West Virginia House Bill 2655 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on February 6 2015 - 25% progression, died in committee
Action: 2015-02-06 - To House Judiciary
Pending: House Judiciary Committee
Text: Latest bill text (Introduced) [HTML]

This bill provides that the defendant in a civil action brought to recover a deficiency remaining after a foreclosure, may not assert as a defense that the fair market value of the property sold was not obtained at the trust deed foreclosure sale, and addresses Sostaric v. Marshall, decided November 12, 2014, by the West Virginia Supreme Court of Appeals. This bill further is consistent with the holding in Pence v. Jamison, et al., 80 W.Va. 761, 94 S.E. 383 (1917), that a sale of real estate by a trustee under a deed of trust will not be set aside upon the ground of inadequacy of price, unless such inadequacy is so great as to shock the conscience of the court.

Providing that a defendant in a civil action to recover a deficiency after a sale under a deed of trust may not assert as a defense that fair market value was not obtained for the property

Del. Ron Walters [R]

Del. William Hartman [D]

Del. Steve Westfall [R]

Date	Chamber	Action
2015-02-06	House	To House Judiciary
2015-02-06	House	Introduced in House
2015-02-06	House	To Judiciary then Finance
2015-02-06	House	Filed for introduction

SB418 (Same As) 2015-04-15 - Chapter 167, Acts, Regular Session, 2015

Chapter	Article	Section	Citation Type	Statute Text
38	1	7	Amended Code	Citation Text

Type	Source
Summary	http://www.legis.state.wv.us/Bill_Status/Bills_history.cfm?input=2655&year=2015&sessiontype=RS&btype=bill
Text	http://www.legis.state.wv.us/Bill_Status/bills_text.cfm?billdoc=hb2655%20intr.htm&yr=2015&sesstype=RS&i=2655