Senate Bill No. 360
(By Senators Tucker and Plymale)
[Introduced January 20, 2012; referred to the Committee on the Judiciary.]
A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §38-11-17, relating to the rights of the purchaser of personal property at a foreclosure sale; and requiring notice be given.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §38-11-17, to read as follows:
ARTICLE 11. MISCELLANEOUS LIENS AND PLEDGES.
§38-11-17. Personal property foreclosure; abandonment.
Providing that thirty days’ notice has been given to a former owner of personal property sold at a foreclosure sale to remove that property, and where that property has not been removed, the property shall be considered abandoned and may be disposed of as the purchaser wishes. The notice required by this section shall be to the former owner of the property at the address listed on the lien or deed of trust by certified mail. The notice is complete when mailed, notwithstanding the fact that the notice may be returned as unclaimed or refused.
NOTE: The purpose of this bill is to grant the purchaser of personal property at a foreclosure sale the right of disposal provided notice has been given to the original owner.
This section is new; therefore, strike-throughs and underscoring have been omitted.