Section 20639.5.

The Controller may require security for the postponement of property taxes pursuant to this chapter, of the following:

(a) A security interest in the mobilehome in the form and manner prescribed by the Controller.

(b) Any other additional security interest created and perfected with respect to the rights of third persons in the manner provided by law for such type of security interest which the Controller deems necessary to protect the interest of the state with regard to the repayment of postponed amounts by the claimant or a deceased claimant's estate.

On the form supplied by the Controller, the claimant shall obtain the written consent of any legal owner if other than the claimant and the written consent of any junior lienholder. The consent shall be in such form and contain such provisions as the Controller shall prescribe, and shall provide for written notice by the legal owner and or junior lienholder to the Controller of the occurrence of a default by the claimant under the terms of an existing security agreement.

(c) The consent of all co-owners, if any, to the pledging of the mobilehome as security for the repayment of postponed property taxes.

(Added by Stats. 1983, Ch. 1051, Sec. 21.)