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Bills

SB 1320: Financing statements: residential real property.

  • Session Year: 2025-2026
  • House: Senate
  • Latest Version Date: 2026-03-24

Current Status:

In Progress

(2026-04-10: Set for hearing April 28.)

Introduced

In Committee

First Chamber

In Committee

Second Chamber

Enacted

Version:

The Uniform Commercial Code-Secured Transactions (UCC) generally regulates the perfection of certain security interests, including a financing statement filed as a fixture filing.

This bill would prohibit the filing of a financing statement against owner-occupied residential real property in a manner that purports to create or otherwise perfect a security interest in, or otherwise encumber, title to that owner-occupied residential real property and would make a person who knowingly files, or causes to be filed, a financing statement in violation of the bill liable to the owner of the owner-occupied residential real property identified in the financing statement, as specified.

Existing law requires a collecting bank, as defined, to exercise ordinary care when performing specific duties in a commercial banking transaction, and limits the liability of a collecting bank for the insolvency, neglect, misconduct, mistake, or default of another bank or person or for loss or destruction of an item in the possession of others or in transit, as specified.This bill would make a nonsubstantive change to this provision.

News Coverage:

SB 1320: Financing statements: residential real property. | Digital Democracy