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2004 SESSION
SB 504 Deeds of trust; those that secure a loan deemed purchase money trusts.
Introduced by: William C. Mims | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Purchase money trusts. Provides that any deed of trust that secures a loan is deemed a purchase money deed of trust if the borrower uses proceeds to acquire the secured real property.
SUMMARY AS INTRODUCED:
Purchase money trusts. Provides that any deed of trust that secures a loan is deemed a purchase money deed of trust if the proceeds are used by the borrower to acquire real property.