Legislative Developments

The Rhode Island General Assembly has introduced a bill that would require any transfer of a promissory note to be accompanied by an assignment of the mortgage.

The General Assembly is considering amendments to the state’s law permitting title insurers to issue closing protection. Read on to find out more about these changes.

Interesting bills come across my desk all the time, including this one from Hawaii. The Hawaii legislature is considering a bill that would add a new section to the Commercial Code, providing for civil actions and administrative procedures to clear a title of a fraudulent lien or reinstate a valid lien on title.

The Illinois General Assembly is considering a bill that would amend the Mechanics Lien Act by providing that the act would not apply unless there is a written and executed contract to improve the lot or tract of land or for the purpose of improving the tract of land or to manage a structure under construction thereon. Read on for more details.

The Missouri General Assembly is considering a bill that would specify the order of preferences of liens and encumbrances on unit owners of a leasehold condominium. Read on for more details.

The California General Assembly is considering a bill that would amend the law regarding the termination of a title policy, specifically when the title is transferred to a revocable trust. Read on for more details.

The Ohio General Assembly is considering a bill that would amend the state’s mortgage satisfaction and subrogation laws. Read on to find out more.

The California General Assembly is considering a bill that would amend state law regarding notaries public. Read on to find out more details.

The Connecticut General Assembly is considering a bill that would address concerns regarding the difficulties of closing and scheduling the settlement of funds and potential violation of the attorney settlement agent’s ethical obligation not to commingle funds of different clients when wire transfers are delayed and the closing attorneys close in escrow.

The General Assembly of Rhode Island is considering a bill that would criminalize residential mortgage fraud. Read on for more details.