92nd General Assembly
Summary of HB2392
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House Sponsors:
ERWIN-BROSNAHAN, HAMOS AND FEIGENHOLTZ.

Senate Sponsors:
RADOGNO-RONEN

Short description: 
CONVEYANCES-INDEX NUMBER                                                   

Synopsis of Bill as introduced:
        Amends the  Conveyances  Act.  Provides  that,  when  a  deed  or      
   instrument  of  conveyance  of  residential  property is executed in a      
   county with 3,000,000 or  more  inhabitants,  the  grantor  shall  (i)      
   provide  to  the  grantee a permanent index number that represents the      
   legal description in the deed or (ii) provide  proof  that  either  an      
   application  for division that will result in a permanent index number      
   has been filed with the county assessor, a  plat  of  subdivision  has      
   been  recorded,  or  a  condominium  declaration  has  been  recorded.      
   Provides  that  a  grantor's  failure  to  provide the permanent index      
   number does not invalidate an instrument, but  it  makes  the  grantor      
   personally  liable  for  property  taxes and attorney's fees until the      
   requirements are met. Effective immediately.                                
        SENATE AMENDMENT NO. 1.                                                
        Requires the grantor to provide: proof that a proper application       
   for division which requests division of property, a portion of which        
   would result in a permanent index number, has been filed with the           
   county assessor; a recorded plat of subdivision that would result in        
   the issuance of a permanent index number; or a recorded condominium         
   declaration that would result in the issuance of a permanent index          
   number. Also provides that, if the grantor fails to provide the             
   grantee with a permanent index number of one of those documents, the        
   grantor is liable to the grantee for property taxes and attorney's          
   fees and that the liability continues until the permanent index number      
   or document is delivered to the grantee. Provides that failure to           
   provide the permanent index number does not invalidate the deed or          
   instrument of conveyance. Provides that a receipt from the county           
   assessor confirming that a proper application has been filed shall be       
   deemed to be evidence of proper application for division.                   
 
Last action on Bill: PUBLIC ACT.............................. 92-0450

   Last action date: AUG-21-2001

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


   END OF INQUIRY 



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