Debt secured by deed of trust; recordation of certificate of assignment. (SB838)

Introduced By

Sen. Chap Petersen (D-Fairfax)

Progress

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

Description

Recordation of certificate of assignment of debt secured by deed of trust.  Requires the assignee of a debt or other obligation that is secured by a deed of trust, mortgage, or vendor's lien on real estate to record a certificate of assignment in the clerk's office of the circuit court where the deed of trust, mortgage, or vendor's lien is recorded. Effective July 1, 2011, the recordation of a certificate of assignment will be necessary to transfer the benefit of the security provided by the deed of trust or mortgage. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/07/2011Prefiled and ordered printed; offered 01/12/11 11102999D
01/07/2011Referred to Committee for Courts of Justice
01/11/2011Assigned Courts sub: Civil
02/07/2011Reported from Courts of Justice (9-Y 5-N) (see vote tally)
02/08/2011Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/08/2011Read second time and engrossed
02/08/2011Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/08/2011Pending question ordered (32-Y 8-N) (see vote tally)
02/08/2011Defeated by Senate (14-Y 26-N) (see vote tally)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 30 minutes.

Comments

Jay S., tracking this bill in Photosynthesis, notes:

petersen

Virginia Housing Coalition, tracking this bill in Photosynthesis, notes:

The Virginia Housing Coalition is lending its support to this bill.