Chapter 1. Judgment in General - California Code of Civil Procedure Section 580d

580d.  (a) Except as provided in subdivision (b), no deficiency
shall be owed or collected, and no deficiency judgment shall be
rendered for a deficiency on a note secured by a deed of trust or
mortgage on real property or an estate for years therein executed in
any case in which the real property or estate for years therein has
been sold by the mortgagee or trustee under power of sale contained
in the mortgage or deed of trust.
   (b) The fact that no deficiency shall be owed or collected under
the circumstances set forth in subdivision (a) does not affect the
liability that a guarantor, pledgor, or other surety might otherwise
have with respect to the deficiency, or that might otherwise be
satisfied in whole or in part from other collateral pledged to secure
the obligation that is the subject of the deficiency.
   (c) This section does not apply to a deed of trust, mortgage, or
other lien given to secure the payment of bonds or other evidences of
indebtedness authorized or permitted to be issued by the
Commissioner of Business Oversight or which is made by a public
utility subject to the Public Utilities Act (Part 1 (commencing with
Section 201) of Division 1 of the Public Utilities Code).

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Last modified: February 16, 2015