ERWIN-BROSNAHAN, HAMOS AND FEIGENHOLTZ.
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
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1
END OF INQUIRY
Full Text Bill Status