Bill Summary

by Passidomo Co Sponsors: Caldwell, Cummings, Moraitis, Rodrigues (R) CS Sponsors: Judiciary Committee, Appropriations Committee

Mortgage Foreclosures: Revises limitations period for commencing action to enforce claim of deficiency judgment after foreclosure action; provides for applicability to actions commenced on or after specified date; provides time limitation for commencing certain actions; provides legislative intent; specifies required contents of complaint seeking to foreclose on certain types of residential properties with respect to authority of plaintiff to foreclose on note & location of note; authorizes sanctions against plaintiffs who fail to comply with complaint requirements; provides for nonapplicability to proceedings involving timeshare interests; requires court to treat collateral attack on final judgment of foreclosure on mortgage as claim for monetary damages; prohibits such court from granting certain relief affecting title to foreclosed property; provides for construction relating to rights of certain persons to seek specified types of relief or pursue claims against foreclosed property; limits amount of deficiency judgment; revises class of persons authorized to move for expedited foreclosure to include lienholders; defines "lienholder"; provides requirements & procedures with respect to order directed to defendants to show cause why final judgment of foreclosure should not be entered. Effective Date: upon becoming a law

   H Civil Justice Subcommittee
   H Justice Appropriations Subcommittee
   H Judiciary Committee
   H Appropriations Committee