HB1391
Deeds of trust; fiduciary duties.
Summary
As Passed House of Origin. Deeds of trust; fiduciary duties.
Specifies that a trustee under a deed of trust has only the duties, rights, and obligations imposed and conferred on it by the deed of trust or by statute. The bill further requires that a trustee shall comply with all restrictive covenants regarding the affordability of the property and that ... (More) a trustee under a deed of trust is a fiduciary for both the debtor and the creditor. This bill is in response to Crosby v. ALG Trustee, LLC, 296 Va. 561 (2018). (Less)-
Bill History
- 01/08/2020 - House: Prefiled and ordered printed; offered 01/08/20 20102582D
- 01/08/2020 - House: Referred to Committee for Courts of Justice
- 01/29/2020 - House: House committee, floor amendments and substitutes offered
- 01/29/2020 - House: Subcommittee recommends reporting with substitute (7-Y 1-N)
- 02/05/2020 - House: Committee substitute printed 20106945D-H1
- 02/05/2020 - House: Reported from Courts of Justice with substitute (17-Y 5-N)
- 02/06/2020 - House: Read first time
- 02/07/2020 - House: Read second time
- 02/07/2020 - House: Committee substitute agreed to 20106945D-H1
- 02/07/2020 - House: Engrossed by House - committee substitute HB1391H1
- 02/10/2020 - House: Read third time and passed House (79-Y 20-N)
- 02/10/2020 - House: VOTE: Passage (79-Y 20-N)
- 02/11/2020 - Senate: Constitutional reading dispensed
- 02/11/2020 - Senate: Referred to Committee on the Judiciary
- 02/24/2020 - Senate: Committee substitute printed to LIS only 20108839D-S1
- 02/24/2020 - Senate: Passed by indefinitely in Judiciary (13-Y 2-N)
