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2017 SESSION
17102756DBe it enacted by the General Assembly of Virginia:
1. That §§ 55-59.2 and 55-63 of the Code of Virginia are amended and reenacted as follows:
§ 55-59.2. Advertisement required before sale by trustee.
A. Advertisement of sale by a trustee or trustees in execution
of a deed of trust shall be posted at the
courthouse and on the public government website of the locality served by the
court or the website of the circuit court of the city or county in which the
property to be sold is located. The clerk shall place a small, weekly notice
in a newspaper having a general circulation in the city or county wherein the
property to be sold, or any portion thereof, lies
pursuant to stating
the following provisions:
1. "ALL PENDING FORECLOSURE SALES ARE POSTED ON
THE LOCAL GOVERNMENT OR
CIRCUIT COURT WEBSITE, WHICH CAN BE FOUND AT ___________ AND FURTHER POSTED AT
THE COURTHOUSE."
Such notice shall be placed in that section of the newspaper where legal notices appear or where the type of property being sold is generally advertised for sale. The clerk may charge a trustee its proportional share of fees incurred by the clerk for placing such notice in a newspaper.
B. If
the deed of trust itself provides for the number of publications of such newspaper advertisement, which
may be done by using the words "advertisement required" or words of
like purport followed by the number agreed upon, then no other or different
advertisement shall be necessary, provided that,
if such advertisement be inserted on a weekly basis it shall be published not
less than once a week for two weeks and if such advertisement be inserted on a
daily basis it shall be published not less than once a day for three days,
which may be consecutive days, and in either case shall be subject to the
provisions of § 55-63 in the same manner as if the method were set forth in the
deed of trust. Should the deed of trust provide for advertising on other than a
weekly or daily basis either of the foregoing provisions shall be complied with
in addition to those provided in such deed of trust the advertisement remains posted at the courthouse
and on the website for the requisite period of time. If the deed of trust does
not provide for the number of publications of such advertisement, the trustee
shall ensure that the advertisement is posted at the courthouse and on the
website for at least four successive weeks. Any provision
in a deed of trust requiring advertisement in a newspaper shall be satisfied by
the clerk's notice required in subsection A.
C. Notwithstanding
the provisions of the deed of trust, the sale shall be held on any day
following the day of the last advertisement which is no earlier than eight days
following the first day of
advertisement nor more than thirty 30 days following the last day of advertisement.
2. If the deed of
trust does not provide for the number of publications of such newspaper
advertisement, the trustee shall advertise once a week for four successive
weeks; provided, however, that if the property or some portion thereof is
located in a city or in a county immediately contiguous to a city, publication
of the advertisement five different days, which may be consecutive days, shall
be deemed adequate. The sale shall be held on any day following the day of the
last advertisement which is no earlier than eight days following the first
advertisement nor more than thirty days following the last advertisement.
B. Such advertisement
shall be placed in that section of the newspaper where legal notices appear or
where the type of property being sold is generally advertised for sale.
C. D. In
addition to the advertisement required by subsection A
above, the trustee shall give such other further and
different advertisement as the deed of trust may require and in addition may
give such additional advertisement as he may deem appropriate.
D. E. In the
event of postponement of sale, which postponement shall be at the discretion of
the trustee, advertisement of such postponed sale shall be in the same manner
as the original advertisement of sale.
E. F. Failure to
comply with the requirements for advertisement contained in this section shall,
upon petition, render a sale of the property voidable by the court.
§ 55-63. Construction of deeds requiring notice by advertisement in newspaper.
(a) A. Whenever
any deed of trust to secure debts or indemnify sureties contains a provision
requiring the giving of notice of sale thereunder for a specified number of
days by advertisement in one or more newspapers and such advertisement be
published in a newspaper published daily or in a newspaper published daily
except Sunday, it shall be deemed a sufficient compliance with such provision
if such
(i) notice be published in
consecutive issues of such newspaper for the number of days specified, counting
both the day of the first publication and the day of the last publication and
intervening Sundays, whether or not such newspaper be published on Sunday. Both
the first publication and the last publication may be on Sunday in the newspaper is published weekly by the clerk
and (ii) the advertisement for sale is posted at the courthouse and on the
public government website of the locality served by the court or the website of
the circuit court of the county or city in which the property is located for
the number of days specified, pursuant to § 55-59.2.
The publication shall in all other respects comply with the provisions of §§
55-59.2 and 55-59.3.
(b) B. Whenever
such deed of trust requires advertisement once a week for a specified number of
weeks, sale may be had on the day after the last advertisement appears or any
day thereafter and all sales made in conformity herewith prior to January 1,
1972, and otherwise valid, are hereby validated.
2. That the provisions of this act shall become effective on January 1, 2018.