Payoff Statements for Subsequent Owners Signed By Governor

04/06/2012 10:57 AM | Anonymous
4/6/12:    The RPPTL supported bill requiring lenders to provide limited estoppel statements for subsequent owners of property has been signed by the Governor. 

3/30/12:    The bill has been signed by the officers and sent to the Governor for signing or veto.  He must act on this by 4/14/12.

3/7/12 Update:   This bill has passed in both the House and the Senate and will proceed to the Governor for consideration. 

3/6/12 Update:    The Senate version of this bill was taken up in the House and is on second reading.  

2/29/12 Update:   SB 1050 passed the full Senate unanimously. 

The RPPTL Section initiative to require lenders to provide mortgage payoff information to subsequent owners of encumbered property, notwithstanding privacy considerations, HB 505, has unanimously passed out of its final committee of reference in the house today.   This same bill includes changes to the uniform principal and income act.

The Senate companion, SB 1050 was approved by the judiciary committee today, and moved immediately onto the Senate special order calendar.

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