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HI HB921
Bill
Status
7/6/2010
Primary Sponsor
Jessica Wooley
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AI Summary
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Expands assignment options for 999-year homestead leases to include trustees of land trusts, in addition to family members of the lessee.
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Defines "land trust" as a trust created to manage and hold the homestead leasehold estate for the benefit of the lessee and the lessee's family members, with the lessee able to serve as trustee.
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Permits the trustee of a land trust to assume all obligations of the lessee under the homestead lease.
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Maintains requirement that all successors and assignees remain subject to performing unperformed conditions of the certificate of occupation or homestead lease.
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Takes effect upon approval.
Legislative Description
999-year Homestead Lease; Assignment
Last Action
(S) Vetoed on 07-06-10 - Returned from the Governor without approval (Gov. Msg. No. 654).
7/6/2010