AN ACT (S. B. 456) (No ) (Approved August 5, 2016)
|
|
- Leo Murphy
- 5 years ago
- Views:
Transcription
1 (S. B. 456) (No ) (Approved August 5, 2016) AN ACT To amend the first paragraph of Section 12 of Act No. 21 of May 20, 1987, known as the Controlled Access Law, as amended, to establish the responsibility of involuntary acquirers regarding dues on account of maintenance fees and the operation of the controlled access system not paid by previous owners, and define that involuntary acquirers shall be mortgage lenders that acquire a real property when collecting their credit; amend the first paragraph of Section 41 of Act No. 104 of June 25, 1958, as amended, known as the Condominiums Act, to define that involuntary acquirers shall be mortgage lenders that acquire a real property when collecting their credit. STATEMENT OF MOTIVES Act No. 21 of May 20, 1987, as amended, known as the Controlled Access Law, allows the residents of a development or community to control vehicle and pedestrian access to their streets. Said Act provides for the creation of Homeowners Associations which would establish a monthly fee to be paid by all residents on account of maintenance fees and for the operation of the controlled access system. The obligation to pay said fees constitutes a lien over the property. The voluntary acquirer of a property located in a gated community in accordance with the Controlled Access Law is jointly responsible to the transferor for the payment of any sums owed by the latter. However, the Act fails to provide for the responsibility of involuntary acquirers to pay such dues.
2 2 As defined by the Supreme Court of Puerto Rico, the involuntary acquirer of a property is originally a creditor whose main interest is not to become the owner of a property but to protect his credit. Asoc. Condomines v. Naveira, 106 D.P.R. 88 (1977). In Asoc. Condomines, supra, the Supreme Court stated that: [the well-founded reason for this distinction between voluntary and involuntary acquirer lies on the different interests of one and the other. The voluntary purchaser is a person who, fully aware of the liens and encumbrances of the apartment, acquires it because it is a good deal. The involuntary acquirer is originally a creditor whose main interest is not to become the owner of the apartment but to protect his credit which has been generally constituted before the accrual of the debt for common expenses of the condominium. As for condominiums, Section 41 of Act No. 104 of June 25, 1958, as amended, known as the Condominiums Act, establishes that an involuntary acquirer shall only be responsible for debts arising from common expenses that have not been satisfied during the six (6)-month period preceding the time of acquisition of the property. As a result of the financial crisis that the Island has been undergoing for several years, the number of foreclosures has increased. According to statistics of the Office of the Commissioner of Financial Institutions (OCIF, Spanish acronym), foreclosures increased by 20% in 2012, that is 3,814, or 626 more than in OCIF has stated that, nearly 18,800 mortgages which amount to $2.8 billion were undergoing foreclosure in early After the foreclosure process, the banks foreclosed properties administrative units usually take care of most properties. Said units are in charge of promoting the sale of real property in order to satisfy the mortgage balance.
3 3 This Legislative Assembly is well aware that, on many occasions, homeowners associations collect from banks the total debt for unpaid maintenance fees accumulated by previous owners. Some homeowners associations understand that mortgage lenders are voluntary acquirers because they have acquired the property with their credit in the first auction as provided in Section 104 of Act No. 210 of December 8, 2015, known as the Commonwealth of Puerto Rico Real Property Registry Act. Banking institutions usually interpret it as them being involuntary acquirers of the properties acquired in a public auction, therefore, they should only respond for the fees that accumulate from the time they acquire the property subject to the Controlled Access Law, or during six (6)-month period preceding the acquisition thereof, and any current balance in the case of apartments subject to the Condominiums Act. They argue that they do not act as bidders or conventional buyers, but rather as financial entities that, in seeking to protect their credit, make a credit bid to obtain the property object of the auction, and thus recover their investment. Given the differences in the aforementioned legal interpretation, and the context within which a large number of foreclosures have been carried out in the past years, mortgage lenders have been facing many claims from homeowners associations requiring full payment of debts related to unpaid maintenance fees, which sometimes represent several thousands of dollars. It is worth noting that banks have no knowledge whatsoever regarding debts accumulated on account of unpaid homeowners association fees. Banks usually learn of such debt when they obtain a debt certification from homeowners associations shortly before the sale of the property to a third party. Disputes regarding the debt claimed by homeowners associations frequently affect the lenders efforts to sell foreclosed properties to third parties, and recover the debt secured by a mortgage.
4 4 This Legislative Assembly deems it necessary to clarify that involuntary acquirers shall be the mortgage lenders that, in order to protect their credit, acquire a property as part of a foreclosure process. Furthermore, this Legislative Assembly deems it appropriate to do justice to homeowners associations in housing developments subject to the Controlled Access Law. Through this Act, the provisions of the Controlled Access Law are conformed to those of the Condominiums Act regarding the collection of fees from involuntary acquirers, that is, the right of homeowners associations to collect maintenance fees accumulated during the six (6)-month period preceding the acquisition of the property by the bank, as well as any current balance that may have accumulated after the acquisition thereof. BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF PUERTO RICO: Section 1.- The first paragraph of Section 12 of Act No. 21 of May 20, 1987, as amended, is hereby amended to read as follows: Section 12.- Joint Liability of Voluntary and Involuntary Acquirers.- The obligation of the owner of a property for his proportional share of the expenses indicated in Section 10 of this Act shall constitute a lien on said property when it was constituted pursuant to Section 8 of this Act. Therefore, the voluntary acquirer of the property thus encumbered shall be jointly liable to the transferor for the payment of the sums he owes pursuant to Section 10 of this Act until the time of the transfer, without prejudice to the acquirer s right to claim restitution against the other grantor for the amounts he has paid as joint debtor. The involuntary acquirer of a real property subject to this Act shall be responsible only for debts arising from the expenses set forth in Section 10 that have not been satisfied during the six (6)-month period preceding the time of acquisition of the property, as well as for any balance that may have accumulated from the acquisition of said property by the involuntary acquirer, which balance shall be paid on monthly installments or
5 5 within the term provided by the Homeowners Council, Board or Association. For purposes of the above provisions, an involuntary acquirer shall be a mortgage lender that acquires a real property when collecting a debt subject to this Act. Section 2.- The first paragraph of Section 41 of Act No. 104 of June 25, 1958, as amended, known as the Condominiums Act, is hereby amended to read as follows: Section 41.- Obligation of Owner for Common Expenses, Lien.- The obligation for the proportional share of the common expenses of the owner of a unit shall constitute a lien on said unit, once the same is entered in the Property Registry. Therefore, after the first sale, the voluntary acquirer of a unit shall be jointly responsible with the transferor for the payment of the owed amounts, pursuant to Section 39 of this Act, until the time of the transfer, without prejudice to the right of the acquirer to recover from the other transferor those amounts paid as a joint debtor. However, an involuntary acquirer shall only be responsible for debts arising from common expenses that have not been satisfied during the six (6)-month period preceding the time of acquisition of the real property, as well as for any balance that may have accumulated from the acquisition of said property by the involuntary acquirer. For purposes of the above provisions, an involuntary acquirer shall be a mortgage lender that acquires a real property when collecting a debt subject to this Act; such balance shall be paid on monthly installments or within the term provided by the Homeowners Council. Section 3.- This Act shall take effect immediately after its approval.
6 6 CERTIFICATION I hereby certify to the Secretary of State that the following Act No (S. B. 456) of the 7 th Regular Session of the 17 th Legislative Assembly of Puerto Rico: AN ACT to amend the first paragraph of Section 12 of Act No. 21 of May 20, 1987, known as the Controlled Access Law, as amended, to establish the responsibility of involuntary acquirers regarding dues on account of maintenance fees and the operation of the controlled access system not paid by previous owners, define that involuntary acquirers shall be mortgage lenders that acquire a real property when collecting a debt; amend the first paragraph of Section 41 of Act No. 104 of June 25, 1958, as amended, known as the Condominiums Act, to define that involuntary acquirers shall be mortgage lenders that acquire a real property when collecting a debt. has been translated from Spanish to English and that the English version is correct. In San Juan, Puerto Rico, on this 22 nd day of November, Juan Luis Martínez Martínez Director
(No ) (Approved January 17, 2012) AN ACT
(H. B. 3657) (No. 22-2012) (Approved January 17, 2012) AN ACT To establish the Act to Promote the Relocation of Individual Investors to Puerto Rico, in order to provide a tax credit for the investment
More informationAN ACT. (S. B. 1522) (No ) (Approved February 1, 2016)
(S. B. 1522) (No. 1-2016) (Approved February 1, 2016) AN ACT To amend Sections 4010.01 and 4110.01 of Act No. 1-2011, as amended, known as the Puerto Rico Internal Revenue Code of 2011, in order to clarify
More information(Approved September 18, 2011) AN ACT
(S. B. 1352) (Conference) (No. 196-2011) (Approved September 18, 2011) AN ACT To amend Section 2-119; amend subparagraphs (3), (7), and (8) of paragraph (a) of subsection (1); and amend subparagraph (3)
More information(No ) AN ACT STATEMENT OF MOTIVES
(H. B. 3034) (Conference) To (No. 98-2011) Approved June 20, 2011 AN ACT amend Sections 61.140 and 61.240, add Section 61.241, and amend Section 61.260 of Act No. 77 of June 19, 1957, as amended, better
More information(No. 404) (Approved September 22, 2004) AN ACT
(H. B. 4794) (No. 404) (Approved September 22, 2004) AN ACT To add clause (11) to subsection (a) and amend clauses (1), (2) and (3) of subsection (b) of Section 1165 of Act No. 120 of October 31, 1994,
More informationAN ACT STATEMENT OF MOTIVES
(H. B. 3139) (Conference) (No. 270) (Approved December 14, 2006) AN ACT To amend subsections (a), (b), (c), (d), (e), and (f) of Section 1014A, and to amend subsections (a), (b), (c), (d), (e), and (f)
More information(No. 18) (Approved May 22, 2009) AN ACT
(H. B. 1642) (No. 18) (Approved May 22, 2009) AN ACT To amend Sections 2, 3, 4, and 5 of Act No. 91 of May 13, 2006, as amended, known as the Dedicated Sales Tax Fund Act, in order to make various technical
More information(No ) (Approved June 25, 2013) AN ACT
(H. B. 1277) (No. 31-2013) (Approved June 25, 2013) AN ACT To amend subsection (a)(1) of Section 3020.06 of Act No. 1-2011, as amended, known as the Internal Revenue Code for a New Puerto Rico, in order
More information(No ) (Approved January 24, 2014) AN ACT
(House Substitute for H. B. 1593) (No. 19-2014) (Approved January 24, 2014) AN ACT To create the Municipal Finance Corporation Act ; authorize the creation of a public corporation and instrumentality of
More information(No. 222) (Approved October 3, 2006) AN ACT
(H.B. 1821) (No. 222) (Approved October 3, 2006) AN ACT To amend subsection (b) of Section 5.01 of Act No. 83 of August 30, 1991, as amended, known as the Municipal Property Tax Act, in order to exclude
More information(No ) (Approved December 20, 2012) AN ACT
(H. B. 4061) (No. 302-2012) (Approved December 20, 2012) AN ACT To amend Section 1051.06 and add Section 1051.10 to Act No. 1-2011, as amended, known as the Internal Revenue Code for a New Puerto Rico,
More information(No. 33) (Approved May 31, 2001) AN ACT
(S. B. 291) (No. 33) (Approved May 31, 2001) AN ACT To amend subsections (c) and (d) of Section 2 and line 1 of Section 12 of Act No. 44 of January 27, 2000, known as the Early Retirement Program for Teachers
More information(No ) (Approved January 24, 2014) AN ACT
(House Substitute for H. B. 1591) (No. 18-2014) (Approved January 24, 2014) AN ACT To create the Municipal Administration Fund Act ; establish a special fund to be known as the Municipal Administration
More information(No. 163) (Approved August 10, 2002) AN ACT
(H.B. 2261) (No. 163) (Approved August 10, 2002) AN ACT To amend the Statement of Motives, Sections 4, 5, 9 and 20, and to add a subsection (y) to Section 3 to Act No. 114 of August 17, 2001, known as
More information(No. 80) (Approved July 29, 2007) AN ACT
(H. B. 3190) (Conference) (No. 80) (Approved July 29, 2007) AN ACT To add subsections (e), (f), (g) and (h) to Section 2706; add Section 2707, 2708 and 2709; amend Section 6189; and to repeal Section 6189A
More informationAN ACT (H. B. 1785) (No ) (Approved December 16, 2014)
(H. B. 1785) (No. 217-2014) (Approved December 16, 2014) AN ACT To create the Vending Machine Electronic Registry attached to the Permit Management Office; provide for the powers and duties of the Permit
More informationAN ACT. (H. B. 1182) (No ) (Approved July 5, 2013)
(H. B. 1182) (No. 54-2013) (Approved July 5, 2013) AN ACT To amend subsections (b) and (f) of Section 1.3; amend Section 4.2; add a subsection (f) to Section 4.4; amend subsection (d) of Section 4.6; add
More information(No ) (Approved July 6, 2011) AN ACT
(H. B. 2855) (Conference) (No. 116-2011) (Approved July 6, 2011) AN ACT To amend Section 1-105 in order to include temporary employees as members of the System; amend Section 2-116 to increase employer
More information(No. 56) (Approved July 5, 2007) AN ACT
(H. B. 3660) (No. 56) (Approved July 5, 2007) AN ACT To add a new Section 2, amend and renumber Section 2 as Section 3, renumber Section 3 as Section 4, amend and renumber Section 4 as Section 5, renumber
More information(No. 1) (Approved January 14, 2009) AN ACT
(H. B. 598) (No. 1) (Approved January 14, 2009) AN ACT To amend Sections 2, 3, 4, and 5 of Act No. 91 of May 13, 2006, as amended, known as the Dedicated Sales Tax Fund Act, in order to increase the amount
More information(No ) (Approved July 29, 2016) AN ACT
(S. B. 1551) (No. 92-2016) (Approved July 29, 2016) AN ACT To amend Section 7.3 of Act No. 27-2011, as amended, known as the Puerto Rico Film Industry Economic Incentives Act, in order to broaden the use
More information(No. 169) (Approved November 21, 2007) AN ACT
(H. B. 3011) (No. 169) (Approved November 21, 2007) AN ACT To amend Section 14 of Act No. 55 of May 12, 1933, as amended, known as the Banking Law, to renumber Section 14 to provide for a Section 14(a)
More information(No. 400) (Approved September 22, 2004) AN ACT
(H. B. 4723) (No. 400) (Approved September 22, 2004) AN ACT To amend Act No. 121 * of October 31, 1994, as amended, known as the Puerto Rico Internal Revenue Code of 1994, to incorporate the tax exemptions
More informationAN ACT. (H. B. 2973) (Conference) (No ) (Approved December 28, 2010)
(H. B. 2973) (Conference) (No. 220-2010) (Approved December 28, 2010) AN ACT To amend Articles 9.040, 9.060, 9.061, 9.070, 9.140, 9.14, 9.160, 9.170, 9.200, and 9.420, and repeal Article 9.390 of Act No.
More informationAN ACT (H. B. 2834) (No ) (Approved November 1, 2010)
(H. B. 2834) (No. 161-2010) (Approved November 1, 2010) AN ACT To amend subsection (a), repeal subsection (g), rename subsections (h) through (s) as subsections (g) through (r), respectively, and amend
More information(No ) (Approved July 5, 2011) AN ACT
(H. B. 2874) (No. 114-2011) (Approved July 5, 2011) AN ACT To amend Sections 7, 8, 12, 14, 16, 20, 27, 40, 43, 47, and 51 of Act No. 91 of March 29, 2004, as amended, known as the Commonwealth of Puerto
More informationNo Approved July 7, 2002 AN ACT
(S. B. 1574) (Conference) No. 104 Approved July 7, 2002 AN ACT To add a new Chapter 30 to Act No. 77 of June 19, 1957, as amended, known as the Insurance Code of Puerto Rico, to fix terms for insurers
More information(No. 62) (Approved January 4, 2003) AN ACT
(H. B. 1818) (Conference) (No. 62) (Approved January 4, 2003) AN ACT To amend Act No. 143 of October 4, 2001, to add a new Section 2 exempting financial institutions from revenue tax concerning interest,
More information(No. 207) (Approved September 27, 2006) AN ACT
(H.B. 2223) (No. 207) (Approved September 27, 2006) AN ACT To prohibit all employers of private enterprises and of the public corporations of the Commonwealth of Puerto Rico from using the Social Security
More informationOFFICE OF THE COMMISSIONER OF INSURANCE SAN JUAN, PUERTO RICO TABLE OF CONTENTS. 1 Legal Basis Purpose Definitions...
No. 4857 Date: December 29, 1992 4:41 p.m. Salvador M. Padilla, PhD Approved Secretary of State By: (Signed) Assistant Secretary of State OFFICE OF THE COMMISSIONER OF INSURANCE SAN JUAN, PUERTO RICO TABLE
More informationLaw for Mortgage on Immovable Property in Banking Transactions
Law for Mortgage on Immovable Property in Banking Transactions Necessity of Creation of Law Article one: Chapter 1 General Principals This Law is created to regulate business and banking transactions that
More informationDear Members of the Joint Editorial Board for Uniform Real Property Acts:
October 31, 2013 Joint Editorial Board (JEB) for Uniform Real Property Acts c/o R. Wilson Freyermuth, Executive Director University of Missouri School of Law 215 Hulston Hall Columbia, MO 65211 Transmitted
More informationCommonwealth of Puerto Rico OFFICE OF THE COMMISSIONER OF INSURANCE Guaynabo, Puerto Rico
Commonwealth of Puerto Rico OFFICE OF THE COMMISSIONER OF INSURANCE Guaynabo, Puerto Rico Number: 8387 Date: September 23, 2013 Approved: Hon. David E. Bernier-Rivera Secretary of State By: Francisco J.
More informationGovernment of Puerto Rico OFFICE OF THE COMMISSIONER OF INSURANCE. Guaynabo, Puerto Rico. RULE No. 80
Government of Puerto Rico OFFICE OF THE COMMISSIONER OF INSURANCE Guaynabo, Puerto Rico RULE No. 80 STANDARDS FOR THE REGULATION OF THE OPERATIONS OF INTERNATIONAL INSURERS AND REINSURERS SECTION 1. LEGAL
More informationRetail Collateral Mortgage
Page 1 Retail Collateral Mortgage Form 15.1 Land Titles Act, S.N.B. 1981, c.l-1.1, s.25 Standard Forms of Conveyances Act, S.N.B. 1980, c.s-12.2, s.2 Parcel Identifier: Mortgagor: PID name address AND
More informationASSEMBLY, No STATE OF NEW JERSEY. 217th LEGISLATURE INTRODUCED FEBRUARY 22, 2016
ASSEMBLY, No. STATE OF NEW JERSEY th LEGISLATURE INTRODUCED FEBRUARY, 0 Sponsored by: Assemblyman PATRICK J. DIEGNAN, JR. District (Middlesex) Assemblyman JERRY GREEN District (Middlesex, Somerset and
More informationTo all Interval Owners:
To all Interval Owners: In September and October of 2010, the Massachusetts legislature and Governor Patrick approved major changes to Chapter 183B of the Massachusetts General Laws which substantially
More informationSeptember 21, Re: Notice of Secured Party Sale to be held October 13, Secured Party Seller: M2 Gold Jets, LLC (the Lender )
September 21, 2016 VIA FEDERAL EXPRESS, EMAIL OR MAIL AS PER SERVICE LIST To the Attached Service List: Re: Notice of Secured Party Sale to be held October 13, 2016 Secured Party Seller: M2 Gold Jets,
More informationSENATE, No STATE OF NEW JERSEY. 218th LEGISLATURE INTRODUCED JANUARY 25, 2018
SENATE, No. STATE OF NEW JERSEY th LEGISLATURE INTRODUCED JANUARY, 0 Sponsored by: Senator RONALD L. RICE District (Essex) Senator TROY SINGLETON District (Burlington) SYNOPSIS Codifies the Judiciary's
More information(Federal Intermediated Securities Act, FISA) of 3 October 2008 (Status as of 1 January 2010)
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force. Federal Act on Intermediated Securities (Federal Intermediated
More informationCHAPTER 244 FORECLOSURE AND REDEMPTION OF MORTGAGES*
CHAPTER 244 FORECLOSURE AND REDEMPTION OF MORTGAGES* *selected sections relating to foreclosures by sale Section 1 Foreclosure by entry or action; continued possession Section 1. A mortgagee may, after
More informationAssignment 4 Judicial Foreclosure and Sale (Mortgage Law) Credit Bidding. Problem 4.1. Judicial (Traditional) Foreclosure
Assignment 4 Judicial Foreclosure and Sale (Mortgage Law) Judicial (Traditional) Foreclosure Public auction, conducted by sheriff (or other official) Sale as is, for cash, following publication of legal
More information(No ) (Approved January 11, 2017) AN ACT
(S. B. 2) (No. 1-2017) (Approved January 11, 2017) AN ACT To amend Section 2 by adding new subsections (a) and (u) and renumber all other subsections; amend the first paragraph of Section 3; add a paragraph
More informationGENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2005 S 3 SENATE BILL 1283 Second Edition Engrossed 6/1/06 House Committee Substitute Favorable 6/22/06
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 00 S SENATE BILL Second Edition Engrossed //0 House Committee Substitute Favorable //0 Short Title: Franchise Tax Base Calculation. Sponsors: Referred to: May,
More information(No. 24) (Approved April 11, 2001) AN ACT
(H.B. 745) (No. 24) (Approved April 11, 2001) AN ACT To amend subsection (a), add a new subsection (b), redesignate subsections (b), (c), (d), and (e) as subsections (c), (d), (e), and (f), respectively,
More informationSERABRISA MAINTENANCE CORPORATION ASSESSMENT COLLECTION POLICY January 1, 2009
ASSESSMENT COLLECTION POLICY January 1, 2009 Prompt payment of Assessments by all owners is critical to the financial health of the Association, and to the enhancement of the property values of our homes.
More informationTHE COAST HOMEOWNERS ASSOCIATION COLLECTION PROCEDURES & POLICIES For Collection of Delinquent Assessments
THE COAST HOMEOWNERS ASSOCIATION COLLECTION PROCEDURES & POLICIES For Collection of Delinquent Assessments PROCEDURES: Regular Assessments are due on the first (1st) day of each month (the due date ) and
More informationFINANCING THE LOAN/MORTGAGE SEQUENCE
THE LOAN/MORTGAGE SEQUENCE FINANCING 1. Buyer applies to lender - Savings Associations, Mutual Savings Banks, Cooperative Banks, Commercial Banks (the Thrifts); Mortgage Companies, Credit Unions, Life
More informationRule Chapter 13 Payments. Commencement of Payments.
Rule 3070-1. Chapter 13 Payments. (A) Commencement of Payments. (1) Deadline to Commence. Payments to the chapter 13 trustee pursuant to the proposed plan, as may be amended, shall commence not later than
More informationVolume 2238, Article 1. Definitions
[TRANSLATION - TRADUCTION] AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF PARAGUAY AND THE GOVERNMENT OF THE REPUBLIC OF CUBA ON THE PROMOTION AND RECIPROCAL PROTECTION OF INVEST- MENTS The Government
More informationHOME EQUITY LENDING Constitutional Requirements for a Texas Home Equity Loan
HOME EQUITY LENDING Constitutional Requirements for a Texas Home Equity Loan 1) The home equity loan is voluntary (applicant is not required to obtain a Home Equity loan) and the Home Equity lien is created
More informationTWELVE PICKET LANE HOMEOWNERS ASSOCIATION ASSESSMENT COLLECTION POLICY January 1, 2006
ASSESSMENT COLLECTION POLICY January 1, 2006 Prompt payment of Assessments by all owners is critical to the financial health of the Association, and to the enhancement of the property values of our homes.
More informationTHE BANK OF NOVA SCOTIA, a Canadian chartered bank, having a branch office and postal address at
LAND TITLE ACT FORM B (Section 225) Province of British Columbia MORTGAGE PART 1 (This area for Land Title Office use) Page 1 of pages 1. APPLICATION: (Name, address, phone number and signature of applicant,
More informationDEEDS IN LIEU OF FORECLOSURE. Steven R. Davidson and John M. Nolan
DEEDS IN LIEU OF FORECLOSURE Steven R. Davidson and John M. Nolan When the Lender and the Borrower have concluded that a loan modification is not going to work and that it is time for the Borrower to relinquish
More informationtranslation BURGAN BANK Consumer Loan Contract (Variable Interest Rate)
translation P1794AA7GA BURGAN BANK Consumer Loan Contract (Variable Interest Rate) Customer s file number at the Bank: On. the this contract was made between: 1- Burgan Bank KSC Whose address is at P.
More informationCHICAGO TITLE INSURANCE COMPANY
CHICAGO TITLE INSURANCE COMPANY TITLE INSURANCE RATES AND CHARGES FOR THE STATE OF WASHINGTON EFFECTIVE: June 19, 2013 (Unless Otherwise Noted Herein) RATING SCHEDULE This Schedule of rates shall apply
More informationNORTH DAKOTA HOUSING FINANCE AGENCY BISMARCK, NORTH DAKOTA AUDITED FINANCIAL STATEMENTS FOR THE YEARS ENDED JUNE 30, 2017 AND 2016
BISMARCK, NORTH DAKOTA AUDITED FINANCIAL STATEMENTS FOR THE YEARS ENDED Table of Contents INDEPENDENT AUDITOR S REPORT 1 MANAGEMENT S DISCUSSION AND ANALYSIS 4 FINANCIAL STATEMENTS Statements of Net Position
More informationASSEMBLY, No STATE OF NEW JERSEY. 211th LEGISLATURE INTRODUCED JANUARY 10, 2005
ASSEMBLY, No. STATE OF NEW JERSEY th LEGISLATURE INTRODUCED JANUARY 0, 00 Sponsored by: Assemblyman NEIL M. COHEN District 0 (Union) Assemblyman CHRISTOPHER "KIP" BATEMAN District (Morris and Somerset)
More informationTHIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. SHORT SALE ADDENDUM
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 The printed portions of this form, except differentiated additions,
More informationCOMMONWEALTH OF PUERTO RICO OFFICE OF THE COMMISSIONER OF INSURANCE
COMMONWEALTH OF PUERTO RICO OFFICE OF THE COMMISSIONER OF INSURANCE August 28, 2006 RULING LETTER: N-A-8-76-2006 TO ALL DOMESTIC INSURERS, BROKERS, AGENTS, GENERAL AGENTS, ADJUSTERS, CONSULTANTS AND SOLICITORS
More informationCase: LTS Doc#:2545 Filed:02/19/18 Entered:02/19/18 14:33:10 Document Page 1 of 11
Document Page 1 of 11 UNITED STATES DISTRICT COURT DISTRICT OF PUERTO RICO -------------------------------------------------------------x In re: THE FINANCIAL OVERSIGHT AND MANAGEMENT BOARD FOR PUERTO
More informationCHICAGO TITLE INSURANCE COMPANY
CHICAGO TITLE INSURANCE COMPANY SCHEDULE OF TITLE INSURANCE PREMIUMS AND CHARGES FOR USE IN THE STATE OF INDIANA EFFECTIVE: February 8, 2017 (Unless Otherwise Specified Herein) Table of Contents I. BASIC
More informationCOMMONWEALTH OF PUERTO RICO FAQs FOR BAR DATE NOTICE
COMMONWEALTH OF PUERTO RICO FAQs FOR BAR DATE NOTICE Background The Debtors in these Title III Cases and Petition Dates Title III Debtor Federal Tax ID No. Case No. Petition Date Commonwealth of Puerto
More informationTHIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. SHORT SALE ADDENDUM
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 The printed portions of this form, except differentiated additions,
More informationMaking Money in BK. Law Offices of Michael A. Hearn FRIDAY 9:00-11:00 AM. CCAMs must sign the session roster to receive CEUs. ABOUT THE SPEAKERS
Making Money in BK Sometimes the biggest mistakes an association can make in the face of a bankruptcy is to write it off! Bankruptcy is rarely an entirely bad debt. Learn what you need to know in order
More information[Space Above This Line For Recording Data] DEED OF TRUST. 601 S. Belvidere Street, Richmond, Virginia 23220
Return To: Tax Map Reference #: RPC/Parcel ID #: Prepared by: Commonwealth of Virginia [Space Above This Line For Recording Data] DEED OF TRUST FHA Case No. 5416273480 THIS DEED OF TRUST ("Security Instrument")
More informationUNITED STATES BANKRUPTCY COURT DISTRICT OF RHODE ISLAND FOURTH AMENDED LOSS MITIGATION PROGRAM AND PROCEDURES I. PURPOSE
APPENDIX IX (Rev. 2/14/11) UNITED STATES BANKRUPTCY COURT DISTRICT OF RHODE ISLAND FOURTH AMENDED LOSS MITIGATION PROGRAM AND PROCEDURES I. PURPOSE The Loss Mitigation Program (LMP) is designed to function
More information(Federal Intermediated Securities Act, FISA) of 3 October 2008 (Status as of 1 January 2016) Purpose, Scope and Definitions
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force. Federal Act on Intermediated Securities (Federal Intermediated
More informationADJUSTABLE RATE HOME EQUITY CONVERSION SECOND DEED OF TRUST
Record and Return to: ReverseVision Inc. This instrument prepared by: ReverseVision Inc. 343 E. Six Forks Rd., Suite 340 Raleigh, NC 27609 343 E. Six Forks Rd., Suite 340 Raleigh, NC 27609 [Space Above
More informationUNITED STATES DISTRICT COURT FOR THE DISTRICT OF PUERTO RICO NOTICE OF DEADLINES FOR FILING PROOFS OF CLAIM
UNITED STATES DISTRICT COURT FOR THE DISTRICT OF PUERTO RICO In re: THE FINANCIAL OVERSIGHT AND MANAGEMENT BOARD FOR PUERTO RICO, as representative of THE COMMONWEALTH OF PUERTO RICO, et al. Debrs. PROMESA
More informationChapter 4 Summary Real Estate Financing Principles: Real Estate Finance 1
The money to finance loans comes from a number of sources. The primary mortgage market is made up of lenders who originate loans. They make the money available directly to borrowers. The primary mortgage
More informationSCHEDULE OF FEES AND CHARGES FOR POLICIES OF TITLE INSURANCE OF OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY FOR THE STATE OF WASHINGTON
SCHEDULE OF FEES AND CHARGES FOR POLICIES OF TITLE INSURANCE OF OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY Effective May 8, 2017 TABLE OF CONTENTS Section 1 General Rules Paragraph Owners Insurance
More informationFORBEARANCE AGREEMENT
EXECUTION VERSION FORBEARANCE AGREEMENT THIS FORBEARANCE AGREEMENT, dated as of August 14, 2014 (this Agreement ), is entered into by and between PUERTO RICO ELECTRIC POWER AUTHORITY (the Company ) and
More informationSTANDARD MORTGAGE TERMS Filed by MCAP Service Corporation Document Filing Number: MT Filing Date: July 17, 1998
STANDARD MORTGAGE TERMS Filed by MCAP Service Corporation Document Filing Number: MT980017 Filing Date: July 17, 1998 These mortgage terms are considered to be included in and form part of every mortgage
More information12 USC 1735f-7a. NB: This unofficial compilation of the U.S. Code is current as of Jan. 4, 2012 (see
TITLE 12 - BANKS AND BANKING CHAPTER 13 - NATIONAL HOUSING SUBCHAPTER V - MISCELLANEOUS 1735f 7a. State constitution or laws limiting mortgage interest, discount points, and finance or other charges; exemption
More informationADJUSTABLE RATE HOME EQUITY CONVERSION DEED OF TRUST
Record and Return to: ReverseVision Inc. Prepared By: ReverseVision Inc. 343 E. Six Forks Rd., Suite 340 Raleigh, NC 27609 343 E. Six Forks Rd., Suite 340 Raleigh, NC 27609 [Space Above This Line For Recording
More informationCollateral Mortgage NEWFOUNDLAND. Page 1. FREEHOLD LEASEHOLD (check one box) This mortgage is made on BETWEEN: (the mortgagor or mortgagors), AND
Page 1 NEWFOUNDLAND Collateral Mortgage FREEHOLD LEASEHOLD (check one box) This mortgage is made on BETWEEN: (the mortgagor or mortgagors), AND THE BANK OF NOVA SCOTIA (the mortgagee). In this mortgage
More informationScotiaLine (Unsecured)
ScotiaLine (Unsecured) ScotiaLine is a line of credit of Scotiabank de Puerto Rico. 1) Definitions The following words, when used in this agreement with an uppercase initial, shall have the meanings set
More informationKAYSVILLE PHEASANTBROOK HOMEOWNERS ASSOCIATION INC. Resolution of The Board of Directors COLLECTION OF UNPAID CHARGES
KAYSVILLE PHEASANTBROOK HOMEOWNERS ASSOCIATION INC. Resolution of The Board of Directors COLLECTION OF UNPAID CHARGES WHEREAS, Declaration is the Amended and Restated Declaration of Protective Covenants,
More informationPROMISSORY NOTE. Bellingham Resale Restricted Downpayment
PROMISSORY NOTE Bellingham Resale Restricted Downpayment Today s Date: At, Washington Property Address:, 1. Borrower s Promise to Pay In return for a loan received, I promise to pay to the order of the
More informationASSEMBLY, No STATE OF NEW JERSEY. 218th LEGISLATURE INTRODUCED MARCH 5, SYNOPSIS Establishes the "Mortgage Assistance Pilot Program.
ASSEMBLY, No. 0 STATE OF NEW JERSEY th LEGISLATURE INTRODUCED MARCH, 0 Sponsored by: Assemblywoman CAROL A. MURPHY District (Burlington) Assemblyman WAYNE P. DEANGELO District (Mercer and Middlesex) Co-Sponsored
More information«f80» «f81» «f82», «f83» LENDER SERVICING AGREEMENT
.. The fields in this document are filled in by Mortgage+Care Loan Origination Software. Please contact us at (800)481-2708 or www.mortcare.com for a list of mergeable documents. «f80» «f81» «f82», «f83»
More informationA Bill Regular Session, 2019 HOUSE BILL 1611
Stricken language would be deleted from and underlined language would be added to present law. 0 0 0 State of Arkansas nd General Assembly A Bill Regular Session, 0 HOUSE BILL By: Representative Maddox
More informationCROATIAN PARLIAMENT. Pursuant to Article 88 of the Constitution of the Republic of Croatia, I hereby issue the DECISION
CROATIAN PARLIAMENT 3173 Pursuant to Article 88 of the Constitution of the Republic of Croatia, I hereby issue the DECISION PROMULGATING THE ACT ON THE TAKEOVER OF JOINT STOCK COMPANIES I hereby promulgate
More informationInformation & Instructions: Demand letter opportunity to cure and intent to accelerate the note
Information & Instructions: Demand letter opportunity to cure and intent to accelerate the note 1. The demand letter in the form that follows is used to advise the debtor that he or she is delinquent in
More informationBank finance and regulation. Multi-jurisdictional survey. Malta. Enforcement of security interests in banking transactions.
Bank finance and regulation Multi-jurisdictional survey Malta Enforcement of security interests in banking transactions Leonard Bonello Ganado & Associates Advocates lbonello@jmganado.com Part I - types
More information(a) You, , covenant with us:
Page 1 SASKATCHEWAN Collateral Mortgage 1 (a) You,, as mortgagor, being registered as owner(s) of an estate in fee simple in that piece of land described under the heading DESCRIPTION OF PROPERTY COVERED,
More informationChapter 14 Real Estate Financing: Principles
Chapter 14 Real Estate Financing: Principles OUTLINE: I. Mortgage Law A. A mortgage is a voluntary lien on real estate, given by the mortgagor to secure the payment of a debt or the performance of an obligation
More informationMORTGAGE OF LAND LAND TITLES ACT
Page 1 MORTGAGE OF LAND LAND TITLES ACT MORTGAGOR(S): Joint Tenants Tenants in Common (attach additional page(s) if space insufficient) RETAIL COLLATERAL MORTGAGE Fee Simple Title Leasehold Title Name:
More information2. Riverwalk Affordable Mortgage Program (RAMP) Loan Brochure
2. Riverwalk Affordable Mortgage Program (RAMP) Loan Brochure Summary Description The RAMP loan is a secured, nonamortizing mortgage loan. No current interest or principal payments are required during
More informationHOME EQUITY LINE OF CREDIT/CLOSED-END MORTGAGE COST PROGRAM. Program special for loans approved from October 1, 2017 November 30, 2017.
HOME EQUITY LINE OF CREDIT/CLOSED-END MORTGAGE COST PROGRAM Program special for loans approved from October 1, 2017 November 30, 2017. U.S. Postal Service Federal Credit Union offers its members a Home
More informationUnderstanding. Preliminary Reports. Presented by: Placer, Putting People First.
Understanding Preliminary Reports Presented by: www.placertitle.com Placer, Putting People First. Placer Title Company Understanding Preliminary Reports After searching, you ve finally found it the perfect
More informationRetail Collateral Mortgage
Page 1 Retail Collateral Mortgage BETWEEN THIS MORTGAGE made on,. (the Mortgagor ), THE BANK OF (the Bank ), - and - - and - (Spouse of the Mortgagor), - and - (the Guarantor ) WITNESSES that the Mortgagor
More informationCOMMONWEALTH OF PUERTO RICO FAQs FOR BAR DATE NOTICE
COMMONWEALTH OF PUERTO RICO FAQs FOR BAR DATE NOTICE Background The Debtors in these Title III Cases and Petition Dates Title III Debtor Federal Case No. Petition Date Tax ID No. Commonwealth of Puerto
More informationscc Doc 731 Filed 07/31/18 Entered 07/31/18 14:35:02 Main Document Pg 1 of 15
Pg 1 of 15 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - x : In re: : Chapter 11 : TOISA LIMITED, et al., : Case No. 17-10184
More informationLAW ON PRIVATIZATION Official Gazette of the RoS, No. 83 dated August 5, 2014
LAW ON PRIVATIZATION Official Gazette of the RoS, No. 83 dated August 5, 2014 I GENERAL PROVISIONS Subject of the Law Article 1 This Law regulates the conditions and procedures for change of ownership
More informationClosing Disclosure. Loan Terms. Projected Payments. Costs at Closing
Closing Disclosure This form is a statement of final loan terms and closing costs. Compare this document with your Loan Estimate. Closing Information Date Issued Closing Date Disbursement Date Settlement
More informationPROSEGUR COMPAÑÍA DE SEGURIDAD, S.A. COMMUNICATION OF RELEVANT FACT
PROSEGUR COMPAÑÍA DE SEGURIDAD, S.A. COMMUNICATION OF RELEVANT FACT Madrid, June 2014 It is hereby communicated that the General Shareholders Meeting of PROSEGUR COMPAÑÍA DE SEGURIDAD, S.A., validly held
More informationVARIABLE RATE MORTGAGE
VARIABLE RATE MORTGAGE REF. NO. FREEHOLD LEASEHOLD (check ( ) appropriate box) This Mortgage is made on,. BETWEEN: Mortgagor (the borrower) AND: SCOTIA MORTGAGE CORPORATION Mortgagee (SMC) AND : Spouse
More information24 CFR Ch. XX ( Edition) APPENDIX C TO PART 3500 INSTRUCTIONS FOR
Pt. 3500 originator license and registration. This special category recognizes limited, heavily regulated activities that meet strict criteria that are different from the criteria for specific exemptions
More information