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FL H0125
Bill
Status
9/17/2009
Primary Sponsor
Hazelle Rogers
Click for details
AI Summary
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Requires lenders to notify tenants or lessees before initiating foreclosure or short-sale proceedings against rental properties.
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Grants tenants or lessees a first right of refusal to purchase the property at fair market value if they can provide proof of rental agreement and at least 1 year of rental history.
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Mandates lenders use escrow funds held on the mortgage or note for closing costs if tenant or lessee purchases, or for relocation costs if they do not purchase.
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Makes lenders liable for closing costs, relocation costs, attorney's fees, and related costs if they fail to provide required notice.
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Limits tenant or lessee damage claims to 90 days after receiving notice or learning of the lender's failure to notify.
Legislative Description
Rental Property Foreclosure or Short-sale Actions
Last Action
Introduced, referred to Civil Justice & Courts Policy (CCJP); Insurance, Business, & Financial Affairs Policy (GGPC); Policy Council; Criminal & Civil Justice Policy Council -HJ 00019; On Committee agenda-- Civil Justice & Courts Policy (CCJP), 01/12/10, 10:00 am, Reed Hall --Temporarily deferred; On Committee agenda-- Civil Justice & Courts Policy (CCJP), 03/01/10, 2:15 pm, Reed Hall; Unfavorable by Civil Justice & Courts Policy (CCJP), laid on Table; YEAS 2 NAYS 9 -HJ 00207
3/2/2010