Bulletin: ID2023001

Dear Associates:

The following are summaries of some of the bills passed during the 2023 legislative session which are of interest to the title industry:

HB157 - HOA Fee for Account Statement: This legislation clarifies that a homeowner’s association may not charge a fee for providing a property owner with their account statement.

• Amends Title 55 Chapter 1528 to include: Charging a fee for any statement of the unit owner's account required by this section is a violation of the Idaho consumer protection act, chapter 6, title 48, Idaho Code.

(Effective 07/01/2023)

HB173 - Foreign Government Acquisition: This bill provides that a foreign government or state-controlled enterprise shall not purchase, acquire, or hold a controlling interest in agricultural land, water rights, mining claims, or mineral rights.  It does not apply to interests acquired prior to the effective date of the subsection. 

• Amends Title 55 Chapter 103, Who May Own Property

(Effective 04/03/2023) 

HB238 - Prohibition of Unfair Service Agreements Act: This bill addresses Unfair Service Agreements (i.e., MV Realty) that are overburdensome. The law defines the characteristics of Unfair Service Agreements, prohibits the recording of the agreements, and if recorded, that the agreements are unenforceable. The act also provides for legal remedies in the event that an Unfair Service Agreement is recorded including adding the agreements as an unfair or deceptive act under the Idaho Consumer Protection Act. 

• Amends Title 48 to add Chapter 20, Prohibition of Unfair Service Agreements Act

(Effective 07/01/2023)

SB1092 - Uniform Electronic Wills Act: Previously, a person’s last will was only valid if written on tangible material (usually paper), signed by the testator, and signed by two witnesses. The Uniform Electronic Wills Act modernizes the current law. Under the Uniform Electronic Wills Act, courts will now recognize a person’s electronic will if it is executed in compliance with the statute and the court determines the will is valid.

• Amends Title 15 Chapter 2, by adding Part 11, Uniform Electronic Wills Act

(Retroactive to 01/01/2020)

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.