SB 586: Foreclosures

GENERAL BILL by Senator Mike Fasano 

Foreclosures; Providing that the purchaser of a foreclosed residential dwelling unit may not take possession until a specified period after notifying a tenant of the intent to take possession; providing that the tenant may terminate a lease upon receiving the notice; providing requirements for landlords following commencement of a foreclosure action; requiring that the landlord hold the security deposit and advance rent in an interest-earning account in specified circumstances; requiring that the landlord disclose in writing to a prospective tenant a foreclosure action and its possible effects on the tenancy; providing an exception to liability for failure to provide notice; requiring the purchaser in a foreclosure sale to credit the tenant for security deposits and advance rents under certain conditions, etc. 

Senate Committee References: Judiciary (JU), Banking and Insurance (BI), Budget (BC) 

Last Action: 01/10/2012 Introduced -SJ 51  

PLEASE CLICK HERE FOR ORIGINALLY FILED VERSION!


BACK TO
PRIORITY BILLS
HOME

LEGISLATIVE

SESSION 2012