2008 Regular Session

HOUSE BILL 58

File Code: Real Property
Sponsored By:
Delegate Barnes
Entitled:
Real Property - Foreclosures - Homeowner's Right to Rescind Sales Contract

Synopsis:

Providing that a homeowner of a residence in foreclosure has the right to rescind a contract for the sale of the residence in foreclosure within 3 business days after the date the sales contract is executed; providing for the form and transmittal of the notice of rescission; requiring a homeowner to repay funds paid or advanced by the purchaser under specified circumstances; providing that specified provisions in a sales contract are void; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occuring in the Chambers otherwise Calendar date is used.
House Action
9/27
Pre-filed
1/9
First Reading Environmental Matters
1/30
Hearing 2/21 at 1:00 p.m.
1/31
Hearing cancelled
Hearing 2/21 at 3:00 p.m.
2/6
Hearing cancelled
Hearing 2/22 at 1:00 p.m.
3/17
Unfavorable Report by Environmental Matters
Senate Action
No Action

Bill indexed under the following Subjects:

Contracts -see also- Land Installment Contracts; Procurement
Foreclosure
Land Records -see also- Deeds
Notices
Real Property

Bill affects the following Statutes:

Real Property
( 7-301 , 10-706 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal and Policy Note (Displayed in PDF Format): Available
Amendments: None offered