California CodesBusiness and Professions Code - BPCDivision 4 — Real EstatePart 1 — Licensing of PersonsChapter 3 — Real Estate RegulationsArticle 7 — Real Property LoansSection 10240.2
As used in this article, “ dwelling” means any of the following units which are owned by a signatory to the mortgage or deed of trust secured by the dwelling unit at the time of execution of the mortgage or deed of trust:
(a) A single dwelling unit in a condominium or cooperative.
(b) Any parcel containing only residential buildings if the total number of units on the parcel is four or less.
Notes
Defines a “dwelling,” for purposes of the article, as a qualifying unit owned by a signatory to the mortgage or deed of trust when that security instrument is executed. Includes a single condominium or cooperative dwelling unit and a parcel containing only residential buildings with no more than four total units.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 10240.2 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-4/part-1/chapter-3/article-7/section-10240-2