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Rep. Jehan Gordon-Booth
Filed: 5/17/2017
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| 1 | | AMENDMENT TO SENATE BILL 885
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 885 on page 8, line |
| 3 | | 17, after "notarized." by inserting "However, any provision in |
| 4 | | an installment sales contract that forbids the buyer to record |
| 5 | | the contract or a memorandum of the contract is void and |
| 6 | | unenforceable."; and
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| 7 | | on page 8, by replacing lines 24 and 25 with the following:
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| 8 | | "reason that may affect the ability of the seller to comply |
| 9 | | with the terms of the installment sales contract regarding the |
| 10 | | conveyance of marketable title to the buyer, the buyer has the |
| 11 | | option to"; and
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| 12 | | on page 9, by deleting lines 1 and 2; and
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| 13 | | on page 11, line 8, after "seller." by inserting "There shall |
| 14 | | be an exception for the application of insurance proceeds to |
| 15 | | the seller's mortgage balance when required by the terms of the |