California Civil Code 2984.2 – (a) No conditional sale contract, and no agreement between a …
(a) No conditional sale contract, and no agreement between a seller and a buyer made in connection with a conditional sale contract, may provide for the inclusion of title to or a lien upon any property other than the following:
(1) The motor vehicle which is the subject matter of the sale, including any replacement of that motor vehicle, or accessories, accessions, or replacement of those accessories or accessions, or proceeds thereof.
Terms Used In California Civil Code 2984.2
- Amount financed: means the amount required to be disclosed pursuant to paragraph (8) of subdivision (a) of Section 2982. See California Civil Code 2981
- Buyer: means the person who buys or hires a motor vehicle under a conditional sale contract. See California Civil Code 2981
- Conditional sale contract: means :
California Civil Code 2981
- Contract: A legal written agreement that becomes binding when signed.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Motor vehicle: means a vehicle required to be registered under the Vehicle Code that is bought for use primarily for personal or family purposes, and does not mean any vehicle that is bought for use primarily for business or commercial purposes or a mobilehome, as defined in §. See California Civil Code 2981
- property: includes property real and personal. See California Civil Code 14
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Seller: means a person engaged in the business of selling or leasing motor vehicles under conditional sale contracts. See California Civil Code 2981
- Service contract: means "vehicle service contract" as defined in subdivision (c) of §. See California Civil Code 2981
(2) The proceeds of any insurance policies covering the motor vehicle which are required by the seller or the returned premiums of any such policies if the premiums for such policies are included in the amount financed.
(3) The proceeds of any credit insurance policies which the buyer purchases in connection with the motor vehicle conditional sale contract or the returned premiums of any such policies if the premiums for such policies are included in the amount financed.
(4) The proceeds and returned price of any service contract if the cost of such contract is included in the amount financed.
(b) Subdivision (a) shall not apply to any agreement which meets the requirements of subdivision (b) of Section 2982.5 and otherwise complies with this chapter, nor, with respect to a mobilehome sold prior to July 1, 1981, to any agreement whereby a security interest is taken in real property on which the mobilehome is installed on a foundation system pursuant to § 18551 of the Health and Safety Code.
(c) A provision in violation of this section shall be void.
(Amended by Stats. 1987, Ch. 1043, Sec. 1.)