Bill Title: Amends the Probate Act of 1975. Provides that in any proceeding to sell or mortgage real estate, if the secured creditors cannot be satisfied in full, then the court may not direct the sale without the secured creditor's approval to accept partial satisfaction; and if the secured creditors cannot be satisfied in full, a sale of the property is not considered necessary for the effective administration of the estate. Effective immediately.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced) 2025-03-21 - Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments [SB2221 Detail]

Text: Latest bill text (Introduced) [HTML]

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