Bill
S 1785
Overview: S 1785, "Requires multiple liens on farm property to be paid in chronological order, with the earliest lien being paid off first and the most recent being paid last", was
Overview: S 1785, "Requires multiple liens on farm property to be paid in chronological order, with the earliest lien being paid off first and the most recent being paid last", was referred to the Local Government committee on May 15, 2025.
Purpose and Intent: The bill aims to establish a clear order of priority for paying off multiple liens on farm properties. This is intended to provide more predictability and fairness for lienholders when farms have multiple outstanding debts.
Key Provisions:
- Requires that when a farm property has multiple liens, the liens must be paid off in chronological order, with the earliest lien being paid first and the most recent lien being paid last.
- Applies to all types of liens on farm real estate, including mortgages, tax liens, and other encumbrances.
- Establishes this chronological lien payment order as the default rule, unless otherwise specified in a contract between the lienholder and the farm owner.
Affected Parties and Impacts: This bill would primarily impact farm owners with multiple outstanding liens, as well as the various lienholders seeking to recover their debts. It aims to create a more equitable system for all parties involved in farm financing and debt resolution.
Procedural and Timeline Considerations: The bill has been referred to the Local Government committee and its next steps would be further committee consideration and potential floor votes in the Senate.
Compiled from official sources — confirm details with the bill’s official record.
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