SESSION OF 2002

SUPPLEMENTAL NOTE ON HOUSE BILL NO. 2698

As Amended by House Committee on

Judiciary

Brief*

       HB 2698 changes the requirement for filling out the real estate sales validation questionnaire to add to the list of exemptions regarding transfers of title. The questionnaire requirement would not apply to transfers of title “from” a trust with no consideration. Current law allows the exemption for transfers “to” a trust with no consideration.

       Another exception is to be made for the purpose of releasing an equitable lien on a previously recorded affidavit of equitable interest and without additional consideration.

Background

       A former legislator and attorney appeared in support of the bill. Support was also expressed by the Director of Property Valuation. Written support for the measure was received on behalf of the Kansas Register of Deeds Association.

       The fiscal note was not available when the bill passed out of Committee.

*Supplemental notes are prepared by the Legislative Research Department and do not express legislative intent. The supplemental note and fiscal note for this bill may be accessed on the Internet at http://www.kslegislature.org/cgi-bin/index.cgi