2009 California Code of Civil Procedure - Section 701.510-701.680 :: Article 6. Sale And Collection

701.510.  Subject to Sections 687.020 and 701.520, the levying
officer shall sell all property that has been levied upon except:
   (a) Tangible personal property may not be sold until the levying
officer obtains custody of the property.
   (b) Cash may not be sold unless it has a value exceeding its face
value.

701.520.  (a) Except as provided in this section, any of the
following property that has been levied upon shall be collected
rather than sold:
   (1) Accounts receivable.
   (2) Chattel paper.
   (3) General intangibles.
   (4) Final money judgments.
   (5) Instruments that are not customarily transferred in an
established market.
   (6) Instruments that represent an obligation arising out of the
sale or lease of property, a license to use property, the furnishing
of services, or the loan of money where the property sold or leased
or licensed for use, the services furnished, or the money loaned was
used by an individual primarily for personal, family, or household
purposes.
   (b) At the time of levy on property described in subdivision (a)
or thereafter, the judgment creditor may serve a notice of intended
sale of the property on the judgment debtor. Service shall be made
personally or by mail. A copy of the notice of intended sale and
proof of service on the judgment debtor shall be filed with the court
and with the levying officer. The notice of intended sale shall
describe the property and state that it will be sold at an execution
sale unless, within the time allowed after service of the notice of
intended sale, the judgment debtor applies to the court on noticed
motion for an order that the property be collected rather than sold.
   (c) Within 10 days after service of the notice of intended sale,
the judgment debtor may apply to the court on noticed motion for an
order that the property be collected rather than sold. A judgment
debtor who so applies shall, within the time allowed for the
application, serve a copy of the notice of motion on the judgment
creditor and file a copy of the notice of motion with the levying
officer. Service of the copy of the notice of motion on the judgment
creditor shall be made personally or by mail. If the copy of the
notice of motion is not filed with the levying officer within the
time allowed, the levying officer shall proceed to sell the property.
If a copy of the notice of motion is filed with the levying officer
within the time allowed, the levying officer shall continue to
collect the property until otherwise ordered by the court.
   (d) At the hearing on the motion, the court may in its discretion
order that the property be sold or be collected depending on the
equities and circumstances of the particular case. If the court
orders that the property be sold, the order may specify terms and
conditions of sale. If the court orders that the property be
collected, the court may condition its order on an assignment of the
property by the judgment debtor to the judgment creditor pursuant to
Article 6 (commencing with Section 708.510) of Chapter 6.

701.530.  (a) Notice of sale of personal property shall be in
writing, shall state the date, time, and place of sale, and shall
describe the property to be sold.
   (b) Not less than 10 days before a sale of personal property,
notice of sale shall be posted and served on the judgment debtor by
the levying officer. Service shall be made personally or by mail.
   (c) Posting under this section shall be in three public places in:
   (1) The city in which the property is to be sold if it is to be
sold in a city.
   (2) The county in which the property is to be sold if it is not to
be sold in a city.
   (d) A sale of personal property of an individual may not take
place until the expiration of the time during which the judgment
debtor may make a claim of exemption under subdivision (a) of Section
703.520.

701.540.  (a) Notice of sale of an interest in real property shall
be in writing, shall state the date, time, and place of sale, shall
describe the interest to be sold, and shall give a legal description
of the real property and its street address or other common
designation, if any. If the real property has no street address or
other common designation, the notice of sale shall include a
statement that directions to its location may be obtained from the
levying officer upon oral or written request or, in the discretion of
the levying officer, the notice of sale may contain directions to
its location. Directions are sufficient if information as to the
location of the real property is given by reference to the direction
and approximate distance from the nearest crossroads, frontage road,
or access road. If an accurate legal description of the real property
is given, the validity of the notice and sale is not affected by the
fact that the street address or other common designation, or
directions to its location, are erroneous or omitted.
   (b) Not less than 20 days before the date of sale, notice of sale
of an interest in real property shall be served, mailed, and posted
by the levying officer as provided in subdivisions (c), (d), (e), and
(f).
   (c) Notice of sale shall be served on the judgment debtor. Service
shall be made personally or by mail.
   (d) Notice of sale shall be posted in the following places:
   (1) One public place in the city in which the interest in the real
property is to be sold if it is to be sold in a city or, if not to
be sold in a city, one public place in the county in which the
interest in the real property is to be sold.
   (2) A conspicuous place on the real property.
   (e) At the time notice is posted pursuant to paragraph (2) of
subdivision (d), notice of sale shall be served or service shall be
attempted on one occupant of the real property. Service on the
occupant shall be made by leaving the notice with the occupant
personally or, in the occupant's absence, with any person of suitable
age and discretion found upon the real property at the time service
is attempted who is either an employee or agent of the occupant or a
member of the occupant's household. If the levying officer is unable
to serve such an occupant at the time service is attempted, the
levying officer is not required to make any further attempts to serve
an occupant.
   (f) If the property described in the notice of sale consists of
more than one distinct lot, parcel, or governmental subdivision and
any of the lots, parcels, or governmental subdivisions lies with
relation to any of the others so as to form one or more continuous,
unbroken tracts, only one service pursuant to subdivision (e) and
posting pursuant to paragraph (2) of subdivision (d) need be made as
to each continuous, unbroken tract.
   (g) Notice of sale shall be published pursuant to Section 6063 of
the Government Code, with the first publication at least 20 days
prior to the time of sale, in a newspaper of general circulation
published in the city in which the real property or a part thereof is
situated if any part thereof is situated in a city or, if not, in a
newspaper of general circulation published in the judicial district
in which the real property or a part thereof is situated. If no
newspaper of general circulation is published in the city or judicial
district, notice of sale shall be published in a newspaper of
general circulation in the county in which the real property or a
part thereof is situated.
   (h) Not earlier than 30 days after the date of levy, the judgment
creditor shall determine the names of all persons having liens on the
real property on the date of levy that are of record in the office
of the county recorder and shall instruct the levying officer to mail
notice of sale to each such person at the address used by the county
recorder for the return of the instrument creating the person's lien
after recording. The levying officer shall mail notice to each such
person, at the address given in the instructions, not less than 20
days before the date of sale.

701.545.  Notice of sale of an interest in real property, other than
a leasehold estate with an unexpired term of less than two years at
the time of levy, may not be given pursuant to Section 701.540 until
the expiration of 120 days after the date notice of levy on the
interest in real property was served on the judgment debtor.

701.547.  A notice of sale shall contain the substance of the
following statement: "Prospective bidders should refer to Sections
701.510 to 701.680, inclusive, of the Code of Civil Procedure for
provisions governing the terms, conditions, and effect of the sale
and the liability of defaulting bidders."

701.550.  (a) In addition to the notice of sale required by this
article, the levying officer shall, at the time notice of sale is
posted pursuant to Section 701.530 or 701.540, mail notice of sale to
any person who has requested notice of the sale pursuant to this
section.
   (b) A request for notice of sale under this section made prior to
the issuance of the writ shall be in writing and shall be filed with
the clerk of the court where the judgment is entered. The request
shall specify the title of the court, the cause and number of the
action in which the judgment was entered, and the date of entry
thereof, and shall state the address to which the notice of sale is
to be mailed. The name and address of the person requesting notice of
sale under this subdivision shall be noted on the writ.
   (c) A person who desires notice of sale of particular property
that has been levied upon may file a request for notice of sale with
the levying officer who will conduct the sale. The request shall
contain the information specified by the levying officer as needed in
order to comply with the request.

701.555.  In addition to the notice of sale required by this
article, the judgment creditor may advertise the sale in the
classified or other advertising section of a newspaper of general
circulation or other publication and may recover reasonable costs of
such advertising. The judgment debtor may also advertise the sale at
the judgment debtor's own expense.

701.560.  (a) Failure to give notice of sale as required by this
article does not invalidate the sale.
   (b) A levying officer who sells property without giving the
required notice is liable to the judgment creditor and the judgment
debtor for actual damages caused by failure to give notice.

701.570.  (a) A sale of property shall be held at the date, time,
and place specified in the notice of sale, which shall be in the
county where the property or a part thereof is situated and between
the hours of nine in the morning and five in the afternoon. Subject
to subdivision (d), real property consisting of one parcel, or of two
or more contiguous parcels, situated in two or more counties may be
sold in one county as instructed by the judgment creditor.
   (b) The sale shall be made at auction to the highest bidder.
   (c) If personal property capable of manual delivery is to be sold,
it shall be within the view of those who attend the sale unless,
upon application of the judgment creditor or the judgment debtor, the
court orders otherwise.
   (d) Property shall be sold separately or in such groups or lots as
are likely to bring the highest price. The judgment debtor may
request that the property be sold separately or together and may
request that the property be sold in a particular order. If the
judgment debtor is not present at the sale, the request may be made
in writing and delivered to the levying officer prior to the sale.
The levying officer shall honor the request if, in the opinion of the
levying officer, the requested manner of sale is likely to yield an
amount at least equal to any other manner of sale or the amount
required to satisfy the money judgment. The levying officer is not
liable for a decision made in good faith under this subdivision.
   (e) After sufficient property has been sold to yield the amount
required to satisfy the money judgment, no more shall be sold.

701.580.  The judgment debtor and judgment creditor together may
request in writing that a sale be postponed to an agreed day and
hour. The request shall be delivered to the levying officer
conducting the sale, and the levying officer shall, by public
declaration at the time and place originally fixed for the sale,
postpone the sale to the day and hour fixed in the request. Notice of
any additional postponements shall be given by public declaration by
the levying officer at the time and place last appointed for the
sale. No other notice of postponed sale need be given. A postponed
sale shall be held at the place originally fixed for the sale.

701.590.  (a) Except as otherwise provided in this section, the
purchaser at a sale shall pay in cash or by certified check or
cashier's check.
   (b) The judgment creditor may bid by giving the levying officer a
written receipt crediting all or part of the amount required to
satisfy the judgment, except that the levying officer's costs
remaining unsatisfied and the amount of preferred labor claims,
exempt proceeds, and any other claim that is required by statute to
be satisfied, shall be paid in cash or by certified check or cashier'
s check.
   (c) If the highest bid for an interest in real property sold
exceeds five thousand dollars ($5,000), the highest bidder may elect
to treat the sale as a credit transaction. A person who makes the
election shall deposit at least five thousand dollars ($5,000) or 10
percent of the amount bid, whichever is greater, and within 10 days
after the date of the sale shall pay the balance due plus costs
accruing with regard to the property sold and interest accruing at
the rate on money judgments on the balance of the amount bid from the
date of sale until the date of payment.
   (d) If the highest bid for an item, group, or lot of personal
property sold exceeds two thousand five hundred dollars ($2,500), the
highest bidder may elect to treat the sale as a credit transaction.
A person who makes the election shall deposit at least two thousand
five hundred dollars ($2,500) or 10 percent of the amount bid,
whichever is greater, and within 10 days after the date of the sale
shall pay the balance due plus costs accruing with regard to the
property sold and interest accruing at the rate on money judgments on
the balance of the amount bid from the date of sale until the date
of payment.
   (e) A person who makes the election under subdivision (c) or (d)
is not entitled to possession of the property sold until the amount
bid, plus accruing costs and interest, have been paid.

701.600.  If the highest bidder does not pay the amount bid as
prescribed by Section 701.590:
   (a) The levying officer shall sell the property:
   (1) If the default occurs at the sale, either to the next highest
bidder at the amount of the next highest bid if such bidder agrees or
to the highest bidder at a new sale held immediately.
   (2) If the default occurs after the sale to a credit bidder
pursuant to subdivision (c) of Section 701.590, to the highest bidder
at a new sale.
   (b) The levying officer shall apply the amount of any deposit made
pursuant to subdivision (c) of Section 701.590 in the following
order:
   (1) To the satisfaction of costs accruing with regard to the
property sold from the date of the sale until the date the property
is resold, including costs of resale.
   (2) To the satisfaction of interest at the rate on money judgments
on the amount bid from the date of the sale until the date the
property is resold.
   (3) To the amount required to satisfy the money judgment in the
order of distribution prescribed by Section 701.810 or Section
704.850, whichever is applicable.
   (c) If there is a sale to the next highest bidder or to the
highest bidder at a new sale, the defaulting bidder is liable for the
following amounts in an action by the judgment creditor or judgment
debtor:
   (1) The amount bid, less the amount obtained from the resale of
the property and the amount of any deposit applied pursuant to
subdivision (b). The amount recovered pursuant to this paragraph
shall be distributed in the manner prescribed by Section 701.810 or
Section 704.850, whichever is applicable.
   (2) Any costs accruing with regard to the property sold from the
date of sale until the date the property is resold, including costs
of resale.
   (3) Interest at the rate on money judgments on the amount bid from
the date of the sale until the date the property is resold.
   (4) Costs and attorney's fees incurred in the action under this
subdivision.
   (d) The levying officer may, in the levying officer's discretion,
reject any subsequent bid of the defaulting bidder.

701.610.  The levying officer may not be a purchaser or have an
interest in any purchase at a sale.

701.620.  (a) Property may not be sold unless the amount bid exceeds
the total of the following amounts:
   (1) The amount of all preferred labor claims that are required by
Section 1206 to be satisfied from the proceeds.
   (2) The amount of any state tax lien (as defined in Section 7162
of the Government Code) that is superior to the judgment creditor's
lien.
   (3) If the purchaser is not the judgment creditor, the amount of
any deposit made pursuant to Section 720.260 with interest thereon at
the rate on money judgments from the date of the deposit to the date
of the sale.
   (b) Property for which a proceeds exemption is provided by Section
704.010 (motor vehicle), 704.020 (household furnishings and other
personal effects), or 704.060 (tools of trade), may not be sold
unless the amount bid exceeds the sum of any amount under subdivision
(a) and the amount of the proceeds exemption.
   (c) If a minimum bid required for the sale of property pursuant to
this section is not received, the levying officer shall promptly
release the property.

701.630.  If property is sold pursuant to this article, the lien
under which it is sold, any liens subordinate thereto, and any state
tax lien (as defined in Section 7162 of the Government Code) on the
property sold are extinguished.

701.640.  The purchaser of property at an execution sale acquires
any interest of the judgment debtor in the property sold (1) that is
held on the effective date of the lien under which the property was
sold or (2) that is acquired between such effective date and the date
of sale.

701.650.  (a) When the purchaser of personal property pays the
amount due:
   (1) If the property is capable of manual delivery, the levying
officer shall deliver the property to the purchaser and, if the
purchaser so requests, shall execute and deliver a certificate of
sale to the purchaser.
   (2) If the property is not tangible personal property or if it is
otherwise not capable of manual delivery, the levying officer shall
execute and deliver a certificate of sale to the purchaser.
   (b) If property or a certificate is delivered pursuant to
subdivision (a), the levying officer shall sign or endorse any
document or instrument in the levying officer's possession relating
to the title to or the right to possession of the property and
deliver it to the purchaser.

701.660.  When the purchaser of an interest in real property pays
the amount due, the levying officer conducting the sale shall execute
and deliver a deed of sale to the purchaser and record a duplicate
of the deed of sale in the office of the county recorder.

701.670.  The certificate of sale or deed of sale shall contain all
of the following:
   (a) The title of the court where the judgment was entered under
which the sale was made and the cause and number of the action.
   (b) The date of entry of the judgment and of any subsequent
renewals and where entered in the records of the court.
   (c) The name and address of the judgment creditor and the name and
last known address of the judgment debtor.
   (d) A description of the property sold.
   (e) The date of sale.

701.680.  (a) Except as provided in paragraph (1) of subdivision
(c), a sale of property pursuant to this article is absolute and may
not be set aside for any reason.
   (b) If the judgment is reversed, vacated, or otherwise set aside,
the judgment debtor may recover from the judgment creditor the
proceeds of a sale pursuant to the judgment with interest at the rate
on money judgments to the extent the proceeds were applied to the
satisfaction of the judgment.
   (c) If the sale was improper because of irregularities in the
proceedings, because the property sold was not subject to execution,
or for any other reason:
   (1) The judgment debtor, or the judgment debtor's successor in
interest, may commence an action within 90 days after the date of
sale to set aside the sale if the purchaser at the sale is the
judgment creditor. Subject to paragraph (2), if the sale is set
aside, the judgment of the judgment creditor is revived to reflect
the amount that was satisfied from the proceeds of the sale and the
judgment creditor is entitled to interest on the amount of the
judgment as so revived as if the sale had not been made. Any liens
extinguished by the sale of the property are revived and reattach to
the property with the same priority and effect as if the sale had not
been made.
   (2) The judgment debtor, or the judgment debtor's successor in
interest, may recover damages caused by the impropriety. If damages
are recovered against the judgment creditor, they shall be offset
against the judgment to the extent the judgment is not satisfied. If
damages are recovered against the levying officer, they shall be
applied to the judgment to the extent the judgment is not satisfied.
   (d) For the purposes of subdivision (c), the purchaser of the
property at the sale is not a successor in interest.