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
-
SB 1672, Original Filed Version (Current Bill Version) Posted 1/6/2012 at 3:25 PM
Bill Text: Web Page | PDF Analyses: None Citations - Statutes (3)
Citation Catchline Location in Bill Location In Bill Help 697.02 Nature of a mortgage. Page 1 (pdf) 701.02 Assignment not effectual against creditors unless recorded and indicated in title of document; applicability. Page 2 (pdf) 702.01 Equity. Page 4 (pdf)