Real estate settlements; disclosures may be provided electronically and overnight delivery. (HB2099)

Introduced By

Del. Jim Scott (D-Merrifield)

Progress

√
 Introduced
√
 Passed Committee
√
 Passed House
√
 Passed Senate
√
 Signed by Governor
√
 Became Law

Description

Real estate settlements; disclosures.  Provides that the disclosure required by the seller under the Virginia Residential Property Disclosure Act may be provided by electronic means and overnight delivery using a commercial service or the U.S. Postal Service. Currently the disclosure must be made by either hand delivery or by United States mail.  Regarding disclosures related to settlement service providers, the bill requires that a person to making a referral to an affiliated settlement service provider where the person owns more than one percent of the affiliated service provider must disclose the percentage of the interest. Under the bill if the percentage is higher than 50 percent, the disclosure must state that the service provider is a subsidiary of the person making the referral. Amends § 55-520, § 55-525.12, § 55-525.13, of the Code of Virginia. View Full Text »

Outcome

Bill Has Passed

History

  • 01/12/2011 Committee
  • 01/12/2011 Prefiled and ordered printed; offered 01/12/11 11100729D
  • 01/12/2011 Referred to Committee on General Laws
  • 01/17/2011 Assigned GL sub: #1 Housing
  • 01/26/2011 Subcommittee recommends reporting (7-Y 0-N)
  • 01/27/2011 Reported from General Laws (22-Y 0-N) (see vote tally)
  • 01/31/2011 Read first time
  • 02/01/2011 Read second time and engrossed
  • 02/02/2011 Read third time and passed House BLOCK VOTE (98-Y 0-N)
  • 02/02/2011 VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
  • 02/03/2011 Constitutional reading dispensed
  • 02/03/2011 Referred to Committee for Courts of Justice
  • 02/04/2011 Assigned Courts sub: Civil
  • 02/08/2011 Assigned Courts sub:
  • 02/14/2011 Reported from Courts of Justice (15-Y 0-N) (see vote tally)
  • 02/15/2011 Constitutional reading dispensed (40-Y 0-N) (see vote tally)
  • 02/16/2011 Read third time
  • 02/16/2011 Passed Senate (40-Y 0-N) (see vote tally)
  • 02/22/2011 Enrolled
  • 02/22/2011 Bill text as passed House and Senate (HB2099ER)
  • 02/22/2011 Signed by Speaker
  • 02/23/2011 Signed by President
  • 03/14/2011 G Approved by Governor-Chapter 82 (effective 7/1/11)
  • 03/14/2011 G Acts of Assembly Chapter text (CHAP0082)