California Code of Civil Procedure

§ 871.25

CCP § 871.25 Effective Jan 1, 2025Title 10 · Part 2 · Ch. 12

Statute text

A remedy in compliance with this chapter shall not be contingent on the execution of any release other than the following Standardized SBA Release: Standardized SBA Release Release as it relates to settlements: The parties have previously agreed to settle the case as follows and hereby memorialize all terms of their settlement as follows: 1. Within 60 days from the date of receipt of the notice requesting restitution or replacement of the Subject Vehicle [Vehicle Year/Make/Model and VIN] (hereinafter “Subject Vehicle”), [Manufacturer] (hereinafter “Defendant”) will make the following payments: a. Defendant shall pay the remaining loan balance or lease balance and residual value on the Subject Vehicle directly to the lienholder [Lender Name] in the amount necessary to relieve Plaintiff of all obligations related to Plaintiff’s purchase or lease of the Subject Vehicle, excluding any late fees or penalties in the amount of [Loan Payoff Amount]. Said payment shall include interest through the date of payoff. This payment shall be expedited to the lienholder following completion of the return of the Subject Vehicle to the manufacturer or its agents. b. Defendant shall pay to [Plaintiff’s Full Name] (hereinafter “Plaintiff”) a total amount of [Restitution Amount] in a check payable to Plaintiff. This payment shall be provided to Plaintiff at the time of the return of the Subject Vehicle to the manufacturer or its agents. In the event Plaintiff makes an additional payment that is not included in the above amount, Defendant shall reimburse Plaintiff for any payments made according to proof, with the exception of any late fees, within 30 days from the date proof of payment is provided to Defendant. c. [If applicable] Defendant shall pay civil penalties in the amount of [Civil Penalties Amount] in a check payable to [Plaintiff, if not represented by counsel, or Name of Law Firm/Attorney, if Plaintiff is represented by counsel]. This payment shall be expedited following completion of the return of the Subject Vehicle to the manufacturer or its agents. d. Defendant shall pay to Plaintiff’s counsel, if Plaintiff was represented by counsel (select one option below):

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Legislative history

Added by Stats. 2024, Ch. 938, Sec. 1. (AB 1755) Effective January 1, 2025.