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2024 SESSION

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HB 880 Common interest communities; foreclosure remedy.

Introduced by: David L. Bulova | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Common interest communities; foreclosure remedy. Prohibits certain bills to enforce a lien from being entertained if the real estate is the judgment debtor's primary residence and the judgment is for assessments levied by certain common interest community associations if the amount secured by one or more judgments exclusive of interest and costs does not exceed $5,000. The bill also requires such common interest community associations to maintain individual assessment account records. Finally, the bill requires such associations to maintain records of any recorded lien during the effective duration of such lien. As introduced, the bill was a recommendation of the Virginia Housing Commission. This bill is identical to SB 341.


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