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Glossary of Legislative Terms

SB 82: Short Sale Debt Relief

GENERAL BILL by Soto

Short Sale Debt Relief; Creating the “Short Sale Debt Relief Act”; providing that a debtor does not owe a deficiency to a lienholder related to an eligible real property sold pursuant to a bona fide short sale if an offer is received by the debtor within a specified time period and under specified conditions; requiring a lienholder to approve the short sale of property and execute any document necessary to close the sale within a specified time period if a debtor procures a buyer who makes an offer in writing equal to the fair market value of the eligible property, etc.

Effective Date: 7/1/2014
Last Action: 5/2/2014 Senate - Died in Judiciary
Bill Text: Web Page | PDF
Senate Committee References:
  1. Judiciary (JU)
  2. Banking and Insurance (BI)
  3. Rules (RC)


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Bill History

Date Chamber Action
8/13/2013 Senate • Filed
8/27/2013 Senate • Referred to Judiciary; Banking and Insurance; Rules -SJ 18
3/4/2014 Senate • Introduced -SJ 18
5/2/2014 Senate • Died in Judiciary