Session Laws

Whereas, The deferred operation of this act would tend to defeat its purpose, which is to immediately further regulate fair consideration for real property, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

Section 3 of chapter 109A of the General Laws, as appearing in the 1986 Official Edition, is hereby amended by striking out, in line 8, the word "obtained." and inserting in place thereof the following words:- obtained, or

(c) When property is received pursuant to a regularly conducted, noncollusive foreclosure sale or execution of a power of sale for the acquisition or disposition of such property upon default under a mortgage, deed of trust or security agreement.