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SB 253 Virginia Senate · 2021 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 3 of 5 stages cleared
Introduction
Jan 2020
Committee Review
Feb 2020
Senate Passage
Feb 2020
House of Delegates Passage
Governor
Introduced Jan 2, 2020 Last action Dec 4, 2020
Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history

Actions timeline

Total actions
33
Key actions
13
Committee
9
Amendments
5
Feb 28, 2020
Lower · Passed
Subcommittee recommends continuing to 2021
lower
Feb 27, 2020
Committee
Assigned Courts sub: Civil
lower
Feb 14, 2020
Committee
Referred to Committee for Courts of Justice
lower
Feb 11, 2020
Upper · Passed
Passed Senate (27-Y 12-N)
upper
Feb 11, 2020
Upper · Passed
Read third time and passed Senate (26-Y 13-N)
upper
Feb 10, 2020
Upper · Passed
Engrossed by Senate - committee substitute SB253S1
upper
Feb 10, 2020
Amended
Amendments by Senator Petersen rejected (18-Y 21-N)
upper
Feb 10, 2020
Introduced
Reading of amendments waived
upper
Feb 7, 2020
Upper · Passed
Passed by for the day
upper
Feb 6, 2020
Upper · Passed
Passed by for the day
upper
Feb 6, 2020
Introduced
Amendments by Senator Petersen reconsidered (40-Y 0-N)
upper
Feb 5, 2020
Upper · Passed
Passed by for the day
upper
Feb 5, 2020
Upper · Passed
Amendments by Senator Petersen agreed to (20-Y 20-N)
upper
Feb 5, 2020
Introduced
Reading of amendments waived
upper
Feb 5, 2020
Upper · Passed
Committee substitute agreed to 20106654D-S1
upper
Feb 4, 2020
Upper · Passed
Passed by for the day
upper
Feb 3, 2020
Upper · Passed
Passed by for the day
upper
Jan 29, 2020
Upper · Passed
Reported from Judiciary with substitute (8-Y 5-N 1-A)
upper
Jan 16, 2020
Committee
Assigned Judiciary sub: Civil Law
upper
Jan 8, 2020
Upper · Passed
Moved from Courts of Justice to Judiciary due to a change of the committee name
upper
Jan 2, 2020
Committee
Referred to Committee on the Judiciary
upper
Jan 2, 2020
Introduced
Prefiled and ordered printed; offered 01/08/20 20102906D
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
AB
A. Benton "Ben" Chafin
RRepublican
VA
38