HB6593: Act Protecting Mortgagor from Unreasonable Privacy Invasion by Mortgage Holder, Schemes and Mind Maps of Law

Download HB6593: Act Protecting Mortgagor from Unreasonable Privacy Invasion by Mortgage Holder and more Schemes and Mind Maps Law in PDF only on Docsity! House of Representatives HB6593 / File No. 477 1 General Assembly File No. 477 January Session, 2021 House Bill No. 6593 House of Representatives, April 15, 2021 The Committee on Judiciary reported through REP. STAFSTROM of the 129th Dist., Chairperson of the Committee on the part of the House, that the bill ought to pass. AN ACT PROTECTING A MORTGAGOR FROM AN UNREASONABLE INVASION OF HIS OR HER PRIVACY BY A MORTGAGE HOLDER. Be it enacted by the Senate and House of Representatives in General Assembly convened: Section 1. (NEW) (Effective October 1, 2021) (a) As used in this section: 1 (1) "Mortgage" means a mortgage deed, deed of trust or other 2 equivalent consensual security interest on residential real property 3 securing a loan made primarily for personal, family or household 4 purposes that is first in priority over any other mortgages or liens 5 encumbering the residential real property, except those liens that are 6 given priority over a mortgage pursuant to state or federal law; 7 (2) "Mortgagee" means the owner or servicer of the debt secured by a 8 mortgage; 9 (3) "Mortgagor" means the owner-occupant of residential real 10 property located in this state who is also the borrower under the loan 11 that is secured by a mortgage and includes the heirs or assigns of the 12 HB6593 File No. 477 HB6593 / File No. 477 2 mortgagor; and 13 (4) "Residential real property" means a one-to-four-family dwelling 14 occupied as a residence by a mortgagor. 15 (b) No property preservation clause set forth in any mortgage 16 permitting the mortgagee the right to secure, preserve or protect the 17 residential real property shall be construed as to permit the mortgagee, 18 or any agent, employee or representative of the mortgagee, to enter 19 upon the residential real property without the permission of the owner, 20 occupant or mortgagor or an order of the superior court for the judicial 21 district in which the property is situated. 22 (c) No mortgagee or any agent, employee or representative of the 23 mortgagee shall enter upon the residential real property secured by the 24 mortgage without the permission of the owner, occupant or mortgagor 25 or an order of the superior court for the judicial district in which the 26 property is situated. 27 (d) On and after October 1, 2021, no mortgagee shall require a 28 mortgagor, as a condition of obtaining a loan, to agree that a mortgagee, 29 or assignee of such mortgagee, has any right to enter the residential real 30 property secured by the mortgage without the permission of the owner, 31 occupant or mortgagor or an order of the superior court for the judicial 32 district in which the property is situated. 33 This act shall take effect as follows and shall amend the following sections: Section 1 October 1, 2021 New section JUD Joint Favorable