Bill Summary
SB 1778 Redemption Rights and Deeds in Lieu of Foreclosure (2025 Session)
Redemption Rights and Deeds in Lieu of Foreclosure; Citing this act as the “Redemption Procedures Improvement Act”; providing that a defendant, a property owner, or a holder of a subordinate interest in real property may cure a defendant’s indebtedness to prevent the sale of such real property; providing that the right of redemption by an owner of real property subject to redemption is not waivable; authorizing the transfer of a lien claimed to encumber real or personal property by certain persons; prohibiting a mortgagee or its designee from acquiring interest, right to legal title, or right of possession to a mortgagee’s property, etc. Effective Date: 7/1/2025
02/28/25
SENATE
Filed
03/07/25
SENATE
Referred to Banking and Insurance; Judiciary; Rules
05/03/25
SENATE
Indefinitely postponed and withdrawn from consideration
No amendments to this bill text filed.
45.0315
45.0316
679.612
697.02
702.01
702.011
702.02
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