Bill > SB2919

Introduced Session

Reinserts the provisions of the engrossed bill with the following changes. Deletes the provision that in a judicial sale the person conducting the sale has the discretion to set the terms of sale. Provides that the sheriff or other person conducting the sale may charge an additional fee as a reasonable expense of the sale for costs associated with conducting the sale online. Requires that the purchaser must provide the sale deposit, if applicable, and the balance due to the sheriff or other person conducting the sale at least 24 hours after the end of the sale, unless otherwise set forth by the sheriff or other person conducting the sale, in a designated form. Provides that in every sale of residential real estate conducted online: (1) the sale may be held open for bidding for up to 3 days and extended by the person conducting the sale as needed to allow for all active competitive bidding to occur, counted in accordance with the provisions of the Statute on Statutes; and (2) bidding shall be open to everyone for the entire duration of the bidding period.

Committee Categories

Eva-Dina Delgado (D)*,  Rob Martwick (D)*, 

Public Act . . . . . . . . . 103-0930 (on 08/09/2024)

Official Document