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Maverick
Maverick, Attorney
Category: Business Law
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Experience:  20 years of professional experience
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Maverick, The question again was do I have to disclose to

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Maverick,
The question again was do I have to disclose to the Maker of a Note, on a commercial, with a balloon payment, on a non residential property, or commercial property, a 90 day minimum or 150 day maximum. prior to the notes due date. I contacted the trustee at PLM Lenders Service Inc for clarification. They use CC 2924(I) in there notes body. It appears that I DO NOT HAVE SEND A NOTICE TO THE MAKERS UNDER CC2966 as this is an exempt property.
Allow me present the link to the full text of 2009 CA CC - Section 2956-2967""

http://law.justia.com/codes/california/2009/civ/2956-2967.html
Article 3. Disclosures On Purchase Money Liens On Residential Property.
Submitted: 5 years ago.
Category: Business Law
Expert:  Maverick replied 5 years ago.

Welcome to Just Answer! My name isXXXXX very much enjoy what I do and I hope that you will benefit from this information.

 

Since 2966(a) is limited to all transactions regulated "by this article" and since Article three is limited to PML's on residential property, then you are correct that the 90-150 day notice period would not apply to commercial property.

 

 

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