Correction for today's E-Clips
I had the wrong effective date for a new public act in today's E-Clips. PA 96-111 takes effect on Oct. 29, 2009. I had it down incorrectly as April 1, 2010. It does the following: Mortgage foreclosure. (1) Requires new owners of mortgaged real estate—a holder or purchaser, receiver, or mortgagee-in-possession—to give notice to known occupants of “dwelling units” of changes in ownership after a judicial sale. For mortgagees-in-possession it allows the occupant to retain possession of the rented property for whichever is shorter: (a) 120 days after the notice of the hearing on a properly served supplemental petition; or (b) the duration of the lease. If the duration of the lease is less than 30 days from the date of the order, the order must allow the occupant to stay for 30 days from the date of the order. (2) Requires a receiver to accept all rental payments from an occupant and any payments from a third party or any rental-assistance program. (3) Prohibits a receiver from increasing the rent without leave of court. The court must find by a preponderance of the evidence that the increase is necessary to operate and conserve the real estate. No hearing or notice is necessary for approval for an increase in a specific unit if the occupant agrees to the increase. Makes other changes.