What is the effect of section 580b of the California Real Estate Code on real property transactions?
California, United States of America
The following excerpt is from First Interstate Bank of California v. Winncrest Homes, Inc., C035434., C036722. (Cal. App. 2003):
"Our Supreme Court has stated that section 580b applies automatically only to `standard' purchase money transactions (Spangler v. Memel [(1972)] 7 Cal.3d [603,] 611), i.e., where the vendor of real property retains an interest in the land sold to secure payment
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