Tenancy by the entireties; property held in trust. (SB762)
Introduced By
Progress
✓ |
Introduced |
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Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Tenancy by the entireties; property held in trust. Clarifies that the proceeds of the sale of property held as tenants by the entireties in a trust retain the same immunity from a separate creditor of one spouse as is provided for the property itself. The bill also clarifies that property held in trust where both spouses are beneficiaries of one trust or where each spouse is a beneficiary of a separate trust and the two separate trusts together hold the entire property is a tenancy by the entireties, provided that the other requirements for such a tenancy are met. Finally, the bill clarifies that the creditor protection provided under current law may be waived. The provisions of this bill are declaratory of existing law. Read the Bill »
Outcome
Bill Has Passed
History
| Date | Action |
|---|---|
| 12/23/2014 | Prefiled and ordered printed; offered 01/14/15 15101140D |
| 12/23/2014 | Referred to Committee for Courts of Justice |
| 01/14/2015 | Reported from Courts of Justice (14-Y 0-N) (see vote tally) |
| 01/16/2015 | Constitutional reading dispensed (39-Y 0-N) (see vote tally) |
| 01/19/2015 | Read second time and engrossed |
| 01/20/2015 | Read third time and passed Senate (40-Y 0-N) (see vote tally) |
| 01/30/2015 | Placed on Calendar |
| 01/30/2015 | Read first time |
| 01/30/2015 | Referred to Committee for Courts of Justice |
| 02/10/2015 | Assigned Courts sub: Civil Law |
| 02/11/2015 | Subcommittee recommends reporting with amendment(s) (9-Y 0-N) |
| 02/20/2015 | Reported from Courts of Justice with amendment (21-Y 0-N) (see vote tally) |
| 02/23/2015 | Read second time |
| 02/24/2015 | Read third time |
| 02/24/2015 | Committee amendment agreed to |
| 02/24/2015 | Engrossed by House as amended |
| 02/24/2015 | Passed House with amendment BLOCK VOTE (99-Y 0-N) |
| 02/24/2015 | VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally) |
| 02/25/2015 | House amendment agreed to by Senate (39-Y 0-N) (see vote tally) |
| 03/06/2015 | Enrolled |
| 03/06/2015 | Bill text as passed Senate and House (SB762ER) |
| 03/06/2015 | Signed by Speaker |
| 03/07/2015 | Signed by President |
| 03/10/2015 | Enrolled Bill Communicated to Governor on 3/10/15 |
| 03/10/2015 | G Governor's Action Deadline Midnight, Sunday, March 29, 2015 |
| 03/23/2015 | G Approved by Governor-Chapter 424 (effective 7/1/15) |
| 03/23/2015 | G Acts of Assembly Chapter text (CHAP0424) |