Section 18037 Of Chapter 5. Sales And Escrows From California Health And Safety Code >> Division 13. >> Part 2. >> Chapter 5.
18037
. Notwithstanding any agreement to the contrary, the holder of
a conditional sale contract for which Regulation Z disclosures are
required pursuant to Section 18036.5 is subject to all equities and
defenses of the buyer against the seller, except as provided by
Section 18036.5. However, the assignee's liability may not exceed the
amount of the debt owing to the assignee at the time of assignment.
The assignee shall have recourse against the seller to the extent of
any liability incurred by the assignee pursuant to this section
whether the assignment was with or without recourse except to the
extent of any written agreement between the seller and assignee which
expressly references this section and modifies its effect.