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California Civil Code Section 2983.5

2983.5. (a) An assignee of the seller s right is subject to all equities and defenses of the buyer against the seller, notwithstanding an agreement to the contrary, but the assignee s liability may not exceed the amount of the debt owing to the assignee at the time of the assignment.

(b) The assignee shall have recourse against the seller to the extent of any liability incurred by the assignee pursuant to this section regardless of whether the assignment was with or without recourse.

(Amended by Stats. 1975, Ch. 66.)

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Last modified: September 9, 2016