By: Robert Amara
In 2011, the Massachusetts Supreme Judicial Court issued two opinions - U.S. National Bank Ass’n v. Ibanez and Bevilacqua v. Rodriguez - which cast doubt on the marketability of some properties with a foreclosure in the chain of title. The State Legislature’s Joint Committee on the Judiciary held a Public Hearing on January 11, 2012 that included legislative responses to the title issues raised by these decisions. Of note at the Public Hearing were two pieces of legislation aimed at remedying the marketability issues raised by Ibanez and Bevilacqua: House Bill 2854 filed by State Representative Angelo M. Scaccia and Senate Bill 830 filed by State Senator Michael O. Moore.
Following the Public Hearing, the Boston Bar Association’s Real Estate Section and the Financial Services Public Policy Committee held a brown bag lunch discussion on January 17, 2012 (the “Brown Bag”), led by Liam Vesley, a partner at Pierce Atwood LLP, and Ward Graham of WFG National Title Insurance Company. The purpose of the Brown Bag to outline the current state of the law in the wake of these decisions and to discuss possible legislative solutions.
This article focuses on the proposed legislative responses to the matters raised by the Ibanez and Bevilacqua decisions.
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