(a) If the redemption price is not deposited pursuant to
Section 729.060 before the expiration of the redemption period, or if
no additional deposit is made pursuant to subdivision (g) of Section
729.070 before the expiration of the time provided, the levying
officer who conducted the sale shall promptly execute and deliver to
the purchaser a deed of sale that complies with the requirements of
Section 701.670, or the nonjudicial foreclosure trustee pursuant to
Section 729.035 shall deliver an executed trustee's deed and comply
with the requirements of Section 2924j of the Civil Code.
   (b) If the person seeking to redeem the property deposits the
redemption price pursuant to Section 729.060 or 729.070 during the
redemption period, the levying officer shall tender the deposit to
the purchaser. If the purchaser accepts the tender or if the
redemption price determined by court order is tendered, the levying
officer or trustee shall promptly execute and deliver a certificate
of redemption to the person seeking to redeem and shall immediately
record a duplicate of the certificate in the office of the recorder
of the county where the property is located.
   (c) Tender of the redemption price determined by court order or
agreed upon by the purchaser and the person seeking to redeem the
property is equivalent to payment. If the tender is refused, the
levying officer shall deposit the amount tendered with the county
treasurer of the county where the property is located, payable to the
order of the purchaser. If the amount deposited is not claimed by
the purchaser, or the legal representative of the purchaser, within
five years after the deposit is made, by making application to the
treasurer or other official designated by the county, it shall be
paid into the general fund of the county.
   (d) Except as provided in subdivision (e), upon redemption the
effect of the sale is terminated and the person who redeemed the
property is restored to the estate therein sold at the sale.
   (e) Liens extinguished by the sale, as provided in Section
701.630, do not reattach to the property after redemption, and the
property that was subject to the extinguished lien may not be applied
to the satisfaction of the claim or judgment under which the lien
was created.

Section: Previous 726.5 727 728 729.010 729.020 729.030 729.035 729.040 729.050 729.060 729.070 729.080 729.090 730 730.5 Next

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Last modified: July 31, 2008