California Financial Code

§ 5114

FIN § 5114Div. 2 · Ch. 1 · Art. 2

Statute text

“Primarily residential property” means real estate on which there is located, or will be located pursuant to a real estate loan, any of the following:

(a)A structure or structures designed or used primarily for residential rather than nonresidential purposes and consisting of more than one dwelling unit.

(b)A structure or structures designed or used primarily for residential rather than nonresidential purposes for students, residents, and persons under the care of, or the employees or members of the staff of, an educational, health, or welfare institution or facility.

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Legislative history

Added by Stats. 1983, Ch. 1091, Sec. 2.