VA HB715 | 2010 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 7 2010 - 100% progression
Action: 2010-04-07 - Governor: Acts of Assembly Chapter text (CHAP0236)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 7 2010 - 100% progression
Action: 2010-04-07 - Governor: Acts of Assembly Chapter text (CHAP0236)
Text: Latest bill text (Chaptered) [HTML]
Summary
Releases of deed of trust. Allows certain title insurance companies to exercise the authority that settlement agents currently possess to release the lien of a deed of trust. References to "mortgage" are replaced with "deed of trust." The measure also authorizes a settlement agent to release a deed of trust lien upon written confirmation from the lien creditor that such obligation has a zero balance. The procedure for lien releases by settlement agent and title insurance companies is limited to transactions involving real estate that is either unimproved with a lien amount not exceeding $1 million or containing one to four residential dwelling units. The measure also eliminates a duplicative provision addressing a settlement agent's ability to obtain an assignment of the $500 penalty imposed for a lender's failure to release a lien within the prescribed period.
Title
Deed of trust; allows title insurance companies authority settlement agents have to release lien.
Sponsors
Roll Calls
2010-02-24 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-23 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-22 - Senate - Senate: Reported from Courts of Justice (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-02 - House - House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (Y: 99 N: 0 NV: 2 Abs: 0) [PASS]
2010-01-27 - House - House: Reported from Courts of Justice with amendment (22-Y 0-N) (Y: 23 N: 0 NV: 0 Abs: 0) [PASS]
2010-01-25 - House - House: Subcommittee recommends reporting with amendment(s) (10-Y 0-N) (Y: 10 N: 0 NV: 1 Abs: 0) [PASS]
2010-02-23 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-22 - Senate - Senate: Reported from Courts of Justice (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2010-02-02 - House - House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (Y: 99 N: 0 NV: 2 Abs: 0) [PASS]
2010-01-27 - House - House: Reported from Courts of Justice with amendment (22-Y 0-N) (Y: 23 N: 0 NV: 0 Abs: 0) [PASS]
2010-01-25 - House - House: Subcommittee recommends reporting with amendment(s) (10-Y 0-N) (Y: 10 N: 0 NV: 1 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2010-04-07 | Governor: Acts of Assembly Chapter text (CHAP0236) | |
| 2010-04-07 | Governor: Approved by Governor-Chapter 236 (effective 7/1/10) | |
| 2010-03-03 | Senate: Signed by President | |
| 2010-03-02 | House: Signed by Speaker | |
| 2010-03-02 | House: Bill text as passed House and Senate (HB715ER) | |
| 2010-03-02 | House: Enrolled | |
| 2010-02-24 | Senate: Passed Senate (40-Y 0-N) | |
| 2010-02-24 | Senate: Read third time | |
| 2010-02-23 | Senate: Constitutional reading dispensed (40-Y 0-N) | |
| 2010-02-22 | Senate: Reported from Courts of Justice (15-Y 0-N) | |
| 2010-02-17 | Senate: Assigned Courts sub: Civil | |
| 2010-02-03 | Senate: Referred to Committee for Courts of Justice | |
| 2010-02-03 | Senate: Constitutional reading dispensed | |
| 2010-02-02 | House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) | |
| 2010-02-02 | House: Read third time and passed House BLOCK VOTE (97-Y 0-N) | |
| 2010-02-01 | House: Printed as engrossed 10101555D-E | |
| 2010-02-01 | House: Engrossed by House as amended HB715E | |
| 2010-02-01 | House: Committee amendment agreed to | |
| 2010-02-01 | House: Read second time | |
| 2010-01-29 | House: Read first time | |
| 2010-01-27 | House: Reported from Courts of Justice with amendment (22-Y 0-N) | |
| 2010-01-25 | House: Subcommittee recommends reporting with amendment(s) (10-Y 0-N) | |
| 2010-01-19 | House: Assigned Courts sub: Civil | |
| 2010-01-12 | House: Referred to Committee for Courts of Justice | |
| 2010-01-12 | House: Prefiled and ordered printed; offered 01/13/10 10101555D |
