Illinois General Assembly - Bill Status for HB5437
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 Bill Status of HB5437  97th General Assembly

Short Description:  TITLE INS-MORTGAGE ASSUMPTION

House Sponsors
Rep. Pam Roth

Last Action
DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
215 ILCS 155/24.6 new


Synopsis As Introduced
Amends the Title Insurance Act. Provides that a corporation authorized to do business under the Act shall notify, in writing, the mortgagor and the third-party involved in a mortgage assumption transaction that when the mortgage is being assumed by the third-party and the third-party fails to pay the mortgage, the mortgagor may be responsible for the mortgage. Effective January 1, 2013.

Actions 
DateChamber Action
  2/9/2012HouseFiled with the Clerk by Rep. Pam Roth
  2/15/2012HouseFirst Reading
  2/15/2012HouseReferred to Rules Committee
  1/8/2013HouseSession Sine Die

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