2007 Regular Session

SENATE BILL 623

File Code: Real Property Crossfiled with: HOUSE BILL 489
Sponsored By:
Senators Gladden and Stone
Entitled:
Ground Rents - Redemption

Synopsis:

Repealing the waiting period for redeeming specified ground rents; requiring the transferee of a ground lease to notify the leasehold tenant of the transfer within a specified period of time after the transfer; requiring the notification to include specified information and to be sent to a specified address; requiring a settlement agent, before settlement of a specified loan, to notify the borrower of the right to redeem a redeemable ground rent and the redemption amount; etc.

History by Legislative and Calendar Date

Senate Action
2/2
First Reading Judicial Proceedings
2/7
Hearing 2/28 at 1:00 p.m.
3/19
Favorable with Amendments Report by Judicial Proceedings
3/20
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/22
Third Reading Passed (47-0)
4/1
Returned Passed
House Action
3/19
First Reading Environmental Matters
3/27
Hearing 3/30 at 1:00 p.m.
4/5
Favorable Report by Environmental Matters
3/30
Favorable Report Adopted
Second Reading Passed
3/31
Third Reading Passed (138-0)
Action after passage in Senate and House
5/17
Vetoed by the Governor (Duplicative)

Sponsored by:

Senator Lisa A. Gladden, District 41
Senator Norman R. Stone, Jr., District 6

Bill indexed under the following Subjects:

Disclosure
Housing and Community Development, Department of
Landlord and Tenant -see also- Eviction; Leases & Rent; etc.
Leases and Rent
Loans -see also- Mortgages
Notices
Real Property
Reports
Settlement Procedures

Bill affects the following Statutes:

Real Property
( 8-110 , 14-116.1 , 14-129 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal and Policy Note (Displayed in PDF Format): Available
Attorney General Letter (Displayed in PDF Format): Available
Amendments (Displayed in PDF Format):
Senate
Number: 558279/01     Offered on: March 20, 2007   at: 11:05 a.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
Senate
March 22, 2007: Third Reading Passed (47-0)
House
March 31, 2007: Third Reading Passed (138-0)