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2025 Regular Session
Overview
At the request of:
Chief Sponsors:
Regular Sponsors:
Bill Title: Relating to allowable claims of equity in a property that is subject to a reverse mortgage; declaring an emergency.
Catchline/Summary: Allows a lender that, in a reverse mortgage, provides a lump sum in exchange for a claim upon the equity of a property to claim as the lender's equity, and receive as proceeds in a sale of the property, not more than the percentage of the total equity in the property to which the lump sum is equivalent on the date the lender provides the lump sum.
Chapter Number:
Fiscal Impact: May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact:
Measure Analysis: Staff Measure Summary / Impact Statements
Current Location: In Senate Committee
Current Committee: Senate Committee On Housing and Development
Current Subcommittee:
Subsequent Referral(s):
Potential Conflicts of Interest/Vote Explanations: Potential Conflicts of Interest/Vote Explanation Documents
Measure History
Scheduled Events