Lien and secured creditors; duties. (HB1577)

Introduced By

Sen. Roz Dance (D-Petersburg)

Progress

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

Description

Duties of lien and secured creditors.  Changes from 90 to 60 the number of days by which a secured creditor is required to submit for recording a satisfaction of a security instrument after the creditor receives full payment or performance of the secured obligation. The bill similarly changes from 90 to 60 the number of days by which a lien creditor is required, after full or partial payment or satisfaction has been made of a debt secured by a deed of trust, vendor's lien, or other lien, to provide a certificate of satisfaction to the settlement agent or deliver it to the clerk's office with the necessary fee for filing. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/05/2011Committee
01/05/2011Prefiled and ordered printed; offered 01/12/11 11102749D
01/05/2011Referred to Committee for Courts of Justice
01/10/2011Assigned Courts sub: #2 Civil
01/12/2011Subcommittee recommends laying on the table
02/08/2011Left in Courts of Justice

Comments

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

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