SB 485 — AN ACT CONCERNING THE PROVISION OF A PAYOFF STATEMENT BY A JUDGMENT LIENHOLDER.

General Assembly   RaisedSubstitute Bill No.

485 February Session, 2018   LCO*_____SB00485JUD___040418____* No.AN ACT CONCERNING THE PROVISION OF A PAYOFF STATEMENT BY A JUDGMENT LIENHOLDER.

2347   *02347_______JUD* Referred to Committee on JUDICIARY   Introduced by:

  (JUD)   AN ACT CONCERNING THE PROVISION OF A PAYOFF STATEMENT BY A JUDGMENT LIENHOLDER.

(b)When Ifrequesting thea judgmentpayoff lienholderstatement, orthe andebtor, debtor's attorney whoor hasauthorized filedrepresentative anfor appearancethe oncurrent behalfowner of such judgment lienholder does not provide the payoffproperty statementwhich onis orsubject beforeto the datelien specifiedmay inrely theon request, the judgmentlast lienholderrecorded orlien attorneyof whorecord hassecuring filedthe anlienholder's appearance on behalf of such judgment lienholderin shallidentifying bethe liablename forand damagesmailing toaddress anyof person aggrieved at the rateholder of twosuch hundredlien, dollarsunless forthe eachholder week of failure to provide such alien payoffis statement,the upplaintiff toin aan maximumaction ofpending three thousand dollars, or in anSuperior amountCourt equal to theenforce loss sustained by such aggrievedinterest, personin aswhich acase result of the failurerequest offor thea judgmentpayoff lienholderstatement orshall attorneybe provided to providethe suchattorney aappearing payoffon statement,behalf whicheverof isthe greater,plaintiff. plus costs and reasonable attorney's fees.

(c)(b) The judgment lienholder or attorney shall not impose any fee or charge for the first payoff statement requested within a calendar year, unless the judgment debtor or the judgment debtor's attorney or other authorized agent requests expedited delivery of such statement, agrees to pay a fee for such expedited delivery and the payoff statement is provided by the agreed upon date.

Section 1 October 1, 2018 New section StatementJUD ofJoint Purpose:Favorable Subst.

To establish the time frame applicable to a judgment lienholder's response to a request for a payoff statement from a judgment debtor or an agent acting on behalf of such judgment debtor.

[Proposed deletions are enclosed in brackets.

Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]