Bill Text: HI HB1211 | 2018 | Regular Session | Introduced
Bill Title: Relating To Foreclosures.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2017-11-30 - Carried over to 2018 Regular Session. [HB1211 Detail]
Download: Hawaii-2018-HB1211-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1211 |
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TWENTY-NINTH LEGISLATURE, 2017 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to foreclosures.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 501-118, Hawaii Revised Statutes, is amended to read as follows:
"§501-118 Foreclosure. Mortgages of registered land may be foreclosed like mortgages of unregistered land.
In case of foreclosure by action, a certified copy of the final judgment of the court confirming the sale may be filed or recorded with the assistant registrar or the deputy after the time for appealing therefrom has expired and the purchaser shall thereupon be entitled to the entry of a new certificate.
In case of foreclosure by exercising the power
of sale without a previous judgment, the affidavit required by chapter 667
shall be recorded with the assistant registrar. The purchaser or the
purchaser's assigns at the foreclosure sale may thereupon at any time present
the deed under the power of sale to the assistant registrar for recording and
obtain a new certificate. Nothing in this chapter shall be construed to
prevent the mortgagor or other person in interest from directly impeaching by
action or otherwise, any foreclosure proceedings affecting registered land,
prior to the entry of a new certificate of title[.] or prior to entry
of a memorandum on an existing certificate of title.
After a new certificate of title has been entered, no judgment recovered on the mortgage note for any balance due thereon shall operate to open the foreclosure or affect the title to registered land."
SECTION 2. This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before its effective date.
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Foreclosures; Proceedings; Impeachment; Process
Description:
Provides that a mortgagor or other person in interest may impeach foreclosure proceedings prior to entry of a memorandum on an existing certificate of title.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
