California 2011-2012 Regular Session Status: In Committee

AB 407 — Mortgages: recording certificates of discharge: penalties.

Last action — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Assembly
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2011-2012 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Existing law requires a mortgagee or the assignee of the mortgagee, within 30 days after any mortgage has been satisfied, to execute a certificate of discharge and to record or cause to be recorded that certificate in the office of the county recorded, as specified. Existing law requires the beneficiary or the assignee of the beneficiary, within 30 calendar days after the obligation secured by any deed of trust has been satisfied, to execute and deliver to the trustee the original note, deed of trust, request for a full reconveyance, and other documents as may be necessary to reconvey, or cause to be reconveyed, the deed of trust. Existing law requires the trustee to execute the full reconveyance and to record or cause it to be recorded in the office of the county recorder in which the deed of trust is recorded within 21 calendar days after receipt by the trustee of the original note, deed of trust, request for a full reconveyance, and imposes additional requirements on the trustee in connection with delivery of the reconveyance instrument, original note, and deed of trust. Existing law provides that a violation of these provisions shall make the violator liable to the person affected by the violation for all damages which that person may sustain by reason of the violation, and shall require that the violator forfeit to that person the sum of $500. This bill would increase the penalty that the violator is liable to forfeit to $1,000.

Bill Text

Action History

  1. From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  2. Died pursuant to Art. IV, Sec. 10(c) of the Constitution.

  3. Re-referred to Com. on B. & F.

  4. From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.

  5. Referred to Com. on B. & F.

  6. From printer. May be heard in committee March 17.

  7. Read first time. To print.

Sponsors

  • Davis · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Davis

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

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Frequently asked questions

What does AB 407 do?
Existing law requires a mortgagee or the assignee of the mortgagee, within 30 days after any mortgage has been satisfied, to execute a certificate of discharge and to record or cause to be recorded that certificate in the office of the county recorded, as specified. Existing law requires the beneficiary or the assignee of the beneficiary, within 30 calendar days after the obligation secured by any deed of trust has been satisfied, to execute and deliver to the trustee the original note, deed of trust, request for a full reconveyance, and other documents as may be necessary to reconvey, or cause to be reconveyed, the deed of trust. Existing law requires the trustee to execute the full reconveyance and to record or cause it to be recorded in the office of the county recorder in which the deed of trust is recorded within 21 calendar days after receipt by the trustee of the original note, deed of trust, request for a full reconveyance, and imposes additional requirements on the trustee in connection with delivery of the reconveyance instrument, original note, and deed of trust. Existing law provides that a violation of these provisions shall make the violator liable to the person affected by the violation for all damages which that person may sustain by reason of the violation, and shall require that the violator forfeit to that person the sum of $500. This bill would increase the penalty that the violator is liable to forfeit to $1,000.
Who sponsors AB 407?
AB 407 is sponsored by Davis.
What is the current status of AB 407?
This bill died with 2011-2012 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track AB 407?
Track AB 407 free on One Click Politics — get push/email alerts when it moves.

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