Deeds of trust; fiduciary duties. (SB253)

Introduced By

Sen. Ben Chafin (R-Lebanon)

Progress

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

Description

Deeds of trust; fiduciary duties. Specifies that a trustee under a deed of trust has only the duties, rights, and obligations imposed and conferred on it by the deed of trust or by statute. The bill further requires that a trustee shall comply with all restrictive covenants regarding the affordability of the property and that a trustee under a deed of trust is a fiduciary for both the debtor and the creditor. This bill is in response to Crosby v. ALG Trustee, LLC, 296 Va. 561 (2018). Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/02/2020Referred to Committee for Courts of Justice
01/02/2020Prefiled and ordered printed; offered 01/08/20 20102906D
01/02/2020Referred to Committee on the Judiciary
01/08/2020Moved from Courts of Justice to Judiciary due to a change of the committee name
01/16/2020Assigned Juciciary sub: Civil Law
01/16/2020Assigned Judiciary sub: Civil Law
01/29/2020Reported from Judiciary with substitute (8-Y 5-N 1-A) (see vote tally)
01/29/2020Committee substitute printed 20106654D-S1
01/31/2020Constitutional reading dispensed (37-Y 0-N) (see vote tally)
02/03/2020Passed by for the day
02/04/2020Passed by for the day
02/05/2020Read second time
02/05/2020Reading of substitute waived
02/05/2020Committee substitute agreed to 20106654D-S1
02/05/2020Reading of amendments waived
02/05/2020Amendments by Senator Petersen agreed to (20-Y 20-N) (see vote tally)
02/05/2020Chair votes Yes
02/05/2020Passed by for the day
02/06/2020Amendments by Senator Petersen reconsidered (40-Y 0-N) (see vote tally)
02/06/2020Passed by for the day
02/07/2020Passed by for the day
02/10/2020Read second time
02/10/2020Reading of amendments waived
02/10/2020Amendments by Senator Petersen rejected (18-Y 21-N) (see vote tally)
02/10/2020Engrossed by Senate - committee substitute SB253S1
02/11/2020Read third time and passed Senate (26-Y 13-N) (see vote tally)
02/11/2020Reconsideration of passage agreed to by Senate (40-Y 0-N) (see vote tally)
02/11/2020Passed Senate (27-Y 12-N) (see vote tally)
02/14/2020Placed on Calendar
02/14/2020Read first time
02/14/2020Referred to Committee for Courts of Justice
02/27/2020Assigned Courts sub: Civil
02/28/2020Subcommittee recommends continuing to 2021
02/28/2020Continued to 2021 in Courts of Justice

Duplicate Bills

The following bills are identical to this one: HB1391.

Comments

Virginia Poverty Law Center, tracking this bill in Photosynthesis, notes:

VPLC opposes

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