summary
Introduced
04/15/2015
04/15/2015
In Committee
04/15/2015
04/15/2015
Crossed Over
Passed
Dead
07/31/2016
07/31/2016
Introduced Session
189th General Court
Bill Summary
For legislation relative to vacated foreclosed residential property. Financial Services.
AI Summary
This bill requires creditors, which are entities that are owed money, to put foreclosed residential properties back on the market for sale or lease within one year of the foreclosure. If a creditor fails to do so, they will lose ownership of the property, and it will be forfeited to the town or city where the property is located. This provision aims to address the issue of vacant foreclosed homes sitting empty for extended periods.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Accompanied a study order, see S2318 (on 06/06/2016)
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/189/Senate/S554 |
| State Bill Page | https://malegislature.gov/Bills/189/S554 |
| Bill | https://malegislature.gov/Bills/189/S554.pdf |
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