HB 5437

  • Illinois House Bill
  • 97th Regular Session
  • Introduced in House
  • House
  • Senate
  • Governor

Title Ins-Mortgage Assumption

Abstract

Amends the Title Insurance Act. Provides that a corporation authorized to do business under the Act shall notify, in writing, the mortgagor and the third-party involved in a mortgage assumption transaction that when the mortgage is being assumed by the third-party and the third-party fails to pay the mortgage, the mortgagor may be responsible for the mortgage. Effective January 1, 2013.

Bill Sponsors (1)

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Jan 08, 2013

House

Session Sine Die

Feb 15, 2012

House

First Reading

House

Referred to Rules Committee

Feb 09, 2012

House

Filed with the Clerk by Rep. Pam Roth

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