Cal. Health and Safety Code § 129135
Cal. Health and Safety Code § 129135
California · California Health and Safety Code · Status: effective · Effective 2021-07-27
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- Citation
- Cal. Health and Safety Code § 129135, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/876528
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Full text
Notwithstanding any requirement contained in this chapter relating to acquisition of title and possession of the project property by the lender and its subsequent conveyance and transfer to the department, and for the purpose of avoiding unnecessary conveyance expense in connection with payment of insurance benefits under the provisions of this chapter, the department may, subject to regulations that it may prescribe, permit the lender to tender to the department a satisfactory conveyance of title and transfer of possession direct from the borrower or other appropriate grantor and to pay to the lender the insurance benefits to which it would otherwise be entitled if the conveyance had been made to the lender and from the lender to the department.