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California Code of Civil Procedure Section 580b

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580b.  (a) No deficiency judgment shall lie in any event for the
following:
   (1) After a sale of real property or an estate for years therein
for failure of the purchaser to complete his or her contract of sale.
   (2) Under a deed of trust or mortgage given to the vendor to
secure payment of the balance of the purchase price of that real
property or estate for years therein.
   (3) Under a deed of trust or mortgage on a dwelling for not more
than four families given to a lender to secure repayment of a loan
which was in fact used to pay all or part of the purchase price of
that dwelling, occupied entirely or in part by the purchaser.
   (b) For purposes of subdivision (c), a loan described in paragraph
(3) of subdivision (a) is a "purchase money loan."
   (c) No deficiency judgment shall lie in any event on any loan,
refinance, or other credit transaction (collectively, a "credit
transaction") which is used to refinance a purchase money loan, or
subsequent refinances of a purchase money loan, except to the extent
that in a credit transaction, the lender or creditor advances new
principal (hereafter "new advance") which is not applied to any
obligation owed or to be owed under the purchase money loan, or to
fees, costs, or related expenses of the credit transaction. Any new
credit transaction shall be deemed to be a purchase money loan except
as to the principal amount of any new advance. For purposes of this
section, any payment of principal shall be deemed to be applied first
to the principal balance of the purchase money loan, and then to the
principal balance of any new advance, and interest payments shall be
applied to any interest due and owing. The provisions of this
subdivision shall only apply to credit transactions that are executed
on or after January 1, 2013.
   (d) Where both a chattel mortgage and a deed of trust or mortgage
have been given to secure payment of the balance of the combined
purchase price of both real and personal property, no deficiency
judgment shall lie at any time under any one thereof if no deficiency
judgment would lie under the deed of trust or mortgage on the real
property or estate for years therein.

Last modified: February 22, 2013