New Amendment to Civil Code Requires Lenders to Record Their Trustee’s Deed Within 30 Days Of The Foreclosure Sale– Or Else…Nothing! New Legislation That Really Does Not Resolve The Problem

We have been receiving a number of inquiries regarding Assembly Bill 2273 that was signed into law by the Governor, effective as of January 1, 2013, that amends Civil Code Section 2924b. This new law requires: (1) recordation of a trustee’s deed upon sale within 30 days of the sale; and (2) a copy of a recorded trustee’s deed upon sale to be provided to an association within 15 days of the trustee’s sale, provided that the association has recorded the statutorily required request for notice on the subject property pursuant to Section 2924b(f) prior to the recordation of the trustee’s notice of default. (Currently, the copy of the recorded trustee’s deed must be provided to associations within 15 days of the date the trustee’s deed upon sale is recorded.)

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