SB 11
Requires person who purchases residential real property after foreclosure complaint has been filed and before end of redemption period to provide notice to seller regarding relinquishment of interests in property and rights to surplus funds.
| Status | Chapter Number Assigned |
| Session | 2019 Regular Session |
| Sponsors | Laurie Monnes Anderson (Democrat) (Chief), Sara Gelser Blouin (Democrat) (Chief), Cedric Hayden (Republican) |
| Fiscal impact | Has minimal fiscal impact |
| Revenue impact | No revenue impact |
Bill Text
Proposes a constitutional amendment limiting assessed property values to real market value for the first tax year after property sale or transfer.
Sponsors#
Chief Sponsors: Laurie Monnes Anderson, Sara Gelser Blouin
Overview#
Requires person who purchases residential real property after foreclosure complaint has been filed and before end of redemption period to provide notice to seller regarding relinquishment of interests in property and rights to surplus funds. Requires sheriff, before conducting execution sale of real property, to provide on website certain notice to debtor regarding offers to sell rights to surplus funds. Requires complaint in suit to foreclose residential trust deed to include notice to lien debtor regarding sales of redemption rights. Prohibits transferring right to redeem property to successor in interest by sale.].
Legislative History
| Date | Chamber | Action |
|---|---|---|
| 2019-01-14 | S | Introduction and first reading. Referred to President's desk. |
| 2019-01-15 | S | Referred to Judiciary. |
| 2019-03-26 | S | Public Hearing held. |
| 2019-04-03 | S | Work Session held. |
| 2019-04-10 | S | Recommendation: Do pass with amendments. (Printed A-Eng.) |
| 2019-04-11 | S | Second reading. |
| 2019-04-15 | S | Third reading. Carried by Monnes Anderson. Passed. |
| 2019-04-16 | H | First reading. Referred to Speaker's desk. |
| 2019-04-23 | H | Referred to Judiciary. |
| 2019-05-16 | H | Public Hearing held. |
| 2019-05-20 | H | Work Session held. |
| 2019-05-22 | H | Recommendation: Do pass. |
| 2019-05-23 | H | Second reading. |
| 2019-05-27 | H | Carried over to May 28, 2019 Calendar by virtue of adjournment. |
| 2019-05-28 | H | Carried over to May 29, 2019 Calendar by virtue of adjournment. |
| 2019-05-29 | H | Carried over to May 30, 2019 Calendar by virtue of adjournment. |
| 2019-05-30 | H | Third reading. Carried by Piluso. Passed. |
| 2019-06-03 | S | President signed. |
| 2019-06-04 | H | Speaker signed. |
| 2019-06-11 | S | Governor signed. |
| 2019-06-17 | S | Chapter 309, 2019 Laws. |
| 2019-06-17 | S | Effective date, January 1, 2020. |