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 2932.5
Where a power to sell real property is given to a mortgagee, or other encumbrancer, in an instrument intended to secure the payment of money, the power is part of the security and vests in any person who by assignment becomes entitled to payment of the money secured by the instrument. The power of sale may be exercised by the assignee if the assignment is duly acknowledged and recorded.
Notes
Allows an assignee entitled to payment of money secured by an instrument granting a power to sell real property to receive that power as part of the security. The assignee may exercise the power of sale when the assignment is duly acknowledged and recorded.
Use as reference
Lexinter.net | California Code, Civil Code - CIV § 2932.5 | https://laws.lexinter.net/codes/california/civil-code/division-3/part-4/title-14/chapter-2/article-1/section-2932-5