Can Short Sale Owner in CA, but property back within 2 years?

[Elaine Kan]

Hi everyone, I am a realtor working in CA and an investor who wanted to buy a short sale told me he heard something about if he bought a short sale home and used it for rental and not primary residence, the original owner of the home(the seller doing the short sale) has a right to buy back the property from him within 2 years at the price the investor bought it from. Please enlighten me if anyone knows of such a rule. Thanks, much appreciated.

[Jennifer Grace]

Thank you Greg, you mention an important point, states have different rules.
Great to the point answer. I concur.
I also want to point out that tax auctions in some states allow a right of redemption as well, but the homeowner then has to pay interest to the new seller.