Massachusetts 2023-2024 Regular Session

Massachusetts House Bill H1411

Introduced
2/16/23  

Caption

To increase transparency in the Massachusetts land record systems to protect the property rights of homeowners and businesses

Impact

By enforcing stricter reporting requirements on mortgage assignments, H1411 strives to create a more reliable tracking system for property ownership. This could lead to increased consumer confidence in property transactions, knowing that changes in property title and mortgage agreements are made readily available in the public land records. Ultimately, the bill intends to help homeowners safeguard their rights and reduce the likelihood of fraudulent activities related to property ownership.

Summary

House Bill H1411 aims to enhance transparency within the Massachusetts land record systems, particularly focusing on protecting the property rights of homeowners and businesses. Specifically, the bill mandates that assignments of mortgages secured by residential properties must be recorded within thirty days of execution. This provision seeks to ensure that property transactions are documented in a timely manner, which in turn is expected to mitigate issues surrounding property rights and ownership disputes.

Contention

Though the bill is primarily focused on increasing transparency and protecting property rights, it may also raise concerns among stakeholders involved in real estate transactions and mortgage lending. Some industry professionals might argue that such requirements could impose additional administrative burdens and slow down the process of mortgage assignments. Furthermore, there could be a debate regarding the implications for privacy and the handling of sensitive financial information in public registries. As these discussions unfold, the potential trade-offs between transparency and efficiency will likely be scrutinized.

Companion Bills

MA S908

Similar To To increase transparency in the Massachusetts land record systems to protect the property rights of homeowners and businesses

MA H4517

Replaced by Study Order

Previously Filed As

MA S908

To increase transparency in the Massachusetts land record systems to protect the property rights of homeowners and businesses

MA S1030

To increase transparency in the Massachusetts land record systems to protect the property rights of homeowners and businesses

MA H1689

Protecting titles to real estate in Massachusetts

MA S1043

Protecting titles to real estate in Massachusetts

MA H1901

Protecting titles to real estate in Massachusetts

MA S1177

Protecting titles to real estate in Massachusetts

MA H1404

Protecting homeowners from unnecessary foreclosures

MA S1104

Protecting homeowners from unnecessary foreclosures

MA H1077

Relative to protecting homeowners after a property fire

MA S1876

Protecting homeowners from unfair tax lien practices by cities and towns

Similar Bills

No similar bills found.