12 CCR s 344

Cal. Admin. Code tit. 12, s 344

CALIFORNIA CODE OF REGULATIONS
TITLE 12. MILITARY AND VETERANS AFFAIRS
DIVISION 2. DEPARTMENT OF VETERANS' AFFAIRS
CHAPTER 2. VETERANS' FARM AND HOME PURCHASES
SUBCHAPTER 3. CONTRACT AND OTHER TERMS
This database is current through 12/22/06, Register 2006, No. 51.
s 344. Default and Foreclosure.

If a contract holder fails to comply with any of the terms of the Cal-Vet
loan contract, the Department may cancel the contract and thereby
terminate the interests of the contract holder and any and all junior
lienholders. Upon cancellation, all payments theretofore made by or on
behalf of the contract holder shall be deemed to be rental paid for
occupancy, and thereafter any occupants of the Cal-Vet loan property shall
be deemed to be tenants at will. As used herein, "junior lienholder" means
any entity or person who claims an interest through the purchaser and who
holds a security interest of record in Cal-Vet loan property under a
mortgage or deed of trust, or who holds any other kind of lien or charge
of record against the property, whether with or without the consent of the
Department.

Note: Authority cited: Section 700, Military and Veterans Code.
Reference: Sections 987.5 and 987.77, Military and Veterans Code.

HISTORY

1. New section filed 4-4-88; operative 5-4-88 (Register 88, No.17).

12 CCR s 344, 12 CA ADC s 344
1CAC

12 CA ADC s 344

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