AB 244 (Eggman)
Mortgages and deeds of trust: successors in interest.
Current law imposes various requirements to be satisfied prior to exercising a power of sale under a mortgage or deed of trust. This bill would include a successor in interest in the definition of a borrower for purposes of specified eligibility provisions. The bill would define a successor in interest for these purposes as a natural person who provides the mortgage servicer with notification of the death of the mortgagor or trustor and reasonable documentation, as specified, showing that the person falls into one of four categories of successors, including a personal representative of the mortgagor's or trustor's estate or a surviving spouse, as specified.
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