Article 4 - Interest

California Code of Civil Procedure — §§ 1268.310-1268.360

Sections (7)

Amended by Stats. 1986, Ch. 1372, Sec. 1.

The compensation awarded in the proceeding shall draw interest, computed as prescribed by Section 1268.350, from the earliest of the following dates:

(a)The date of entry of judgment.

(b)The date the plaintiff takes possession of the property.

(c)The date after which the plaintiff is authorized to take possession of the property as stated in an order for possession.

§ 1268.311

Added by Stats. 1986, Ch. 1372, Sec. 2.

In any inverse condemnation proceeding in which interest is awarded, the interest shall be computed as prescribed by Section 1268.350.

§ 1268.320

Added by Stats. 1975, Ch. 1275.

The compensation awarded in the proceeding shall cease to draw interest at the earliest of the following dates:

(a)As to any amount deposited pursuant to Article 1 (commencing with Section 1255.010) of Chapter 6 (deposit of probable compensation prior to judgment), the date such amount is withdrawn by the person entitled thereto.

(b)As to the amount deposited in accordance with Article 2 (commencing with Section 1268.110) (deposit of amount of award), the date of such deposit.

(c)As to any amount paid to the person entitled thereto, the date of such payment.

§ 1268.330

Amended by Stats. 1986, Ch. 1372, Sec. 3.

If, after the date that interest begins to accrue, the defendant:

(a)Continues in actual possession of the property, the value of that possession shall be offset against the interest. For the purpose of this section, the value of possession of the property shall be presumed to be the rate of interest calculated as prescribed by Section 1268.350 on the compensation awarded. This presumption is one affecting the burden of proof.

(b)Receives rents or other income from the property attributable to the period after interest

begins to accrue, the net amount of these rents and other income shall be offset against the interest.

§ 1268.340

Added by Stats. 1975, Ch. 1275.

Interest, including interest accrued due to possession of property by the plaintiff prior to judgment, and any offset against interest as provided in Section 1268.330, shall be assessed by the court rather than by jury.

§ 1268.350

Amended by Stats. 2006, Ch. 311, Sec. 1. Effective January 1, 2007.

(a)As used in this section, “apportionment rate” means the apportionment rate calculated by the Controller as the rate of earnings by the Surplus Money Investment Fund for each calendar quarter.

(b)The rate of interest payable under this article for each calendar quarter, or fraction thereof, for which interest is due, shall be the apportionment rate for the immediately preceding calendar quarter.

(c)Each district office of the Department of Transportation shall quote the apportionment rate to any person upon request.

§ 1268.360

Amended by Stats. 2006, Ch. 311, Sec. 2. Effective January 1, 2007.

The interest payable for each calendar quarter shall draw interest, computed as prescribed by Section 1268.350, in each succeeding calendar quarter for which interest is due.