California Codes, Civil Code - CIV, Division 3 — Obligations, Part 4 — Obligations Arising from Particular Transactions, Title 14 — Lien, Chapter 2 — Mortgage, Article 1 — Mortgages in General, Section 2920

(a) A mortgage is a contract by which specific property, including an estate for years in real property, is hypothecated for the performance of an act, without the necessity of a change of possession.

(b) For purposes of Sections 2924 to 2924h, inclusive, “mortgage” also means any security device or instrument, other than a deed of trust, that confers a power of sale affecting real property or an estate for years therein, to be exercised after breach of the obligation so secured, including a real property sales contract, as defined in Section 2985, which contains such a provision.

Notes

Defines a mortgage as a contract hypothecating specific property, including an estate for years, to secure performance without requiring a change of possession. For the specified foreclosure provisions, also defines mortgage to include a non-deed-of-trust security device conferring a post-breach power of sale over real property or an estate for years, including a qualifying real-property sales contract.

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