16101605D
SENATE BILL NO. 560
Senate Amendments in [ ] – February 15, 2016
A BILL to amend and reenact §§55-59.2 and 55-63 of the Code
of Virginia, relating to foreclosure advertisements; posted at courthouse and
on circuit court website.
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Patron Prior to Engrossment--Senator Norment
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Referred to Committee for Courts of Justice
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Be it enacted by the General Assembly of Virginia:
1. That §§55-59.2 and 55-63 of the Code of Virginia are
amended and reenacted as follows:
§55-59.2. Advertisement required before sale by trustee.
A. Advertisement of sale by a trustee or trustees in execution
of a deed of trust shall be posted at the courthouse and on [ the
public government website of the locality served by the court or ]
the website of the circuit court of the city or county in which the property
to be sold is located. The clerk shall place a small, weekly notice in a
newspaper having a general circulation in the city or county wherein the
property to be sold, or any portion thereof, lies pursuant to stating
the following provisions:
1."ALL PENDING FORECLOSURE SALES ARE POSTED ON
THE CIRCUIT COURT WEBSITE, WHICH CAN BE FOUND AT _____________ AND FURTHER
POSTED AT THE COURTHOUSE." Such notice shall be placed in that section of
the newspaper where legal notices appear or where the type of property being
sold is generally advertised for sale. The clerk may charge a trustee its
proportional share of fees incurred by the clerk for placing such notice in a
newspaper.
B. If the deed of trust itself provides for the number
of publications of such newspaper advertisement, which may be done by
using the words "advertisement required" or words of like purport
followed by the number agreed upon, then no other or different advertisement
shall be necessary, provided that, if such advertisement be inserted on a
weekly basis it shall be published not less than once a week for two weeks and
if such advertisement be inserted on a daily basis it shall be published not
less than once a day for three days, which may be consecutive days, and in
either case shall be subject to the provisions of §55-63 in the same manner as
if the method were set forth in the deed of trust the advertisement
remains posted at the courthouse and on the website for the requisite period of
time. Should the deed of trust provide for advertising on other than a
weekly or daily basis either of the foregoing provisions shall be complied with
in addition to those provided in such deed of trust. If the deed of
trust does not provide for the number of publications of such advertisement,
the trustee shall ensure that the advertisement is posted at the courthouse and
on the website for at least four successive weeks. Any provision in a deed of
trust requiring advertisement in a newspaper shall be satisfied by the clerk's
notice required in subsection A.
C. Notwithstanding the provisions of the deed of trust,
the sale shall be held on any day following the day of the last advertisement
which is no earlier than eight days following the first day of
advertisement nor more than thirty 30 days following the last
day of advertisement.
2. If the deed of trust does not provide for the number of
publications of such newspaper advertisement, the trustee shall advertise once
a week for four successive weeks; provided, however, that if the property or
some portion thereof is located in a city or in a county immediately contiguous
to a city, publication of the advertisement five different days, which may be
consecutive days, shall be deemed adequate. The sale shall be held on any day
following the day of the last advertisement which is no earlier than eight days
following the first advertisement nor more than thirty days following the last
advertisement.
B. Such advertisement shall be placed in that section of
the newspaper where legal notices appear or where the type of property being
sold is generally advertised for sale.
C. D. In addition to the advertisement required
by subsection A above, the trustee shall give such other further and
different advertisement as the deed of trust may require and in addition may
give such additional advertisement as he may deem appropriate.
D. E. In the event of postponement of sale,
which postponement shall be at the discretion of the trustee, advertisement of
such postponed sale shall be in the same manner as the original advertisement
of sale.
E. F. Failure to comply with the requirements
for advertisement contained in this section shall, upon petition, render a sale
of the property voidable by the court.
§55-63. Construction of deeds requiring notice by
advertisement in newspaper.
(a) Whenever any deed of trust to secure debts or indemnify
sureties contains a provision requiring the giving of notice of sale thereunder
for a specified number of days by advertisement in one or more newspapers and
such advertisement be published in a newspaper published daily or in a
newspaper published daily except Sunday, it shall be deemed a sufficient
compliance with such provision if such (i) notice be published
in consecutive issues of such newspaper for the number of days specified,
counting both the day of the first publication and the day of the last
publication and intervening Sundays, whether or not such newspaper be published
on Sunday. Both the first publication and the last publication may be on Sunday
in the newspaper is published weekly by the clerk and (ii) the advertisement
for sale is posted at the courthouse and on [ the public
government website of the locality served by the court or ] the
website of the circuit court of the county or city in which the property is
located for the number of days specified, pursuant to §55-59.2. The
publication shall in all other respects comply with the provisions of §§
55-59.2 and 55-59.3.
(b) Whenever such deed of trust requires advertisement once a
week for a specified number of weeks, sale may be had on the day after the last
advertisement appears or any day thereafter and all sales made in conformity
herewith prior to January 1, 1972, and otherwise valid, are hereby validated.
[ 2. That the provisions of this act shall become effective
on January 1, 2017. ]
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