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Committee hears bills to require timely recording of sheriff's deeds to protect homeowners' redemption rights
Summary
Representatives advanced discussion on HB 5045 and HB 5046 after testimony from county registers of deeds and the Real Property Law Section; bills would clarify that when a sheriff's deed is not recorded within 20 days the statutory redemption period and interest accrual begin on recording date.
The House Regulatory Reform Committee heard testimony on two bills, HB 5045 and HB 5046, aimed at closing a procedural loophole that can leave homeowners with little time to redeem foreclosed properties.
Rep. O'Neil told the committee the bills would close a gap in current practice in which deeds from sheriff's sales are not always recorded promptly, which can shorten the practical redemption period a homeowner believes the law guarantees. "Our bills state that the redemption period starts when the paperwork is actually recorded," Rep. O'Neil said, arguing the change will ensure homeowners receive the full…
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