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S1073................................................by JUDICIARY AND RULES MARRIAGE SETTLEMENTS - Amends existing law relating to marriage settlements to provide for the recording of summaries of contracts and to provide the effect of such recording. 01/31 Senate intro - 1st rdg - to printing 02/01 Rpt prt - to Jud 02/10 Rpt out - rec d/p - to 2nd rdg 02/11 2nd rdg - to 3rd rdg 02/14 3rd rdg - PASSED - 34-0-1 AYES -- Brandt, Broadsword, Bunderson, Burkett, Burtenshaw, Cameron, Coiner, Compton, Corder, Darrington, Davis, Gannon, Geddes, Goedde, Hill, Jorgenson, Kelly, Keough, Langhorst, Little, Lodge, Malepeai, Marley, McGee, McKenzie, Noble, Pearce, Richardson, Schroeder, Stegner, Stennett, Sweet, Werk, Williams NAYS -- None Absent and excused -- Andreason Floor Sponsor - Jorgenson Title apvd - to House 02/15 House intro - 1st rdg - to Jud 03/04 Rpt out - rec d/p - to 2nd rdg 03/07 2nd rdg - to 3rd rdg 03/15 3rd rdg - PASSED - 65-0-5 AYES -- Anderson, Andrus, Barraclough, Barrett, Bastian, Bayer, Bedke, Bell, Bilbao, Black, Block, Boe, Bolz, Bradford, Cannon, Chadderdon, Clark, Collins, Deal, Edmunson, Ellsworth, Field(18), Field(23), Garrett, Hart(Jacobson), Harwood, Henbest, Henderson, Jaquet, Jones, Kemp, Lake, LeFavour, Loertscher, Martinez, Mathews, McGeachin, McKague, Miller, Mitchell, Moyle, Nielsen, Nonini, Pasley-Stuart, Pence, Ring, Ringo, Rusche, Rydalch, Sali, Sayler, Schaefer, Shepherd(2), Shepherd(8), Shirley, Skippen, Smith(30), Smith(24), Smylie, Snodgrass, Stevenson, Trail, Wills, Wood, Mr. Speaker NAYS -- None Absent and excused -- Crow, Denney, Eskridge, Raybould, Roberts Floor Sponsor - Smith(24) Title apvd - to Senate 03/16 To enrol 03/17 Rpt enrol - Pres signed 03/18 Sp signed 03/21 To Governor 03/23 Governor signed Session Law Chapter 124 Effective: 07/01/05
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]] Fifty-eighth Legislature First Regular Session - 2005 IN THE SENATE SENATE BILL NO. 1073 BY JUDICIARY AND RULES COMMITTEE 1 AN ACT 2 RELATING TO MARRIAGE SETTLEMENTS; AMENDING SECTION 32-918, IDAHO CODE, TO PRO- 3 VIDE FOR THE RECORDING OF SUMMARIES OF CONTRACTS AND TO PROVIDE FOR THE 4 EFFECT OF SUCH RECORDING. 5 Be It Enacted by the Legislature of the State of Idaho: 6 SECTION 1. That Section 32-918, Idaho Code, be, and the same is hereby 7 amended to read as follows: 8 32-918. MARRIAGE SETTLEMENTS -- RECORD. (1) When such contract is 9 acknowledged or proved, it must be recorded in the office of the recorder of 10 every county in which any real estate may be situated which is granted or 11 affected by such contract. 12 (2) (a) A summary of the contract may be recorded in lieu of the con- 13 tract, under this chapter or the laws of this state, if the requirements 14 of this section are substantially met. 15 (b) A summary of the contract shall be signed and acknowledged by all 16 parties to the original contract. The summary of the contract shall 17 clearly state: 18 (i) The names of the parties to the original contract; 19 (ii) The complete mailing address of all parties; 20 (iii) The title and date of the contract; 21 (iv) A description of the interest or interests in real property 22 created by the contract; and 23 (v) The legal description of the property. 24 (c) Other elements of the contract may be stated in the summary. 25 (3) If the requirements of this section are met, the summary of the con- 26 tract may be recorded under the provisions of this chapter and, as to the con- 27 tents of the summary only, it shall have the same force and effect as if the 28 original contract had been recorded, and constructive notice shall be deemed 29 to be given concerning the contents of the summary and the existence of the 30 contract to any subsequent purchasers, mortgagees, or other persons or enti- 31 ties that acquire an interest in the real property.
STATEMENT OF PURPOSE RS 14755 Current Idaho law requires that Marriage Settlements (prenuptial and postnuptial agreements or similar documents) must be recorded in their entirety to be effective as to any real estate affected by the Settlement. However, such Settlement often contain information that the parties do not wish to have public, including, but certainly not limited to, details of ownership of entities, and private agreements between the parties not related to the real estate involved. This bill allows the recording of a summary of the Marriage Settlement so long as the requirements of the new bill are met. FISCAL IMPACT This bill will have no fiscal impact. Contact Name: Robert L. Aldridge, Trust & Estate Professionals of Idaho, Inc. Phone: Office 208) 336-9880 Cell (208) 631-2481 STATEMENT OF PURPOSE/FISCAL NOTE S 1073