Thank you, thank you, thank you! It's because of you, the KMHI members that emailed, called, texted and visited with your legislators, that HB 270 passed both the House and Senate and has been delivered to the Governor for his signature. You all are amazing with the work you did behind the scenes.
HB 270 is so important to consumers in Kentucky. With this new law, consumers will no be able to get a title on a home where the title had previously been surrendered. This will also help retailers that have taken homes for trade-in but have not been able to sell them because they cannot get a title to the home.
KMHI gives a big thanks, also, to Barry Noffsinger, CU Factory Built Lending; Darrell Overstreet, Key Mortgage; Jamie Hylton, Hylton Sales and Rentals; and Dustin Ewing, Kentucky Dream Homes for taking the time away from your business and traveling to Frankfort to be a part of testifying before House and Senate Committees. You all did an fantastic job.
We owe a great deal of gratitude for our primary sponsor of our legislation, Representative DJ Johnson, Owensboro. He put forth so much effort to make sure HB 270 passed into law.
The effective date of this new law will probably be July 2017 and there will be work to be done in drafting and promulgating regulations as well as creating the necessary forms to convert the home from real property and get a new title on the home.
We will keep you posted on the progress of implementing this new law and will make sure you get the necessary forms as soon as they are available.
We did it! Thank you!