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SB 253 Virginia Senate · 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 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 Feb 28, 2020
Floor votes · Senate Feb 11, 2020

How they voted

26–13
Passed · 1 other
Total votes 40
Feb 11, 2020
D Democratic21
11 Yea 10 Nay
52% Yea
R Republican19
15 Yea 3 Nay 1
78% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
32
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