Credit line deeds of trust; under same statute of limitation as other deeds of trust and mortgages. (HB379)

Introduced By

Sen. Lynwood Lewis (D-Accomac)

Progress

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

Description

Credit line deeds of trust; maturity date.  Puts credit line deeds of trust under the same 20-year statute of limitations as other deeds of trust and mortgages. Currently, credit lines without a specific maturity date are unenforceable after 40 years from date of maturity. Amends § 8.01-242, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/12/2010Prefiled and ordered printed; offered 01/13/10 10101592D
01/12/2010Referred to Committee for Courts of Justice
01/15/2010Assigned Courts sub: Civil
02/16/2010Left in Courts of Justice