I applied for a loan on a lot, but the lender tells me that I must supply them with the new Assessor's Parcel Number (APN)
Although it would certainly be convenient for your lender to have the new APN covering just your lot, it is our understanding that it is not required by law in order for your lender to complete the loan. Most lenders merely temporarily use the existing APN covering the larger property out of which your new lot was created, until a new APN for your lot is issued by the Assessor.
For example, if the larger property was covered by APN 123-400-006-000, then most lenders would simply refer to your lot as "Portion of APN 123-400-006-000". The most important identification of your lot is its "legal description", which is shown on your deed to the property, and which must be used by them to describe the lot subject to the loan.
Each year, land owners who subdivide, then sell off portions of their property cumulatively create literally thousands of new lots. Each new lot must be given a new, separate, unique assessment parcel number ("APN"), then valued for property tax purposes by the Assessor's staff.
This is a considerable task that must be done accurately and in strict accordance with California's complex statutory scheme of property assessment and taxation laws and procedures.
As soon as possible, however, separate APNs will be created, valued and then tax bills mailed to the new owners.