In addition to the original English notice, default and sale notices recorded in California foreclosures will soon need to be summarized in five other languages as a result of a new law in the Golden State.
Assembly Bill No. 1599 was signed Tuesday by California Gov. Edmund G. Brown Jr.
The legislation was submitted by assembly member Mike Feuer, a Democrat from Los Angeles.
The new law impacts the foreclosure process on residential properties up to four units.
Under existing California law, a notice of default needs to be filed with the county recorder once a borrower defaults on a mortgage or the interest in the property is transferred. In addition, a notice of sale must be recorded prior to exercising a power of sale.
In some circumstances, a summary of mortgage terms be provided to the borrower in one of five specified languages.
But as of April 1, 2013, or 90 days following the issuance of summary translations by the Department of Corporations, the new law requires that notices of default and notices of sale will need to be accompanied by a summary of the required information in five other specified languages.
Both notices will need to include a statement, in English and in the five specified languages, that a summary of the key provisions of the respective notice is attached in English and the specified languages.
The summary attachments will not be recorded or published.
In addition, the legislation requires the Department of Corporations to provide a standard translation of the statement and summaries free online in the required languages.
