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Bill > S644


MA S644

Relative to vacated foreclosed residential property


summary

Introduced
01/22/2019
In Committee
01/22/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

For legislation relative to vacated foreclosed residential property. Financial Services.

AI Summary

This bill requires creditors to place foreclosed residential properties back on the market for sale or lease within one calendar year of foreclosure. Failure to do so would result in the property being forfeited to the town or city where the property is located. This legislation aims to address the issue of vacant foreclosed properties and ensure that these properties are actively sold or leased to new occupants in a timely manner.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Accompanied a study order, see S2543 (on 02/18/2020)

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