2001 Regular Session

HOUSE BILL 632

CHAPTER NUMBER: 492 File Code: Real Property Crossfiled with: SENATE BILL 476
Sponsored By:
Delegates Benson and Conroy
Entitled:
Real Property - Recordation - Releases of Mortgages and Deeds of Trust

Synopsis:

Requiring the holder of a mortgage or deed of trust secured by a borrower's principal dwelling to release the mortgage or deed of trust within a reasonable time after the loan is paid in full; requiring the holder or a responsible person to record the release or furnish the borrower with the release in a recordable form and a notice disclosing where it should be recorded; authorizing the holder to collect a fee for recording the release; etc.

History by Legislative Date

House Action
2/7
First Reading Economic Matters
2/14
Hearing 3/1 at 1:00 p.m.
3/20
Favorable with Amendments Report by Economic Matters
3/17
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/18
Third Reading Passed (134-1)
4/3
House Concur - Senate Amendments
Third Reading Passed (138-0)
Passed Enrolled
5/15
Signed by the Governor Chapter 492
Senate Action
3/22
First Reading Judicial Proceedings
4/5
Favorable with Amendments Report by Judicial Proceedings
4/2
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
4/3
Third Reading Passed with Amendments (47-0)
Sponsored by:
Delegate Joanne C. Benson, District 24
Delegate Mary A. Conroy, District 23
Bill indexed under the following Subjects:
DISCLOSURE
FEES -see also- DEVELOPMENT FEES AND TAXES
MORTGAGES
NOTICES
RECORDATION
Bill affects the following Statutes:
Commercial Law
( 12-924 , 12-1024 )
Real Property
( 3-105.1 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled (PDF)
Fiscal Note: Available (PDF)
Amendments:
House
Number: 153090/1 (PDF)     Offered on: March 20, 2001   at: 10:44 a.m.     Status: Adopted
Senate
Number: 428778/1 (PDF)     Offered on: April 5, 2001   at: 8:38 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
March 18, 2001: Third Reading Passed (134-1)
April 3, 2001: Third Reading Passed (138-0)
Senate
April 3, 2001: Third Reading Passed (47-0)