CONDO-REVERSE MORTGAGE-FINANCE
Summary
Amends the Condominium Property Act. Provides that notwithstanding any provision in any condominium instrument or bylaw, a condominium association must not: impair or restrict a condominium unit owner from securing a reverse mortgage, so long as the reverse mortgage does not adversely affect the rights of an association to collect an assessment; prevent, impair, or restrict a unit owner from borrowing money on the unit by refusing to cooperate with a lender or any federal program; or levy a fee to process or to close on a reverse mortgage or other similar financing transaction.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2012
Committee Review
Floor Vote
Governor
Introduced Feb 7, 2012
Last action Jan 8, 2013
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
8
Key actions
0
Committee
5
Jan 8, 2013
Senate · Failed
Session Sine Die
Mar 30, 2012
Senate · Referred to committee
Rule 3-9(a) / Re-referred to Assignments
Mar 9, 2012
Senate · Reported by committee
Rule 2-10 Committee Deadline Established As March 30, 2012
Feb 28, 2012
Senate · Reported by committee
To Judiciary Subcommittee on Property and Environment
Feb 17, 2012
Senate · Referred to committee
Assigned to Judiciary
Feb 7, 2012
Senate · Referred to committee
Referred to Assignments
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Ira I. Silverstein
DDemocratic
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