2011 Kansas Code
Chapter 21. - CRIMES AND PUNISHMENTS
Article 44. - CRIMES AFFECTING BUSINESS
21-4410 Equity skimming.
21-4410. Equity skimming. (a) It shall be unlawful for any person who, with intent to defraud, willfully engages in a pattern or practice of:
(1) Purchasing one family to four family dwellings, including condominiums and cooperatives or acquiring any right, title or interest therein, including but not limited to an equity of redemption interest, which are subject to a loan in default at time of purchase or in default within one year subsequent to the purchase and the loan is secured by a mortgage;
(2) failing to deliver all rent proceeds received from rental of the property to the holder of the mortgage before a sheriff's sale or holder of the certificate of purchase during the period of redemption, not to exceed the monthly payment of principal and interest required by the note and mortgage; and
(3) applying or authorizing the application of rents from such dwellings for such person's own use.
(b) Violation of subsection (a) is a class A nonperson misdemeanor.
(c) Each purchase of a dwelling pursuant to subsection (a) shall be deemed a separate offense.
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