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2022 SESSION

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HB 1338 Deed of trust; notices required before proposed sale by trustee.

Introduced by: Luke E. Torian | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Notices required before sale by trustee. Provides that notice of any proposed sale in execution of a deed of trust shall be given to any personal representative of the deceased's estate whose appointment is recorded at least 75 days prior to the proposed sale and any heirs of the deceased who are listed on the list of heirs recorded at least 75 days prior to the proposed sale. Under current law, there is no time frame within which either such recordation must have been made. The bill further provides that in event of a foreclosure arising from a failure to satisfy periodic payments required by the terms of a deed of trust conveying owner-occupied residential real estate, a notice to the owner shall include the date of the last payment received and the amount received; the total amount of principal, interest, costs, and fees due in arrears; and the remaining total principal balance due on the instrument.


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