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California Code Of Civil Procedure Section 580a

Legal Research Home > California Lawyer > Code of Civil Procedure > California Code Of Civil Procedure Section 580a

Whenever a money judgment is sought for the balance due upon
an obligation for the payment of which a deed of trust or mortgage
with power of sale upon real property or any interest therein was
given as security, following the exercise of the power of sale in
such deed of trust or mortgage, the plaintiff shall set forth in his
or her complaint the entire amount of the indebtedness which was
secured by the deed of trust or mortgage at the time of sale, the
amount for which the real property or interest therein was sold and
the fair market value thereof at the date of sale and the date of
that sale.  Upon the application of either party made at least 10
days before the time of trial the court shall, and upon its own
motion the court at any time may, appoint one of the probate referees
provided for by law to appraise the property or the interest therein
sold as of the time of sale.  The referee shall file his or her
appraisal with the clerk and that appraisal shall be admissible in
evidence.  The referee shall take and subscribe an oath to be
attached to the appraisal that he or she has truly, honestly and
impartially appraised the property to the best of his or her
knowledge and ability.  Any referee so appointed may be called and
examined as a witness by any party or by the court itself.  The court
must fix the compensation of the referee in an amount as determined
by the court to be reasonable, but those fees shall not exceed
similar fees for similar services in the community where the services
are rendered, which may be taxed and allowed in like manner as other
costs.  Before rendering any judgment the court shall find the fair
market value of the real property, or interest therein sold, at the
time of sale.  The court may render judgment for not more than the
amount by which the entire amount of the indebtedness due at the time
of sale exceeded the fair market value of the real property or
interest therein sold at the time of sale with interest thereon from
the date of the sale; provided, however, that in no event shall the
amount of the judgment, exclusive of interest after the date of sale,
exceed the difference between the amount for which the property was
sold and the entire amount of the indebtedness secured by the deed of
trust or mortgage.  Any such action must be brought within three
months of the time of sale under the deed of trust or mortgage.  No
judgment shall be rendered in any such action until the real property
or interest therein has first been sold pursuant to the terms of the
deed of trust or mortgage, unless the real property or interest
therein has become valueless.

Last modified: January 12, 2009