SB 1672: Mortgages
GENERAL BILL by Fasano
Mortgages; Providing that a mortgage instrument recorded in the name of a nominee does not provide sufficient notice of the existence of a lien; providing that the use of the term “nominee” in a mortgage instrument does not provide sufficient notice of the actual economic ownership of interests in the real property; requiring that an assignment of a mortgage be recorded upon each transfer of beneficial ownership of the mortgage before a foreclosure action may be initiated, etc.
Effective Date: 7/1/2012
Last Action: 3/9/2012 Senate - Died in Banking and Insurance
Bill Text: Web Page | PDF
Last Action: 3/9/2012 Senate - Died in Banking and Insurance
Bill Text: Web Page | PDF
Senate Committee References:
- Banking and Insurance (BI)
- Commerce and Tourism (CM)
- Budget (BC)
Bill History
| Date | Chamber | Action |
|---|---|---|
| 1/6/2012 | Senate |
• Filed |
| 1/17/2012 | Senate |
• Referred to Banking and Insurance; Commerce and Tourism; Budget -SJ 226 • Introduced -SJ 226 |
| 3/9/2012 | Senate |
• Died in Banking and Insurance |