Bill Text: HI HB371 | 2016 | Regular Session | Introduced
Bill Title: Foreclosures; Asset
Spectrum: Partisan Bill (Democrat 11-0)
Status: (Introduced - Dead) 2015-12-17 - Carried over to 2016 Regular Session. [HB371 Detail]
Download: Hawaii-2016-HB371-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
371 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
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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 667-1.5, Hawaii Revised Statutes, is amended to read as follows:
"§667-1.5
Foreclosure by action[.]; asset not secured by mortgage. (a)
The circuit court may assess the amount due upon a mortgage, whether of real or
personal property, without the intervention of a jury, and shall render
judgment for the amount awarded, and the foreclosure of the mortgage.
Execution may be issued on the judgment, as ordered by the court.
(b) A mortgage creditor is prohibited from executing on any asset of the debtor beyond the asset that is secured by the mortgage."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act does not affect rights and duties that
matured, penalties that were incurred, and proceedings that were begun before
its effective date.
SECTION 4. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Foreclosures; Asset
Description:
Prohibits a mortgage creditor from executing on any asset of the debtor beyond the asset that is secured by the mortgage.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
