SB 253

  • Virginia Senate Bill
  • 2021 Regular Session
  • Introduced in Senate Jan 02, 2020
  • Passed Senate Feb 11, 2020
  • House
  • Governor

Deeds of trust; fiduciary duties.

Abstract

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).

Deeds of trust; fiduciary duties. Specifiesthat a trustee under a deed of trust has only the duties, rights,and obligations imposed and conferred on it by the deed of trustor by statute. This bill is in response to Crosby v. ALG Trustee,LLC, 296 Va. 561 (2018).

Bill Sponsors (1)

Votes


Actions


Dec 04, 2020

House

Left in Courts of Justice

Feb 28, 2020

House

Continued to 2021 in Courts of Justice

House

Subcommittee recommends continuing to 2021

Feb 27, 2020

House

Assigned Courts sub: Civil

Feb 14, 2020

House

Placed on Calendar

House

Referred to Committee for Courts of Justice

House

Read first time

Feb 11, 2020

Senate

Reconsideration of passage agreed to by Senate (40-Y 0-N)

Senate

Passed Senate (27-Y 12-N)

Senate

Read third time and passed Senate (26-Y 13-N)

Feb 10, 2020

Senate

Read second time

Senate

Engrossed by Senate - committee substitute SB253S1

Senate

Amendments by Senator Petersen rejected (18-Y 21-N)

Senate

Reading of amendments waived

Feb 07, 2020

Senate

Passed by for the day

Feb 06, 2020

Senate

Amendments by Senator Petersen reconsidered (40-Y 0-N)

Senate

Passed by for the day

Feb 05, 2020

Senate

Read second time

Senate

Passed by for the day

Senate

Chair votes Yea

Senate

Amendments by Senator Petersen agreed to (20-Y 20-N)

Senate

Reading of amendments waived

Senate

Committee substitute agreed to 20106654D-S1

Senate

Reading of substitute waived

Feb 04, 2020

Senate

Passed by for the day

Feb 03, 2020

Senate

Passed by for the day

Jan 31, 2020

Senate

Constitutional reading dispensed (37-Y 0-N)

Jan 29, 2020

Senate

Committee substitute printed 20106654D-S1

Senate

Reported from Judiciary with substitute (8-Y 5-N 1-A)

Jan 16, 2020

Senate

Assigned Judiciary sub: Civil Law

Jan 08, 2020

Senate

Moved from Courts of Justice to Judiciary due to a change of the committee name

Jan 02, 2020

Senate

Prefiled and ordered printed; offered 01/08/20 20102906D

Senate

Referred to Committee on the Judiciary

Bill Text

Bill Text Versions Format
Prefiled and ordered printed; offered 01/08/20 20102906D HTML
Committee substitute printed 20106654D-S1 HTML

Related Documents

Document Format
Amendment: SB253ASR HTML
Amendment: SB253AS HTML

Sources

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