LRBa0843/1
FFK:skw
2019 - 2020 LEGISLATURE
ASSEMBLY AMENDMENT 1,
TO ASSEMBLY BILL 327
January 15, 2020 - Offered by Representative Ballweg.
AB327-AA1,1,11 At the locations indicated, amend the bill as follows:
AB327-AA1,1,2 21. Page 2, line 10: after that line insert:
AB327-AA1,1,3 3 Section 1m. 867.045 (5) of the statutes is created to read:
AB327-AA1,1,104 867.045 (5) If a decedent's interest in a joint tenancy or life estate is terminated
5under this section and then acquired from the surviving joint tenant or remainder
6beneficiary by a purchaser or lender in good faith, for value and without actual notice
7that the termination was improper, the purchaser or lender takes title free of any
8claims of the decedent's estate and incurs no personal liability to the estate, whether
9or not the termination was proper. Purchasers and lenders have no duty to inquire
10whether a termination was proper.”.
AB327-AA1,1,11 112. Page 3, line 5: after that line insert:
AB327-AA1,1,12 12 Section 2m. Initial applicability.
AB327-AA1,2,4
1(1) Protections for purchasers and lenders. The treatment of s. 867.045 (5)
2first applies to a decedent's interest in real property that is the subject of an
3application to terminate the decedent's interest under s. 867.045 that is recorded on
4the effective date of this subsection.”.
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