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2004 SESSION

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HB 1391 Foreclosures; procedures for real property purchased at auction.

Introduced by: Glenn M. Weatherholtz | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Foreclosure; real property purchased at auction. Provides that a successful bidder shall have 10 business days from the date of his purchase of real property at auction to satisfy himself that such property will be conveyed with clear title. If there is a reasonable problem with the title, the date of settlement shall be extended for a reasonable time, not to exceed 60 days, to allow the seller to correct any reported title defects. If such defects cannot be corrected, the successful bidder shall have the right to close the transaction with such defects without any abatement of a portion of the purchase price or to terminate the agreement.

FULL TEXT

• 01/23/04  House: Presented & ordered printed 047328548  pdf

HISTORY

• 01/23/04  House: Presented & ordered printed 047328548
• 01/23/04  House: Referred to Committee for Courts of Justice
• 02/13/04  House: Continued to 2005 in Courts of Justice (22-Y 0-N)