HB18-1254

HB18-1254 - Public Trustee Deed Of Trust Foreclosure Sales

Passed/Signed into Law
Concerning the modification of the foreclosure process on property that is encumbered by a deed of trust.

The bill modifies and clarifies certain aspects of the foreclosure process on property encumbered by a deed of trust as follows:

 

  • Eliminates the authority of the attorney for a holder of an evidence of debt (holder) to specify the newspaper used to publish foreclosure notices;
  • Allows an amended combined notice to be omitted in a specified circumstances when the notice is provided by the sheriff or public trustee conducting the foreclosure (officer);
  • Modifies the amount of the deposit required for the fees and costs of the public trustee;
  • Omits a statement notifying borrowers of their ability to file a complaint if they believe a lender or servicer has violated certain requirements from the portions of a combined notice that must be published;
  • Makes changes to the bid form used by holders;
  • Clarifies the amount to be paid to the officer if the holder bids an amount that exceeds the amount due to the holder;
  • Prorates the amount of insurance premiums that may be claimed as costs;
  • Further specifies and modifies the procedures for restarting a foreclosure proceeding when a property is subject to a federal bankruptcy case or if a sale has been enjoined or set aside by a court;
  • Specifies the interest and other amounts that may be charged by the holder of a certificate of purchase when property is redeemed; and
  • Clarifies the procedure for junior subsequent lienors to redeem a property.
    (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

     

House Committees

Senate Committees

Latest update: April 23, 2018
04/23/2018 - Governor Signed
04/17/2018 - Sent to the Governor
04/16/2018 - Signed by the President of the Senate
04/16/2018 - Signed by the Speaker of the House
04/03/2018 - House Considered Senate Amendments - Result was to Concur - Repass
03/29/2018 - Senate Third Reading Passed - No Amendments
03/28/2018 - Senate Second Reading Passed with Amendments - Floor
03/27/2018 - Senate Second Reading Laid Over Daily - No Amendments
03/22/2018 - Senate Committee on Finance Refer Unamended - Consent Calendar to Senate Committee of the Whole
03/19/2018 - Introduced In Senate - Assigned to Finance
03/16/2018 - House Third Reading Passed - No Amendments
03/15/2018 - House Second Reading Passed with Amendments - Committee
03/12/2018 - House Committee on Finance Refer Amended to House Committee of the Whole
02/22/2018 - Introduced In House - Assigned to Finance