Legal Question in Real Estate Law in California

You think a bank can't legally own real property?? What have you been smoking?? The bank is usually the high bidder at the foreclosure auction. The more accurate statement is that the bank doesn't want to own real property.

Who told you a bank cannot own real property? A sea lawyer? Banks own real property all the time, especially after they foreclose.

A lot of what people "know" about "the law" is wrong, and quite illogical, as here. As close as you got to it is that, banks are limited by federal regulations as to what percentage of their assets can be held in REO [Real Estate Owned], meaning either investments of their own, or foreclosed on property. If they couldn't "own" property, why would you think they would make loans on which they couldn't foreclose???

Further answer: Who is it you think is selling all the millions of foreclosed properties these days??? Or, better yet, all the properties that people turn 'back to the bank' when they submit 'deed in lieu' to avoid the hassle of foreclosure.??