Deed of trust; assignment of penalty for failure to release. (SB888)
Introduced By
Sen. Ryan McDougle (R-Mechanicsville)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Release of deed of trust; assignment of penalty. Prohibits settlement agents and real estate attorneys from facilitating an assignment, to themselves or any person they designate, of their client's right to the $500 penalty levied on lenders that fail to timely deliver a certificate of satisfaction releasing a deed of trust. Amends § 55-66.3 (“Release of deed of trust or other lien.”), of the Code of Virginia. View Full Text »

