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

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

Upper · Passed

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

upper

Feb 11, 2020

Committee

Referred to Committee on the Judiciary

upper

Feb 10, 2020

Lower · Passed

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

lower

Feb 7, 2020

Lower · Passed

Engrossed by House - committee substitute HB1391H1

lower

Feb 7, 2020

Lower · Passed

Committee substitute agreed to 20106945D-H1

lower

Feb 5, 2020

Lower · Passed

Reported from Courts of Justice with substitute (17-Y 5-N)

lower

Jan 29, 2020

Lower · Passed

Subcommittee recommends reporting with substitute (7-Y 1-N)

lower

Jan 29, 2020

Lower · Passed

House committee, floor amendments and substitutes offered

lower

Jan 8, 2020

Committee

Referred to Committee for Courts of Justice

lower

Jan 8, 2020

Introduced

Prefiled and ordered printed; offered 01/08/20 20102582D

lower

1 primary · 0 co-sponsors