Rep. Jehan Gordon-Booth

Filed: 5/17/2017





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2    AMENDMENT NO. ______. Amend Senate Bill 885 on page 8, line
317, after "notarized." by inserting "However, any provision in
4an installment sales contract that forbids the buyer to record
5the contract or a memorandum of the contract is void and
6unenforceable."; and
7on page 8, by replacing lines 24 and 25 with the following:
8"reason that may affect the ability of the seller to comply
9with the terms of the installment sales contract regarding the
10conveyance of marketable title to the buyer, the buyer has the
11option to"; and
12on page 9, by deleting lines 1 and 2; and
13on page 11, line 8, after "seller." by inserting "There shall
14be an exception for the application of insurance proceeds to
15the seller's mortgage balance when required by the terms of the



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1seller's mortgage, with a corresponding credit to the buyer for
2the amount payable due on the installment sales contract.".