Deeds of trust; fiduciary duties. (SB253)
Introduced By
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
| Date | Action |
|---|---|
| 01/02/2020 | Referred to Committee for Courts of Justice |
| 01/02/2020 | Prefiled and ordered printed; offered 01/08/20 20102906D |
| 01/02/2020 | Referred to Committee on the Judiciary |
| 01/08/2020 | Moved from Courts of Justice to Judiciary due to a change of the committee name |
| 01/16/2020 | Assigned Juciciary sub: Civil Law |
| 01/16/2020 | Assigned Judiciary sub: Civil Law |
| 01/29/2020 | Reported from Judiciary with substitute (8-Y 5-N 1-A) (see vote tally) |
| 01/29/2020 | Committee substitute printed 20106654D-S1 |
| 01/31/2020 | Constitutional reading dispensed (37-Y 0-N) (see vote tally) |
| 02/03/2020 | Passed by for the day |
| 02/04/2020 | Passed by for the day |
| 02/05/2020 | Read second time |
| 02/05/2020 | Reading of substitute waived |
| 02/05/2020 | Committee substitute agreed to 20106654D-S1 |
| 02/05/2020 | Reading of amendments waived |
| 02/05/2020 | Amendments by Senator Petersen agreed to (20-Y 20-N) (see vote tally) |
| 02/05/2020 | Chair votes Yes |
| 02/05/2020 | Passed by for the day |
| 02/06/2020 | Amendments by Senator Petersen reconsidered (40-Y 0-N) (see vote tally) |
| 02/06/2020 | Passed by for the day |
| 02/07/2020 | Passed by for the day |
| 02/10/2020 | Read second time |
| 02/10/2020 | Reading of amendments waived |
| 02/10/2020 | Amendments by Senator Petersen rejected (18-Y 21-N) (see vote tally) |
| 02/10/2020 | Engrossed by Senate - committee substitute SB253S1 |
| 02/11/2020 | Read third time and passed Senate (26-Y 13-N) (see vote tally) |
| 02/11/2020 | Reconsideration of passage agreed to by Senate (40-Y 0-N) (see vote tally) |
| 02/11/2020 | Passed Senate (27-Y 12-N) (see vote tally) |
| 02/14/2020 | Placed on Calendar |
| 02/14/2020 | Read first time |
| 02/14/2020 | Referred to Committee for Courts of Justice |
| 02/27/2020 | Assigned Courts sub: Civil |
| 02/28/2020 | Subcommittee recommends continuing to 2021 |
| 02/28/2020 | Continued to 2021 in Courts of Justice |
Comments
VPLC opposes