SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2012 SESSION

  • | print version

HB 234 Time-share estates; advertisement of foreclosure sales, information to be hard copy and electonic.

Introduced by: John A. Cosgrove | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Time-Share Act; advertising foreclosed time-share properties.  Provides the option of a more streamlined advertisement of the time-shares being foreclosed by requiring publication of the time, place, and date of sale; identification of the time-share being sold; contact information for obtaining further information about the sale; and a website address where more complete information and documentation can be obtained.

SUMMARY AS PASSED HOUSE:

Time-Share Act; advertising foreclosed time-share properties.  Reduces the amount of information required to be published in the newspaper about a time-share being sold under foreclosure. Under the bill, the street address or general location of the time-share being sold, and certain contact information to allow interested parties to receive additional information about the time-share being sold, including where to get a hard copy or electronic copy of the additional information, is required to be published in the newspaper.  The bill also requires the newspaper advertisement to contain a website address where more detailed information about the sale is displayed. 

SUMMARY AS INTRODUCED:

Abbreviated advertising for timeshare foreclosed properties.  Changes the newspaper advertisement requirements for the sale of foreclosed timeshare properties. Refers parties to a website which lists all pertinent information in lieu of a full printing in the newspaper advertisement.