2003 Regular Session

HOUSE BILL 1054

CHAPTER NUMBER: 348 File Code: Estates and Trusts Crossfiled with: SENATE BILL 678
Sponsored By:
Delegate Minnick
Entitled:
Real Property - Mortgage or Deed of Trust - Enforcement of Release

Synopsis:

Establishing a 45 day period after a loan secured by a mortgage or deed of trust has been paid in full for the holder to take action for the release and recordation of the satisfaction of the mortgage or deed of trust; requiring the holder, in an action where the borrower prevails in requiring delivery of a release, to pay the costs and expenses of the action, including reasonable attorney's fees; and providing specified exemptions from paying specified costs.

History by Legislative Date

House Action
2/18
First Reading House Rules and Executive Nominations
2/27
Re-referred Environmental Matters
2/28
Hearing 3/18 at 1:00 p.m.
3/22
Favorable Report by Environmental Matters
3/21
Favorable Report Adopted
Second Reading Passed
3/22
Third Reading Passed (136-0)
3/30
Returned Passed
5/13
Signed by the Governor Chapter 348
Senate Action
3/23
First Reading Judicial Proceedings
3/31
Favorable Report by Judicial Proceedings
3/30
Favorable Report Adopted
Second Reading Passed
3/31
Third Reading Passed (46-0)
Bill indexed under the following Subjects:
CIVIL ACTIONS -see also- SMALL CLAIMS
COURT COSTS
LOANS -see also- MORTGAGES
MORTGAGES
RECORDATION
Bill affects the following Statutes:
Financial Institutions
( 11-501 , 11-502 )
Real Property
( 3-105.1 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered
Roll Call Votes (Legislative dates are shown):
House
March 22, 2003: Third Reading Passed (136-0)
Senate
March 31, 2003: Third Reading Passed (46-0)