HB 715 Deed of trust; allows title insurance companies authority settlement agents have to release lien.
Christopher K. Peace | all patrons    ...    notes
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Summary as introduced:
Releases of deed of trust.  Allows certain title insurance companies to exercise the authority that settlement agents currently possess to release the lien of a deed of trust. References to "mortgage" are replaced with "deed of trust." The measure also authorizes a settlement agent to release a deed of trust lien upon written confirmation from the lien creditor that such obligation has a zero balance. The procedure for lien releases by settlement agent and title insurance companies is limited to transactions involving real estate that is either unimproved with a lien amount not exceeding $1 million or containing one to four residential dwelling units. The measure also eliminates a duplicative provision addressing a settlement agent's ability to obtain an assignment of the $500 penalty imposed for a lender's failure to release a lien within the prescribed period.

Full text:
01/12/10  House: Prefiled and ordered printed; offered 01/13/10 10101555D  pdf
02/01/10  House: Printed as engrossed 10101555D-E  pdf
03/02/10  House: Bill text as passed House and Senate (HB715ER)  pdf
04/07/10  Governor: Acts of Assembly Chapter text (CHAP0236)  pdf

Amendments:
House amendments

Status:
01/12/10  House: Prefiled and ordered printed; offered 01/13/10 10101555D
01/12/10  House: Referred to Committee for Courts of Justice
01/19/10  House: Assigned Courts sub: Civil
01/25/10  House: Subcommittee recommends reporting with amendment(s) (10-Y 0-N)
01/27/10  House: Reported from Courts of Justice with amendment (22-Y 0-N)
01/29/10  House: Read first time
02/01/10  House: Read second time
02/01/10  House: Committee amendment agreed to
02/01/10  House: Engrossed by House as amended HB715E
02/01/10  House: Printed as engrossed 10101555D-E
02/02/10  House: Read third time and passed House BLOCK VOTE (97-Y 0-N)
02/02/10  House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N)
02/03/10  Senate: Constitutional reading dispensed
02/03/10  Senate: Referred to Committee for Courts of Justice
02/17/10  Senate: Assigned Courts sub: Civil
02/22/10  Senate: Reported from Courts of Justice (15-Y 0-N)
02/23/10  Senate: Constitutional reading dispensed (40-Y 0-N)
02/24/10  Senate: Read third time
02/24/10  Senate: Passed Senate (40-Y 0-N)
03/02/10  House: Enrolled
03/02/10  House: Bill text as passed House and Senate (HB715ER)
03/02/10  House: Signed by Speaker
03/03/10  Senate: Signed by President
04/07/10  Governor: Approved by Governor-Chapter 236 (effective 7/1/10)
04/07/10  Governor: Acts of Assembly Chapter text (CHAP0236)