(a) If the decree of foreclosure of a mortgage or deed of
trust on real property pursuant to Section 726 determines that a
deficiency judgment may be ordered against the defendant, the real
property (other than a leasehold estate with an unexpired term of
less than two years at the time of levy) shall be sold subject to the
right of redemption.
   (b) If the property is to be sold subject to the right of
redemption, the sale is governed by Section 716.020, except that:
   (1) The notice of sale of the property shall state that the
property will be sold subject to the right of redemption and shall
state the amount of the secured indebtedness with interest and costs.

   (2) Notice of sale may be given upon entry of the judgment for
sale of the property and the provision of Section 701.545 delaying
notice of sale does not apply.
   (3) Notice of sale may be given to persons having liens on the
property upon entry of the judgment for sale of the property and the
provision of subdivision (h) of Section 701.540 delaying such notice
does not apply.

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Last modified: July 31, 2008