, 2024

Section 5591 - How to Report a Used Unit Acquired Through Foreclosure or Repossession

(a) Within 20 calendar days after foreclosure or repossession of a used unit by a legal owner or junior lienholder, the foreclosing or repossessing party shall submit an application for registration to the department which shall include:

(1) A statement signed under penalty of perjury by the foreclosing or repossessing creditor which shall include:

(A) the unit identifying information;

(B) the name and address of the foreclosing or repossessing creditor;

(C) the date of the security agreement;

(D) the name and address of the defaulting party;

(E) the name and address of the public or private sale buyer;

(F) the date of sale to the public or private sale buyer; and one of the following:

(G) if the unit is a commercial coach, that the unit was repossessed and the collateral disposed of in accordance with the provisions of the security agreement or conditional sale contract, applicable law, and Division 9 (commencing with section 9101) of the Commercial Code; or

(H) if the unit is not a commercial coach:

1. that the fair market value of the unit was $1,000 or more at the time the security interest was created; and

2. that the Notices of Default, Belief of Abandonment, Sale, and/or Distribution of Proceeds, were executed in the manner prescribed by Section 18037.5 of the Health and Safety Code; or

(I) if the unit is a manufactured home, mobilehome, multi-unit manufactured housing and the loan for the unit is part of a real property loan:

1. that the loan for the named defaulting party and the described unit includes the real property on which the unit is installed; and

2. the Notices of Default, Sale, and Distribution of Proceeds were executed in conformance with Section 18039.1 of the Health and Safety Code; or

(J) if the unit was located out of state and the foreclosure or repossession took place out of state:

1. the state in which the foreclosure or repossession took place; and

2. that the applicable laws pertaining to foreclosure or repossession in that jurisdiction were followed.

(2) The titling document, endorsed as specified in Sections 5580, 5581, and 5533, with the releasing signature of the legal owner.

(3) A copy of the security agreement, as defined in subdivision (l) of Section 9105 of the Commercial Code, if the foreclosing or repossessing lienholder is not recorded on the permanent title of the unit.

(4) If the foreclosing or repossessing creditor is a junior lienholder, that party's Junior Lienholder's Registration Card and that of any superior junior lienholder, endorsed as specified in Sections 5584 and 5585, with the releasing signature of the junior lienholder(s).

(5) Tax clearance certificate or conditional tax clearance certificate as required by section 5547.1.

(6) Payment of:

(A) the Transfer Fee specified in subsection 5660(b);

(B) the Transfer Penalty Fee, if required, specified in subsection 5660(c);

(C) the Foreclosure/Repossession Fee specified in subsection 5660(d);

(D) the Foreclosure/Repossession Penalty, if required, specified in subsection 5660(e);

(E) the Lien Registration Service Fee specified in subsection 5660(m) for each lienholder added, deleted, or changed;

(F) use tax, if a party other than the foreclosing or repossessing creditor is reported as the new registered owner, as specified in section 5667; and

(G) the Manufactured Home Recovery Fund Fee as specified in subsection 5660(s);

(F) all fees and penalties due and payable pursuant to Sections 18114, 18114.1, 18115, and 18116 of the Health and Safety Code.

Cal. Code Regs. Tit. 25, § 5591

1. New section filed 12-31-97; operative 1-1-98 pursuant to Government Code section 11343.4(d) (Register 98, No. 1).
2. Amendment filed 4-1-98; operative 4-1-98 pursuant to Government Code section 11343.4(d) (Register 98, No. 14).

Note: Authority cited: Sections 18015 and 18075, Health and Safety Code. Reference: Section 18037.5, 18039.1, 18070.1(c), 18100.5(d), 18114, 18114.1, 18115 and 18116, Health and Safety Code.