Virginia House Bill 1209 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 19 2012 - 25% progression, died in chamber
Action: 2012-02-09 - House: Continued to 2013 in General Laws by voice vote
Text: Latest bill text (Introduced) [HTML]

Virginia Real Estate Time-Share Act; developer control period. Provides that, except to the extent the time-share instruments expressly provide otherwise, the developer control period shall terminate when the developer (i) transfers to purchasers legal or equitable ownership of at least 90 percent of the time-share estates, excluding any reacquisition by the developer; (ii) is no longer the beneficiary on deeds of trust secured of at least 10 percent of the time-share estates; or (iii) has completed all of the promised common elements and facilities comprising the time-share estate project, whichever occurs later.

Virginia Real Estate Time-Share Act; developer control period.

Sen. John Cosgrove [R]

Date	Chamber	Action
2012-02-09		House: Continued to 2013 in General Laws by voice vote
2012-02-08		House: Subcommittee recommends continuing to 2013 by voice vote
2012-01-27		House: Assigned GL sub: #1 Housing
2012-01-19		House: Referred to Committee on General Laws
2012-01-19		House: Presented and ordered printed 12103906D

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?121+sum+HB1209
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+HB1209+hil