Bill Full Text
Home
-
Bills
-
Bill
-
Authors
-
Dates
-
Locations
-
Analyses
-
Organizations
<?xml version="1.0" ?>
<ns0:MeasureDoc xmlns:html="http://www.w3.org/1999/xhtml" xmlns:ns0="http://lc.ca.gov/legalservices/schemas/caml.1#" xmlns:ns3="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" version="1.0" xsi:schemaLocation="http://lc.ca.gov/legalservices/schemas/caml.1# xca.1.xsd">
<ns0:Description>
<ns0:Id>20250AB__214599INT</ns0:Id>
<ns0:VersionNum>99</ns0:VersionNum>
<ns0:History>
<ns0:Action>
<ns0:ActionText>INTRODUCED</ns0:ActionText>
<ns0:ActionDate>2026-02-18</ns0:ActionDate>
</ns0:Action>
</ns0:History>
<ns0:LegislativeInfo>
<ns0:SessionYear>2025</ns0:SessionYear>
<ns0:SessionNum>0</ns0:SessionNum>
<ns0:MeasureType>AB</ns0:MeasureType>
<ns0:MeasureNum>2145</ns0:MeasureNum>
<ns0:MeasureState>INT</ns0:MeasureState>
</ns0:LegislativeInfo>
<ns0:AuthorText authorType="LEAD_AUTHOR">Introduced by Assembly Member Garcia</ns0:AuthorText>
<ns0:Authors>
<ns0:Legislator>
<ns0:Contribution>LEAD_AUTHOR</ns0:Contribution>
<ns0:House>ASSEMBLY</ns0:House>
<ns0:Name>Garcia</ns0:Name>
</ns0:Legislator>
</ns0:Authors>
<ns0:Title> An act to add Section 2924.4 to the Civil Code, relating to real property. </ns0:Title>
<ns0:RelatingClause>real property</ns0:RelatingClause>
<ns0:GeneralSubject>
<ns0:Subject>Mortgages: principal residence.</ns0:Subject>
</ns0:GeneralSubject>
<ns0:DigestText>
<html:p>Existing law generally regulates mortgages and mortgage servicers, including, among other things, prohibiting the acceleration of a loan secured by a mortgage upon specified transfers of residential real property.</html:p>
<html:p>This bill would authorize a borrower who has reached retirement age to transfer the interest rate and remaining loan term secured by a mortgage on residential real property to a mortgage secured by a new principal residence, as specified.</html:p>
</ns0:DigestText>
<ns0:DigestKey>
<ns0:VoteRequired>MAJORITY</ns0:VoteRequired>
<ns0:Appropriation>NO</ns0:Appropriation>
<ns0:FiscalCommittee>NO</ns0:FiscalCommittee>
<ns0:LocalProgram>NO</ns0:LocalProgram>
</ns0:DigestKey>
<ns0:MeasureIndicators>
<ns0:ImmediateEffect>NO</ns0:ImmediateEffect>
<ns0:ImmediateEffectFlags>
<ns0:Urgency>NO</ns0:Urgency>
<ns0:TaxLevy>NO</ns0:TaxLevy>
<ns0:Election>NO</ns0:Election>
<ns0:UsualCurrentExpenses>NO</ns0:UsualCurrentExpenses>
<ns0:BudgetBill>NO</ns0:BudgetBill>
<ns0:Prop25TrailerBill>NO</ns0:Prop25TrailerBill>
</ns0:ImmediateEffectFlags>
</ns0:MeasureIndicators>
</ns0:Description>
<ns0:Bill id="bill">
<ns0:Preamble>The people of the State of California do enact as follows:</ns0:Preamble>
<ns0:BillSection id="id_4E29EE4C-BEEF-4D3B-AD20-2147A6297317">
<ns0:Num>SECTION 1.</ns0:Num>
<ns0:ActionLine action="IS_ADDED" ns3:type="locator" ns3:href="urn:caml:codes:CIV:caml#xpointer(%2Fcaml%3ALawDoc%2Fcaml%3ACode%2F%2Fcaml%3ALawSection%5Bcaml%3ANum%3D'2924.4'%5D)" ns3:label="fractionType: LAW_SECTION">
Section 2924.4 is added to the
<ns0:DocName>Civil Code</ns0:DocName>
, to read:
</ns0:ActionLine>
<ns0:Fragment>
<ns0:LawSection id="id_2FD408FC-544D-4D20-9979-BD78415D837C">
<ns0:Num>2924.4.</ns0:Num>
<ns0:LawSectionVersion id="id_01F475E4-E7AD-46D5-85F4-101A1213037E">
<ns0:Content>
<html:p>
(a)
<html:span class="EnSpace"/>
Notwithstanding any other law, a borrower who has reached retirement age may transfer the interest rate and remaining loan term of a loan secured by a mortgage or deed of trust on residential real property that is the principal residence of the borrower to a loan secured by a mortgage or deed of trust on a residential real property that is the replacement principal residence of the borrower.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
This section applies to any loan secured by a mortgage or deed of trust that is open on January 1, 2027, and to any new loan opened on or after January 1, 2027.
</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
</ns0:Fragment>
</ns0:BillSection>
</ns0:Bill>
</ns0:MeasureDoc>