The House of Representatives on Feb. 18 passed House Bill 10‑43, a measure intended to give condominium and planned‑community unit owners more time and notice to sell before a homeowners association (HOA) foreclosure and to require additional disclosure to unit owners.

Supporters said the bill responds to instances where properties with substantial market value were sold at auction for relatively small lien amounts, leaving owners without equity. Representative Ricks, the bill sponsor, described amendments adopted in committee that add safeguards including an opportunity for a homeowner to seek a stay to sell on the open market and new reporting on foreclosures and judgments by management companies. “This is an additional way of trying to get the homeowner to act or informing them of their rights,” Ricks said on the floor.

Rep. AML Bacon and other supporters said the bill aims to curb what they described as “equity theft,” where homes worth hundreds of thousands of dollars were sold for little more than fines and lien balances. Bacon said such sales left homeowners with ruined credit and no funds to restart housing. “We saw homes that were worth 3, 4, 500,000 dollars being sold for $12, $13, $14,000 to satisfy one of the liens,” Bacon said.

Opponents and skeptical members urged caution, arguing the bill increases administrative burdens on HOAs and could raise costs for all residents. Representative Richardson and others warned that added reporting requirements and longer stays could strain small, volunteer HOAs and push costs to paying homeowners. Representative Wuge urged preserving local control: HOAs are locally elected bodies, she said, and disputes should be addressed at the neighborhood level rather than by statewide rule changes.

During committee consideration the House approved several floor amendments, including amendment L5, which allows an online real‑estate estimate (for example, from a marketplace site) to serve as an initial benchmark for fair‑market value when a unit owner asks a court for a stay to sell at auction, and amendment L7 which adds a required governance disclosure to notify owners that unpaid assessments could lead to sale. Sponsors said those changes were intended to give courts a practical starting point while ensuring properties actually go on the market and sell at a true fair‑market price.

The sponsor and backers said the bill does not remove HOA authority to enforce covenants or foreclose; rather, it creates a structured process giving homeowners a defined period to sell, attempt to pay liens, and preserve equity. Representative Rex and others described the policy as a tool to prevent senior citizens and low‑income owners from losing life savings when small fines and fees escalate.

The final voice vote on the floor recorded House Bill 10‑43 as passed. The bill contains new notice and reporting requirements for associations and clarifications about stays during the foreclosure process; several members said they brought the bill after incidents in their districts.

Votes at a glance for this item: the committee report and the bill were both approved on the floor; the transcript records the bill passage as “The ayes have it. House Bill 10 43 passes.” The transcript does not provide a final roll‑call tally in the floor reading excerpt.

What happens next: The measure will proceed to enrollment and transmittal for the governor per the legislature’s process, and sponsors said they will monitor implementation and compliance.