2005 Legislation
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SENATE BILL NO. 1073 – Marriage settlemnts/summary contrct


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Bill Status

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.
      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

Bill Text

  ]]]]              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
  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 / Fiscal Impact

                   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.

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