REVISED

FACT SHEET FOR H.B. 2460

tax foreclosure sales; notice

Purpose

Stipulates that before a purchaser files a foreclosure action, the purchaser must send notice of intent to the property owner according to records of the county assessor in addition to the county recorder.

Background

According to current statute, a purchaser of property must send notice of the intent to file a foreclosure action to the property owner of record and the county treasurer before filing the action. The property owner of record is currently defined according to the records of the county recorder.

H.B. 2460 shifts the property owner of record to reference records as maintained by the county assessor as well as the county recorder.

There is no fiscal impact associated with this bill.

Provisions

1. Stipulates that before a purchaser files a foreclosure action, the purchaser must send notice of intent to the property owner according to records of the county assessor in addition to the county recorder.

2. Provides for a general effective date.

Amendments Adopted by Committee

1. Removes the reference to the county treasurer and reinserts the reference to the county recorder.

House Action Senate Action

Gov. Ref. 2/2/00 DPA 5-0-1 GES 3/6/00 DPA 8-0-1

3^rd Read 2/21/00 56-0-4

Prepared by Senate Staff

March 2, 2000