SB0199 (CH0205)

2013 Regular Session

 

Entitled:

Real Property - Refinance Mortgage - Priority over Junior Liens

Sponsored by:

Senator Frosh

Status:

Approved by the Governor - Chapter 205


Synopsis:Authorizing a mortgagor or grantor to refinance the indebtedness secured by a first mortgage or deed of trust at a lower interest rate without obtaining permission from the holder of a junior lien under specified circumstances; providing that a refinance mortgage meeting the requirements of the Act shall have, on recordation, the same lien priority as the mortgage or deed of trust it replaces; requiring a specified statement to be included on a refinance mortgage; etc.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Senators Frosh and Klausmeier
Additional Facts:Cross-filed with: HB0088
Bill File Type: Regular
Effective Date(s): October 1, 2013
Committee(s):
Judicial Proceedings  Listen to Committee HearingEnvironmental Matters  View Committee Hearing
Broad Subject(s):Real Property
Commercial Law - Credit Regulation
Narrow Subject(s):Agents and Brokers
Deeds
Liens -see also- Mechanics' Liens
Mortgages
Notices
Real Property
Recordation
Statutes:Article - Real Property
(3-203, 7-112)

How a Bill Becomes Law

Legislative Lingo

Explanation of Floor Motions and Actions


October 2, 2015 9:12 A.M.