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Bill would exempt lender actions from two‑year family‑transfer restriction
Summary
House Bill 520 would carve exceptions into the two‑year nonconveyance rule for family transfers so lenders can accept family‑transfer parcels as collateral and foreclose when necessary; banking groups and the Association of Counties supported the bill as a technical fix to SB158 consequences.
Representative Larry Brewster presented House Bill 520 to address an unintended consequence of a prior law (Senate Bill 158) that imposed a two‑year nonconveyance period on family‑transfer parcels. Brewster said the bill exempts foreclosure sales and enables lenders to take a family‑transfer parcel as collateral and…
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