Passed BothConf. Cmte
- Condominiums and Homeowners Associations - Residential Property Foreclosure Sales - Purchaser Requirements
- Sponsored by
- Delegate Holmes
- In the House - Hearing 2/28 at 1:00 p.m.
- Fiscal and Policy Note
Requiring a purchaser of residential property in a condominium or homeowners association at a foreclosure sale to immediately record an instrument transferring the residential property and requiring the purchaser to immediately begin payment of regular assessments until the title to the residential property is recorded by a new owner; and authorizing the governing body of a condominium or homeowners association to charge the purchaser a fine of up to $500 per month if the regular assessments are not paid.
Bill File Type: Regular
Effective Date(s): October 1, 2023
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( 7-105.16, 7-105.19 )
Last Updated: 3/1/2023 9:55 AM