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Legislation


2000 Regular Session

HOUSE BILL 148

File Code: Commercial Law - Consumer Protection
Sponsored By:
Delegates Benson and Conroy
Entitled:
Releases of Mortgages and Deeds of Trust - Recordation

Synopsis:

Authorizing a mortgagee or trustee to charge a reasonable fee at the commencement of a residential real property loan to cover the recordation of the release of the loan; requiring a mortgagee or trustee to record the release of a loan within 60 days after the loan is satisfied and to send a recordation notice to the party satisfied; and requiring a mortgagee or trustee to send notice about recordation procedures before October 1, 2001, to the party responsible for making satisfaction of a loan made before October 1, 2000.

History by Legislative Date

House Action
1/19
First Reading Economic Matters
1/24
Hearing 2/3 at 1:00 p.m.
1/27
Hearing cancelled
Re-assigned Commerce and Government Matters
2/2
Hearing 2/15 at 1:00 p.m.
Senate Action
No Action
Sponsored by:
Delegate Joanne C. Benson, District 24
Delegate Mary A. Conroy, District 23
Bill indexed under the following Subjects:
FEES -see also- DEVELOPMENT FEES AND TAXES
FINANCIAL INSTITUTIONS -see also- BANKS; CREDIT UNIONS; etc.
LAND RECORDS -see also- DEEDS
MORTGAGES
NOTICES
RECORDATION
RECORDS -see also- LAND RECORDS; VITAL RECORDS
Bill affects the following Statute:
Real Property
( 3-105.1 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered
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