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2023 SESSION
SB 1428 Common interest communities; foreclosure remedy.
Introduced by: Scott A. Surovell | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Common interest communities; foreclosure remedy. Prohibits a common interest community association from conducting a foreclosure sale on a lien for unpaid assessments totaling less than $5,000, excluding interest and attorney fees. Current law does not place a limit on the amount of assessments that must be unpaid before a common interest community association may conduct a foreclosure sale on a lien for any such unpaid assessments. The bill also limits interest charged on such unpaid assessments to an annual rate of six percent and prohibits any bill to enforce a lien from being entertained upon such property if the assessments are less than $5,000. Current law prohibits any bill to enforce a lien from being entertained if such real estate is the judgment debtor's primary residence unless the judgment exceeds $25,000.
FULL TEXT
- 01/11/23 Senate: Prefiled and ordered printed; offered 01/11/23 23103827D pdf | impact statement
- 01/18/23 Senate: Committee substitute printed to LIS only 23104998D-S1 pdf
AMENDMENTS
HISTORY
- 01/11/23 Senate: Prefiled and ordered printed; offered 01/11/23 23103827D
- 01/11/23 Senate: Referred to Committee on General Laws and Technology
- 01/18/23 Senate: Committee substitute printed to LIS only 23104998D-S1
- 01/18/23 Senate: Passed by indefinitely in General Laws and Technology with letter (12-Y 2-N)