Legislation
- Title
- Real Property - Refinance Mortgage - Priority over Junior Liens
- Sponsored by
- Senators Frosh and Klausmeier
- Status
- Approved by the Governor - Chapter 205
- Analysis
- Fiscal and Policy Note (Revised)
Synopsis
Authorizing a mortgagor or grantor to refinance the indebtedness secured by a first mortgage or deed of trust at a lower interest rate without obtaining permission from the holder of a junior lien under specified circumstances; providing that a refinance mortgage meeting the requirements of the Act shall have, on recordation, the same lien priority as the mortgage or deed of trust it replaces; requiring a specified statement to be included on a refinance mortgage; etc.
Committees
Details
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(
3-203, 7-112 )
Last Updated: 2/3/2020 2:27 PM