11RS HB128
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HB128

11RS

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HB 128/LM (BR 292) - D. Horlander, M. Marzian, C. Miller

     AN ACT relating to the filing of deeds in lieu of foreclosure in the county clerk's office.
     Amend KRS 382.110 to require mortgage holders to file deeds in lieu of foreclosure within ten days of executing the deed; amend KRS 382.990 to provide that a mortgage holder failing to record a deed within ten days is guilty of a violation.

HB 128 - AMENDMENTS


     HCS/LM - Retain the original provisions of the bill, but extend the recording requirement from 10 days to 30 days.
     HFA (1/P, M. Harmon) - Amend KRS 142.050 to clarify that a voluntary surrender under a mortgage in lieu of a foreclosure proceeding is not subject to the real estate transfer tax.
     HFA (2, D. Ford) - Amend Section 2 of the bill to set the penalty for a mortgage holder filing a deed in lieu of foreclosure between 30 and 90 days after its execution at $100 and after 90 days at $300; add and amend KRS 142.050 to clarify that a voluntary surrender under a mortgage in lieu of a foreclosure proceeding is not subject to the real estate transfer tax.

     (Prefiled by the sponsor(s).)

     Jan 4-introduced in House; to Banking & Insurance (H)
     Feb 4-posted in committee
     Feb 9-reported favorably, 1st reading, to Calendar with Committee Substitute
     Feb 10-2nd reading, to Rules; floor amendment (1) filed to Committee Substitute ; posted for passage in the Regular Orders of the Day for Friday, February 11, 2011
     Feb 14-floor amendment (2) filed to Committee Substitute
     Feb 15-3rd reading, passed 99-0 with Committee Substitute, floor amendment (2)
     Feb 16-received in Senate
     Feb 18-to Judiciary (S)
     Mar 1-taken from Judiciary (S); 1st reading; returned to Judiciary (S)
     Mar 2-taken from Judiciary (S); 2nd reading; returned to Judiciary (S)

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