Application for Declaration of Beneficiary for California pursuant to Civil Code Section 2943

Submitting an application for declaration of beneficiary to a California lender under Civil Code section 2943 is the subject of this article. Section 2943 of the Civil Code provides in pertinent part that the request may be sent at any time before or within two months after the registration of a notice of default under a mortgage or deed of trust. The application MUST be submitted before any notice of sale has been posted. The application should be submitted as soon as possible after the owner is delinquent so that the owner can review the documents carefully. Waiting too long to mail in your application can be a costly mistake.

The request must be sent to the address that appears on the last billing statement. Sending the application by certified mail, return receipt requested along with another copy to the Trustee is a good idea, although it is not specifically required by law.

Any California homeowner who is currently delinquent or close to delinquent on the loan that secures their home should seriously consider requesting a beneficiary declaration request from their lender to request that all information and documents be provided to them. described in section 2943 of the Civil Code. . Lenders often keep poor records and the homeowner may find discrepancies or errors in the documents or information received from the lender. This can be of great help in discovering possible defenses, such as improperly credited payments, unauthorized charges, etc.

The law also requires the lender to provide certain specific information within 21 calendar days on the beneficiary’s account statement, including the amount of the outstanding balance and the interest rate. A true, correct and complete copy of the note with any modifications must also be provided.

A copy of the deed of trust or mortgage can also be requested at the same time as the declaration of beneficiary that allows review of that document.

A lender may be liable to the person requesting the declaration for all damages that may be suffered as a result of the refusal if it does not prepare and deliver the beneficiary’s declaration; are liable in the amount of $300.00 even if no actual damages are sustained.

To view the full text of California Civil Code section 2943, or any other California code section, visit: http://leginfo.legislature.ca.gov/faces/codes.xhtml

The author sincerely hopes that you have enjoyed this article and found it informative. If you enjoyed this article, please tell others about it.

To be honest,

Stan Burman