reglab/housing_qa huggingface dataset:
CA Civ Code § 1917.070 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 4 - Shared Appreciation Loans of E.R.I.S.A. Pension Funds|ARTICLE 7 - Notices and Disclosures|Section 1917.070.

1917.070.  (a) The disclosures made pursuant to this chapter, as required, shall be the only disclosures required to be made pursuant to state law for shared appreciation loans, notwithstanding any contrary provisions applicable to loans not made under this chapter, except those, if any, that may be required by reason of the application of Division 1 (commencing with Section 25000) of the Corporations Code, or Chapter 1 (commencing with Section 11000) of Part 2 of Division 4 of the Business and Professions Code. A lender may, but shall not be required to, supplement the disclosures required by this article with additional disclosures that are not inconsistent with the disclosures required by this article. (b) When very specific language is prescribed by this chapter, substantially the same language shall be utilized if possible, but reasonably equivalent language may be used to the extent necessary or appropriate to achieve a clearer or more accurate disclosure.(Repealed and added by Stats. 1982, Ch. 466, Sec. 11. Inoperative January 1, 1990, by Stats. 1982, Ch. 466, Sec. 11.5.)
CA Civ Code § 1917.073 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 4 - Shared Appreciation Loans of E.R.I.S.A. Pension Funds|ARTICLE 7 - Notices and Disclosures|Section 1917.073.

1917.073.  Each lender making a shared appreciation loan shall additionally furnish to the prospective borrower, prior to the consummation of the loan, a statement containing the following information:IMPORTANT INFORMATION ABOUT YOUR SHARED APPRECIATION LOANYou are being offered a shared appreciation loan. Before you decide to accept this loan read this statement, which is designed to provide important information that you should consider.1. Prevailing interest rate: __%.2. Fixed interest rate on this loan: __%.3. Lender’s share of net appreciated value: one-third.4. Amount of this loan: $__.5. Amount of the monthly payments: $__.6. Term of this loan: __ years.7. Amortization period on which payments are calculated: 30 years.8. Prepayment penalty (if any) __.(Repealed and added by Stats. 1982, Ch. 466, Sec. 11. Inoperative January 1, 1990, by Stats. 1982, Ch. 466, Sec. 11.5.)
CA Civ Code § 1917.074 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 4 - Shared Appreciation Loans of E.R.I.S.A. Pension Funds|ARTICLE 7 - Notices and Disclosures|Section 1917.074.

1917.074.  Each deed of trust and evidence of debt executed in connection with a shared appreciation loan shall contain a statement, printed or written in a size equal to at least 12-point bold type, consisting of substantially the following language: “THIS IS A [DURATION] SHARED APPRECIATION LOAN. THE LENDER'S INTEREST INCLUDES ONE-THIRD OF THE NET APPRECIATED VALUE OF THE PROPERTY. FOR FURTHER INFORMATION, READ THE FLYER "INFORMATION ABOUT THE [NAME OF LENDER] SHARED APPRECIATION LOAN.' " The notice required by this section shall be completed to state the term of the shared appreciation loan.(Repealed and added by Stats. 1982, Ch. 466, Sec. 11. Inoperative January 1, 1990, by Stats. 1982, Ch. 466, Sec. 11.5.)
CA Civ Code § 1917.075 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 4 - Shared Appreciation Loans of E.R.I.S.A. Pension Funds|ARTICLE 7 - Notices and Disclosures|Section 1917.075.

1917.075.  Where, pursuant to any provision of law, the lender is required to disclose the amount of interest due or to be due under a shared appreciation loan and the amount of contingent deferred interest due or to be due is not known, the lender may disclose that fact and specify in the disclosure the method for calculating contingent deferred interest.(Repealed and added by Stats. 1982, Ch. 466, Sec. 11. Inoperative January 1, 1990, by Stats. 1982, Ch. 466, Sec. 11.5.)
CA Civ Code § 1917.110 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 1 - Legislative Findings and Declarations|Section 1917.110.

1917.110.  The Legislature hereby finds and declares that:(a) It is necessary and essential that the state provide and promote alternative means of supplying affordable housing to the citizens of the state.(b) Because of current economic conditions, including the unprecedented fluctuation in interest rates, alternative mortgage instruments must be developed to supplement the standard long-term, fixed-rate mortgage.(c) State facilitation of the shared appreciation loan will serve the need to develop alternative means of financing housing, particularly new homes, and will help to create vitally needed jobs in the construction industry.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.130 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 3 - Terms and Conditions|Section 1917.130.

1917.130.  Lenders may make shared appreciation loans pursuant to this chapter for the purchase of real property improved with one- to four-dwelling units, including structures ancillary to such dwelling units and including attached single-family dwelling units, single-family mobilehome units placed upon permanent foundations, residential condominium units, and dwelling units within a planned unit development. Shared appreciation loans shall be made to finance only owner-occupied dwelling units, but in the case of two- to four-unit dwellings financed under this chapter only one of the units need be owner-occupied. A dwelling unit shall be conclusively deemed to be owner-occupied for purposes of this chapter if an original recipient of the shared appreciation loan certifies in writing to the lender at the time the loan is made that he or she will occupy the property.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.132 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 3 - Terms and Conditions|Section 1917.132.

1917.132.  (a) The borrower shall have the right to prepay, at any time, in full or in part, the principal loan balance of the shared appreciation loan, together with accrued interest, including contingent deferred interest.(b) Nothing in this chapter shall prevent a borrower from obligating himself or herself, by an agreement in writing, to pay a prepayment charge upon prepayment of the loan, in full or in part, made within five years of the date of execution of the shared appreciation loan.(c) Any prepayment charge imposed upon the prepayment of a shared appreciation loan shall not exceed the amount authorized and specified in subdivision (b) of Section 2954.9.(d) No prepayment charge shall be imposed as to any portion of the contingent deferred interest.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.134 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 3 - Terms and Conditions|Section 1917.134.

1917.134.  Except as provided in this article, the terms and conditions of the refinancing loan shall be subject to all laws applicable to loans in effect on the date of refinancing.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.135 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 3 - Terms and Conditions|Section 1917.135.

1917.135.  Nothing in this chapter shall preclude the borrower from obtaining any other financing, in lieu of the refinancing provided for in Section 1917.133, including refinancing on other terms mutually agreeable to the borrower and lender.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.140 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 4 - Determination of Fair Market Value|Section 1917.140.

1917.140.  The borrower may, at any time for the purpose of facilitating a sale of the property, request the lender to stipulate the minimum amount which the lender considers to be the fair market value of the property for the purposes of this chapter. The lender shall advise the borrower within 10 working days of the receipt of such request of the lender’s estimate of the minimum fair market value. The estimate shall remain effective for purposes of this section for 90 days. For the purposes of this section and Section 1917.141, a sale of the property shall be deemed to have occurred within the 90-day period if there is a valid contract entered by an offer and acceptance within the 90-day period for the sale of the property. The lender’s stipulation shall remain effective for an additional 60 days following execution of the sale contract to permit completion of the sale and close of escrow.The lender shall not be liable to the borrower or any other party on account of damages alleged as a result of providing the stipulation or estimate required by this section if such stipulation or estimate is made in good faith. Evidence of lack of good faith shall include, but not be limited to, a showing that the lender has willfully or repeatedly overrepresented the fair market value of other properties in similar situations, applying equitable principles to those determinations. The lender shall be conclusively presumed to have acted in good faith and no action may be brought or maintained against a lender which arises out of the provision by the lender of such stipulation or estimate, if the lender relied upon an appraisal of an independent appraiser approved by the Federal National Mortgage Association.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.141 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 4 - Determination of Fair Market Value|Section 1917.141.

1917.141.  (a) In the case of a sale for cash within 90 days after the lender stipulates, under the provisions of Section 1917.140, a minimum amount which the lender considers to be the fair market value of the property, the fair market value shall be the gross sale price, unless the gross sales price is below the minimum amount stipulated by the lender and the lender contests in writing the reasonableness of the gross sale price in relation to the fair market value within 10 working days of the lender’s receipt of notice of the gross sale price from borrower, in which case fair market value shall be the greater of gross sale price or the amount determined under Section 1917.142.(b) In the case of a sale for cash where the borrower has not requested the lender under the provisions of Section 1917.140 to stipulate to the minimum amount which the lender considers to be the fair market value of the property or where the stipulated minimum amount was provided by the lender more than 90 days prior to the date of sale, fair market value shall be the gross sale price, unless lender contests in writing the reasonableness of the gross sale price in relation to the fair market value within 10 working days of the lender’s receipt of notice of the gross sale price from borrower, in which case fair market value shall be the greater of gross sale price or the amount determined under Section 1917.142.(c) In the case of a sale which includes consideration to the seller other than cash, fair market value shall be as determined under Section 1917.142.(d) In the case the shared appreciation loan is prepaid in full, or upon acceleration of the shared appreciation loan upon default, or upon maturity of the shared appreciation loan, fair market value shall be as determined under Section 1917.142.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.142 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 4 - Determination of Fair Market Value|Section 1917.142.

1917.142.  When Section 1917.141 requires the application of this section, the fair market value shall be determined as the average of two appraisals of the property performed as described in this section. If possible, the appraisals shall be based on the sale prices of comparable properties in the market area sold within the preceding three-month period. The appraisals shall be made upon request of the lender by two independent residential appraisers, one to be selected by the lender and one by the borrower. Each appraiser shall be approved by the Federal National Mortgage Association. The cost of the appraiser selected by the lender shall be borne by the lender, and the cost of the appraiser selected by the borrower shall be borne by the borrower, unless the average of the two appraisals equals or is less than the gross sale price of the property, in which case the lender shall also pay the fee of the borrower’s appraiser up to two hundred dollars ($200). If either of the appraisers determines that the gross sale price does not reasonably reflect the fair market value of the property, or, in the case of a sale for which appraisal is required by this section, then the fair market value of the property shall be determined as the average of the two appraisals. If the borrower fails to select a qualified appraiser within 15 days after the lender has notified the borrower in writing of the lender’s request for an appraisal of the property, the reasons therefor, and the borrower’s option to select an independent appraiser within 15 days after the lender’s request is submitted to the borrower, the lender may designate the second appraiser, provided the lender’s request informs the borrower of this time limitation, and that the lender will select an appraiser on behalf of the borrower in the event the borrower fails to designate an appraiser, with consequent cost to the borrower. If pursuant to this section the lender designates the second appraiser, the cost of both appraisals shall be borne equally by the borrower and lender. If in any case the property has been damaged (other than normal wear and tear) and the damage has not been fully repaired, the determination of fair market value shall be based on the condition of the property not including the damage.Nothing in this section shall preclude the borrower and lender from establishing the fair market value of the property by mutual agreement in lieu of appraisals pursuant to this section.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.150 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 5 - Improvements|Section 1917.150.

1917.150.  The borrower may have the value of capital improvements added to the borrower’s cost of the property, for purposes of determining net appreciated value and the amount of contingent deferred interest, but only if the procedures set forth in this article are followed.(a) Within 60 days following the completion of capital improvements during any 12-month period with a cost in excess of two thousand five hundred dollars ($2,500), the borrower shall send by first-class mail a notice of the completion of the improvements to the lender and shall submit proof of cost and an estimate of the increase in value of the property by reason of the improvements.(b) If, within 30 days of receipt of the notice, the lender questions the claimed increase in value of the property by reason of the improvements, the lender and the borrower may, by mutual agreement, establish the value of the capital improvements or the lender may require appraisal of the property. An appraisal shall be made to determine the increase in value of the property, if any, by reason of the improvements, by two appraisers selected in the same manner specified in Section 1917.142. If appraisals are performed, the increase in value resulting from the improvements for the purposes of this section, shall be one-half of the sum of the two appraisals. The cost of the appraiser selected by the borrower shall be borne by the borrower, and the cost of the appraiser selected by the lender shall be borne by the lender.(c) A credit for the value of capital improvements shall be provided if the increase in value of the property resulting therefrom is determined pursuant to subdivision (b) to exceed two thousand five hundred dollars ($2,500).(d) If 50 percent or more of the value of the labor or other work on the improvements was performed by the borrower, then the actual cost of the improvements need not exceed two thousand five hundred dollars ($2,500) for purposes of making application under subdivision (a).(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.151 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 5 - Improvements|Section 1917.151.

1917.151.  Nothing in this article shall preclude a shared appreciation loan from providing the borrower with a greater credit for improvements than specified in this article, provided the relevant disclosures required by Article 7 (commencing with Section 1917.170) are appropriately modified to accurately disclose the terms of the credit.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.160 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 6 - General Provisions|Section 1917.160.

1917.160.  The relationship of the borrower and the lender, as to a shared appreciation loan, is that of debtor and creditor and shall not be, or be construed to be, a joint venture, equity venture, partnership, or other relationship.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.161 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 6 - General Provisions|Section 1917.161.

1917.161.  Any waiver of any right of a borrower under the provisions of this chapter shall be void and unenforceable.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.162 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 6 - General Provisions|Section 1917.162.

1917.162.  (a) Notwithstanding Section 711, a provision in a shared appreciation loan made pursuant to this chapter permitting the lender to accelerate the maturity date of the principal and accrued interest on the loan upon sale of the property shall be valid and enforceable against the borrower, except as may be precluded by Section 2924.6.(b) The Legislature finds and declares that potential exposure to liability for enforcement of a “due-on-sale” clause consistent with Section 711, as interpreted by the courts, makes use of such a provision impractical. Moreover, the additional risks to the lender inherent in shared appreciation financing are greater with longer loan terms (which are more desirable from the standpoint of housing affordability), but this risk is reduced with an enforceable “due-on-sale” clause. Therefore, in order to facilitate shared appreciation financing, it is necessary to establish the exception specified in subdivision (a).(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.163 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 6 - General Provisions|Section 1917.163.

1917.163.  This chapter facilitates the making of shared appreciation financing in this state which conforms to the provisions of this chapter. The terms and conditions of any shared appreciation loan made pursuant to this chapter shall be consistent with this chapter. This chapter does not, however, apply to or limit shared appreciation financing of real property of a type specified in Section 1917.130 that is made pursuant to other provisions of law, or which is not otherwise unlawful. Nothing in this chapter shall be construed to in any way affect shared appreciation financing of commercial property or residential property not meeting the criteria specified in Section 1917.130.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.164 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 6 - General Provisions|Section 1917.164.

1917.164.  A shared appreciation loan shall not be subject to any provision of this code or the Financial Code which limits the interest rate or change of interest rate of variable interest rate or renegotiable interest instruments, or which requires particular language or provisions in security instruments securing variable or renegotiable rate obligations or in evidences of those debts.This section is declaratory of existing law.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
CA Civ Code § 1917.165 (2021)
2021 California Code|Civil Code - CIV|DIVISION 3 - OBLIGATIONS|PART 4 - OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS|TITLE 4 - LOAN|CHAPTER 5 - Shared Appreciation Loans|ARTICLE 6 - General Provisions|Section 1917.165.

1917.165.  The lien of a deed of trust securing a shared appreciation loan shall include and secure the principal amount of the shared appreciation loan, and all interest, whether accrued or to be accrued, including all amounts of contingent deferred interest.(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)