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2003 SESSION
HB 2653 Property; penalty for failure to properly release a deed of trust.
Introduced by: David B. Albo | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Assignment of penalty for failure to properly release a deed of trust. Provides that neither a settlement agent nor an attorney may take an assignment of the $500 statutory penalty provided to the lien obligor for the failure of the lien creditor to properly file a release of a deed of trust or other lien against property.
SUMMARY AS INTRODUCED:
Assignment of penalty for failure to properly release a deed of trust. Clarifies that the statutory penalty provided to the lien obligor for the failure of the lien creditor to properly file a release of a deed of trust or other lien against property shall not be assigned by such obligor to any other party.