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2009 SESSION

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097730654
HOUSE BILL NO. 2129 Offered January 14, 2009 Prefiled January 13, 2009 A BILL to amend the Code of Virginia by adding sections numbered 55-225.10 and 55-248.15:01, relating to landlord and tenant laws; notice to tenant in event of foreclosure. ---------- Patron-- Nichols ---------- Referred to Committee on General Laws ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding sections numbered 55-225.10 and 55-248.15:01 as follows:

§ 55-225.10. Notice to tenant in event of foreclosure.

A. The landlord shall give written notice to the tenant of a mortgage default, notice of mortgage acceleration, or notice of foreclosure sale relative to the loan on the dwelling unit within five business days after written notice from the lender is received by the landlord.

The provisions of this section shall not apply (i) to any managing agent who does not receive a copy of such written notice from the lender or (ii) if the tenant provides a copy of the written notice from the lender to the landlord or the managing agent.

B. Failure of the landlord to provide the notice required by this section shall immediately terminate the rental agreement at the option of the tenant and, notwithstanding any law to the contrary, the tenant shall be entitled to return of the security deposit and any accrued interest, without any deductions, damages, or charges by the landlord, within 10 days after termination of the tenancy and delivery of possession.

§ 55-248.15:01. Notice to tenant in event of foreclosure.

A. The landlord shall give written notice to the tenant of a mortgage default, notice of mortgage acceleration, or notice of foreclosure sale relative to the loan on the dwelling unit within five business days after written notice from the lender is received by the landlord. 

The provisions of this section shall not apply (i) to any managing agent who does not receive a copy of such written notice from the lender or (ii) if the tenant provides a copy of the written notice from the lender to the landlord or the managing agent.

B. Failure of the landlord to provide the notice required by this section shall immediately terminate the rental agreement at the option of the tenant and, notwithstanding subsection A of § 55-248.15:1, the tenant shall be entitled to return of the security deposit and any accrued interest, without any deductions, damages, or charges by the landlord, within 10 days after termination of the tenancy and delivery of possession.