Bill > SB135

This bill modifies laws concerning real property foreclosures and estate sales by updating procedures for property appraisals, public auctions, and the distribution of sale proceeds. Key changes include allowing for exterior-only appraisals for residential properties, specifying that private selling officers must be independent of mortgagees and law firms involved in the property, and clarifying that online auctions for real estate must be open for bidding for at least three calendar days. The bill also adjusts the timing for subsequent auctions of unsold residential properties and modifies how sale costs are handled, particularly for private selling officers, while also introducing definitions for "sale date" and "start date" in the context of real estate auctions. Additionally, it streamlines the process for estate sales by allowing courts to approve additional costs and fees for estate administration, up to a certain limit, to be paid before liens on the property, and updates reporting requirements for judicial sales.