Bill
Bill > H2085
MA H2085
MA H2085Relative to the sale of foreclosed residential property to certain cities and towns
summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
Relative to the sale of foreclosed residential property to certain cities and towns. Municipalities and Regional Government.
AI Summary
This bill amends the existing Massachusetts law to require creditors to offer certain foreclosed residential properties to the city or town where the property is located, if the city or town has accepted the relevant section of the law. The bill provides the municipality with 90 days to submit an offer to purchase the property, and if the offer is accepted, the creditor and the municipality must enter into an agreement to complete the sale. If an agreement is not reached within 90 days, the creditor may then proceed with the foreclosure sale. The purpose of this bill is to give municipalities an opportunity to acquire and preserve affordable housing in their communities.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Accompanied a study order, see H4573 (on 05/16/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/193/H2085 |
| BillText | https://malegislature.gov/Bills/193/H2085.pdf |
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