2003 Regular Session

SENATE BILL 678

File Code: Estates and Trusts Crossfiled with: HOUSE BILL 1054
Sponsored By:
Senator Gladden
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

Senate Action
2/14
First Reading Senate Rules
2/20
Re-referred Judicial Proceedings
Hearing 3/18 at 1:00 p.m.
3/24
Favorable Report by Judicial Proceedings
Favorable Report Adopted
Second Reading Passed
3/25
Third Reading Passed (46-0)
4/4
Returned Passed
5/22
Governor vetoed - Cross-filed bill was signed
House Action
3/25
First Reading House Rules and Executive Nominations
4/2
Re-referred Environmental Matters
Hearing 4/3 at 1:00 p.m.
4/5
Favorable Report by Environmental Matters
4/1
Favorable Report Adopted
Second Reading Passed
4/2
Third Reading Passed (134-0)
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):
Senate
March 25, 2003: Third Reading Passed (46-0)
House
April 2, 2003: Third Reading Passed (134-0)