California Codes, Code of Civil Procedure - CCP, Part 2 — Of Civil Actions, Title 9 — Enforcement of Judgments, Division 4 — Third-party Claims and Related Procedures, Chapter 5 — Creditor’s Demand for Third-Party Claim by Secured Party or Lienholder, Section 720.530
The demand for a third-party claim served on a secured party or lienholder shall contain all of the following:
(a) The name and address of the secured party or lienholder.
(b) The name and address of the creditor.
(c) A detailed description of the personal property levied upon and the date of levy.
(d) A statement that if the secured party or lienholder does not file a third-party claim pursuant to Chapter 3 (commencing with Section 720.210) within 30 days after service of the demand, the secured party or lienholder shall be deemed to have waived any priority the security interest or lien may have over the creditor’s lien on the property levied upon unless the property levied upon is released from the creditor’s lien.
(e) A statement that if any priority of the security interest or lien is waived, the secured party or lienholder may have a right to share in any excess proceeds of an execution sale of the property as provided in Section 701.810.
Notes
Requires demand on a secured party or lienholder to identify the parties and levied property, give the levy date, and warn that failure to file a third-party claim within 30 days waives priority over the creditor’s lien unless the property is released. It must also state that a party whose priority is waived may still share in excess execution-sale proceeds.
Use as reference
Lexinter.net | California Code, Code of Civil Procedure - CCP § 720.530 | https://laws.lexinter.net/codes/california/code-of-civil-procedure/part-2/title-9/division-4/chapter-5/section-720-530