Article 4. Impound Accounts of California Government Code >> Division 4. >> Title 2. >> Part 1. >> Chapter 5. >> Article 4.
In the event that the amount secured by the state's lien
provided for in Article 1 (commencing with Section 16180) is paid by
reason of the sale or condemnation of the property on which the lien
attaches, the funds so received shall be placed in the Senior
Citizens and Disabled Citizens Property Tax Postponement Fund.
The claimant under Chapter 2 (commencing with Section
20581), Chapter 3 (commencing with Section 20625), or Chapter 3.5
(commencing with Section 20640) of Part 10.5 of Division 2 of the
Revenue and Taxation Code whose residential dwelling was sold or
condemned shall not draw upon the amount in the Senior Citizens and
Disabled Citizens Property Tax Postponement Fund.
(a) In the event that the real property securing the state'
s lien provided for in Article 1 (commencing with Section 16180) is
the residential dwelling of a claimant under Chapter 2 (commencing
with Section 20581) of Part 10.5 of Division 2 of the Revenue and
Taxation Code and is voluntarily sold, the funds derived from the
voluntary sale of the residential dwelling shall be placed in the
Senior Citizens and Disabled Citizens Property Tax Postponement Fund.
At that time, the Controller shall release the state's lien in the
manner prescribed by Section 16186.
(b) The claimant under Chapter 2 (commencing with Section 20581)
of Part 10.5 of Division 2 of the Revenue and Taxation Code whose
residential dwelling was voluntarily sold shall not draw upon the
amount in the Senior Citizens and Disabled Citizens Property Tax
Postponement Fund.