KY HB470 | 2015 | Regular Session
Status
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on February 13 2015 - 25% progression, died in chamber
Action: 2015-02-26 - WITHDRAWN
Text: Latest bill text (Draft #1) [MS Word]
Status: Introduced on February 13 2015 - 25% progression, died in chamber
Action: 2015-02-26 - WITHDRAWN
Text: Latest bill text (Draft #1) [MS Word]
Summary
Create new sections of KRS Chapter 382 and establish the Kentucky Nonjudicial Foreclosure Act to codify provisions for the creation, administration, modification, termination, and validity of deeds of trust with various sections to address definitions and general provisions regarding the sale of property secured by a deed of trust; establish who may act as a trustee subject to the laws of this state; enumerate the requirements for the purchase and sale of certain property when a written offer is made by the grantor and the sale of the property is insufficient to pay the senior beneficiary the obligation owed on a executed deed of trust encumbering residential real property; establish what requirements must be met before a trustee may execute the power of sale conferred by a deed of trust; enumerate what notice a beneficiary is required to provide to a grantor prior to the execution of a deed of trust; provide the requirements that must be met before a trustee or beneficiary may issue a notice of default including notice and contact requirements; enumerate when a trustee has the right to execute the power of sale granted under a deed of trust and what notice is required prior to execution of a power of sale and notice requirements for owner-occupied or tenant occupied property; allow that a trustee may continue a scheduled trustee
Title
AN ACT relating to nonjudicial foreclosures.
Sponsors
| Rep. Jeff Greer [D] | Rep. Thomas Kerr [R] | Rep. Steven Riggs [D] |
History
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| 2015-02-24 | House | returned to Banking & Insurance (H) |
| 2015-02-24 | House | 2nd reading |
| 2015-02-24 | House | taken from Banking & Insurance (H) |
| 2015-02-23 | House | returned to Banking & Insurance (H) |
| 2015-02-23 | House | 1st reading |
| 2015-02-23 | House | taken from Banking & Insurance (H) |
| 2015-02-23 | House | posting waived |
| 2015-02-23 | House | posted in committee |
| 2015-02-23 | House | to Banking & Insurance (H) |
| 2015-02-13 | House | introduced in House |
Kentucky State Sources
| Type | Source |
|---|---|
| Summary | http://www.lrc.ky.gov/record/15RS/HB470.htm |
| Text | http://www.lrc.ky.gov/record/15RS/HB470/bill.doc |
