For the prior video in this series covering the foreclosure decree, court-appointed levying officer and writ of sale, click here.
The proper servicing, mailing, posting and publication of a notice of judicial sale
Similar to the notice of trustee’s sale (NOTS) recorded in a nonjudicial foreclosure, the receiver’s or sheriff’s notice of judicial sale states the necessary details of the auction, such as the:
- date;
- time; and
- location of the sale. [ Code of Civil Procedures §701.540(a)]
When a deficiency judgment is sought by the foreclosing mortgage holder, the notice of judicial sale also states:
- the property is being sold subject to the property owner’s right of redemption; and
- the amount of the secured debt, plus accrued interest and foreclosure-related costs. [CCP §729.010(b)(1)]
If a money judgment for any deficiency is barred, as occurs with a nonrecourse debt, the receiver or sheriff waits at least 120 days after service of the notice of levy before proceeding to notice the judicial sale. [CCP §701.545]
However, if the mortgage holder seeks a deficiency judgment on a recourse debt, no waiting period applies before noticing the sale. The receiver or sheriff may notice the judicial sale immediately after the clerk of the court issues the writ of sale. [CCP §729.010(b)(2), (3)]
At least 20 days before the sale, the notice of judicial sale is:
- served on the property owner personally or by mail [CCP §701.540(c)];
- mailed to any person who has recorded a request for a notice of judicial sale [CCP §701.550(a)];
- posted in a public place in the city or judicial district where the property is located, and on the property itself; and
- published once a week for three successive weeks in a local newspaper of general circulation. [CCP §701.540(g)]
