HB 1391 Virginia House of Delegates · 2020 Regular Session

Deeds of trust; fiduciary duties.

Summary

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).

Bill status passed both 4 of 5 stages cleared

Introduction

Jan 2020

Committee Review

Feb 2020

House of Delegates Passage

Feb 2020

Senate Passage

Feb 2020

Governor

Introduced Jan 8, 2020 Last action Feb 24, 2020

Floor votes · House of Delegates Feb 10, 2020

How they voted

This bill passed the Senate. No roll call record of that vote is available.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 24, 2020

Senate · Passed

Passed by indefinitely in Judiciary (13-Y 2-N)

Feb 11, 2020

Senate · Referred to committee

Referred to Committee on the Judiciary

Feb 10, 2020

House of Delegates · Passed

Read third time and passed House (79-Y 20-N)

Feb 7, 2020