Foreclosure of affordable dwelling units; redevelopment & housing authority to purchase. (HB1152)

Introduced By

Del. Jim Scott (D-Merrifield)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Foreclosure of affordable dwelling units.  Provides a redevelopment and housing authority administering a properly established affordable dwelling unit program with the opportunity to, and exclusive right to, purchase an affordable dwelling unit at a foreclosure sale for an amount not to exceed the maximum controlled sales price of the unit. In localities that have not established a redevelopment and housing authority, the local governing body may exercise the exclusive right to purchase. Under the bill, the exclusive right to purchase would be applicable only if the affordable dwelling unit is subject to restrictive covenants recorded in the circuit court land records prior to the deed of trust proposed for the foreclosure. In addition, the covenants and applicable zoning ordinances would have to include maximum sales price limitations. Read the Bill »


Bill Has Failed


01/13/2010Prefiled and ordered printed; offered 01/13/10 10101788D
01/13/2010Referred to Committee on General Laws
02/01/2010Assigned GL sub: #1 Housing
02/10/2010Subcommittee recommends passing by with letter
02/11/2010Passed by in General Laws with letter