VA SB762 | 2015 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on March 23 2015 - 100% progression
Action: 2015-03-23 - Governor: Acts of Assembly Chapter text (CHAP0424)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on March 23 2015 - 100% progression
Action: 2015-03-23 - Governor: Acts of Assembly Chapter text (CHAP0424)
Text: Latest bill text (Chaptered) [HTML]
Summary
Tenancy by the entireties; property held in trust. Clarifies that the proceeds of the sale of property held as tenants by the entireties in a trust retain the same immunity from a separate creditor of one spouse as is provided for the property itself. The bill also clarifies that property held in trust where both spouses are beneficiaries of one trust or where each spouse is a beneficiary of a separate trust and the two separate trusts together hold the entire property is a tenancy by the entireties, provided that the other requirements for such a tenancy are met. Finally, the bill clarifies that the creditor protection provided under current law may be waived. The provisions of this bill apply to any property of a husband and wife that is held by them as tenants by the entireties and conveyed to their joint revocable or irrevocable trusts, or to their separate revocable or irrevocable trusts, regardless of whether such conveyance occurred before or after the effective date of this bill.
Title
Tenancy by the entireties; property held in trust.
Sponsors
Roll Calls
2015-02-25 - Senate - Senate: House amendment agreed to by Senate (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2015-02-24 - House - House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (Y: 101 N: 0 NV: 1 Abs: 0) [PASS]
2015-02-20 - House - House: Reported from Courts of Justice with amendment (21-Y 0-N) (Y: 22 N: 0 NV: 1 Abs: 0) [PASS]
2015-02-11 - House - House: Subcommittee recommends reporting with amendment(s) (9-Y 0-N) (Y: 9 N: 0 NV: 1 Abs: 0) [PASS]
2015-01-20 - Senate - Senate: Read third time and passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2015-01-16 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2015-01-14 - Senate - Senate: Reported from Courts of Justice (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
2015-02-24 - House - House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (Y: 101 N: 0 NV: 1 Abs: 0) [PASS]
2015-02-20 - House - House: Reported from Courts of Justice with amendment (21-Y 0-N) (Y: 22 N: 0 NV: 1 Abs: 0) [PASS]
2015-02-11 - House - House: Subcommittee recommends reporting with amendment(s) (9-Y 0-N) (Y: 9 N: 0 NV: 1 Abs: 0) [PASS]
2015-01-20 - Senate - Senate: Read third time and passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2015-01-16 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2015-01-14 - Senate - Senate: Reported from Courts of Justice (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2015-03-23 | Governor: Acts of Assembly Chapter text (CHAP0424) | |
| 2015-03-23 | Governor: Approved by Governor-Chapter 424 (effective 7/1/15) | |
| 2015-03-10 | Governor: Governor's Action Deadline Midnight, Sunday, March 29, 2015 | |
| 2015-03-10 | Senate | Enrolled Bill Communicated to Governor on 3/10/15 |
| 2015-03-07 | Senate | Signed by President |
| 2015-03-06 | House | Signed by Speaker |
| 2015-03-06 | Senate | Bill text as passed Senate and House (SB762ER) |
| 2015-03-06 | Senate | Enrolled |
| 2015-02-25 | Senate | House amendment agreed to by Senate (39-Y 0-N) |
| 2015-02-24 | House | VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) |
| 2015-02-24 | House | Passed House with amendment BLOCK VOTE (99-Y 0-N) |
| 2015-02-24 | House | Engrossed by House as amended |
| 2015-02-24 | House | Committee amendment agreed to |
| 2015-02-24 | House | Read third time |
| 2015-02-23 | House | Read second time |
| 2015-02-20 | House | Reported from Courts of Justice with amendment (21-Y 0-N) |
| 2015-02-11 | House | Subcommittee recommends reporting with amendment(s) (9-Y 0-N) |
| 2015-02-10 | House | Assigned Courts sub: Civil Law |
| 2015-01-30 | House | Referred to Committee for Courts of Justice |
| 2015-01-30 | House | Read first time |
| 2015-01-30 | House | Placed on Calendar |
| 2015-01-20 | Senate | Read third time and passed Senate (40-Y 0-N) |
| 2015-01-19 | Senate | Read second time and engrossed |
| 2015-01-16 | Senate | Constitutional reading dispensed (39-Y 0-N) |
| 2015-01-14 | Senate | Reported from Courts of Justice (14-Y 0-N) |
| 2014-12-23 | Senate | Referred to Committee for Courts of Justice |
| 2014-12-23 | Senate | Prefiled and ordered printed; offered 01/14/15 15101140D |
