California Law (Last Updated: March 4, 2014) |
Civil Code - CIV |
Division 3. OBLIGATIONS |
Part 4. OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS |
Title 14. LIEN |
Chapter 2. Mortgage |
ARTICLE 1. Mortgages in General |
Section 2920.
Latest version.
-
(a) A mortgage is a contract by which specific property, including an estate for years in real property, is hypothecated for the performance of an act, without the necessity of a change of possession.
(b) For purposes of Sections 2924 to 2924h, inclusive, "mortgage" also means any security device or instrument, other than a deed of trust, that confers a power of sale affecting real property or an estate for years therein, to be exercised after breach of the obligation so secured, including a real property sales contract, as defined in Section 2985, which contains such a provision.
(Amended by Stats. 1989, Ch. 698, Sec. 4.)