CAPON v. MONOPOLY GAME LLC
The Home Equity Sales Contract Act (HESCA or the Act) (Civ. Code, § 1695 et seq.),[1] enacted in 1979, is designed to protect homeowners in default against unfair purchases of their home equity. The Act regulates transactions between an equity purchaser and an equity seller resulting in the sale of residential real property in foreclosure. Central to the legislative scheme is the requirement that the agreement between the buyer and seller be in writing and contain specific terms aimed at protecting the homeowner (§§ 1695.2, 1695.3, 1695.5). (Segura v. McBride (1992) 5 Cal.App.4th 1028, 1034-1036 (Segura).)
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