SB 433 – Modifies the law relating to deeds of trust

• Sponsor: Kraus
• LR Number: 1883S.01I
• Committee: Judiciary and Civil and Criminal Jurisprudence
• Last Action: 3/10/2011 - Second Read and Referred S Judiciary and Civil and Criminal Jurisprudence Committee
• Journal Page: S437
• Effective Date: August 28, 2011

Current Bill Summary

SB 433 - Beneficiaries of deeds of trust who are not the originating beneficiary shall record a document regarding the beneficiary's legal interest in the deed containing certain identifying information. The document shall be recorded in the same manner as the notice of trustee's sale.

Failure to properly record shall result in a voidable sale.

Those with an interest in the trust property may file an action to void the sale.

CHRIS HOGERTY