| 1 | A bill to be entitled |
| 2 | An act relating to the payment of fees in foreclosure |
| 3 | proceedings; requiring a financial institution that |
| 4 | institutes a foreclosure proceeding against residential |
| 5 | property to pay all fees associated with or owed by the |
| 6 | property which accrue from the date the foreclosure action |
| 7 | is initiated until the foreclosure is finalized; providing |
| 8 | for retroactive application; providing an effective date. |
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| 10 | Be It Enacted by the Legislature of the State of Florida: |
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| 12 | Section 1. Any financial institution that institutes a |
| 13 | foreclosure proceeding against a residential property or has a |
| 14 | foreclosure proceeding pending against residential property |
| 15 | shall timely pay all fees associated with or owed by that |
| 16 | property, including, but not limited to, homeowners' association |
| 17 | fees, maintenance fees, and property taxes. The financial |
| 18 | institution shall pay such fees accruing from the date on which |
| 19 | the foreclosure action is initiated through the date on which |
| 20 | the foreclosure is finalized. This section applies: |
| 21 | (1) Retroactively to all foreclosure proceedings pending |
| 22 | as of the effective date of this act. |
| 23 | (2) To all foreclosure proceedings initiated on or after |
| 24 | the effective date of this act. |
| 25 | Section 2. This act shall take effect upon becoming a law. |