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2020 SESSION

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HB 1391 Deeds of trust; fiduciary duties.

Introduced by: James A. "Jay" Leftwich | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

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 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).

FULL TEXT

• 01/08/20  House: Prefiled and ordered printed; offered 01/08/20 20102582D  pdf
• 02/05/20  House: Committee substitute printed 20106945D-H1  pdf
• 02/24/20  Senate: Committee substitute printed to LIS only 20108839D-S1  pdf

AMENDMENTS

• House subcommittee amendments and substitutes adopted
• House committee, floor amendments and substitutes offered

HISTORY

• 01/08/20  House: Prefiled and ordered printed; offered 01/08/20 20102582D
• 01/08/20  House: Referred to Committee for Courts of Justice
• 01/29/20  House: Subcommittee recommends reporting with substitute (7-Y 1-N)
• 02/05/20  House: Committee substitute printed 20106945D-H1
• 02/05/20  House: Reported from Courts of Justice with substitute (17-Y 5-N)
• 02/06/20  House: Read first time
• 02/07/20  House: Read second time
• 02/07/20  House: Committee substitute agreed to 20106945D-H1
• 02/07/20  House: Engrossed by House - committee substitute HB1391H1
• 02/10/20  House: Read third time and passed House (79-Y 20-N)
• 02/10/20  House: VOTE: Passage (79-Y 20-N)
• 02/11/20  Senate: Constitutional reading dispensed
• 02/11/20  Senate: Referred to Committee on the Judiciary
• 02/24/20  Senate: Committee substitute printed to LIS only 20108839D-S1
• 02/24/20  Senate: Passed by indefinitely in Judiciary (13-Y 2-N)