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2015 SESSION
SB 1157 Condominium Act and Property Owners' Association Act; notice of sale under deed of trust.
Introduced by: John A. Cosgrove | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Condominium Act and Property Owners' Association Act; notice of sale under deed of trust. Clarifies that the required notice of a sale under a deed of trust applies to individual residential lots located in a development subject to the Property Owners' Association Act. The bill also provides that upon receipt of such notice, the governing body of a unit owners' association or of a property owners' association, on behalf of the association, shall exercise whatever due diligence it deems necessary with respect to the unit or lot subject to such sale to protect the interests of the association. In addition, the bill (i) amends the definition of "unit owner" in the Virginia Condominium Act to include any purchaser of a condominium unit at a foreclosure sale, regardless of whether the deed is recorded in the land records where the unit is located, and (ii) adds a definition of "lot owner" in the Virginia Property Owners' Association Act. This bill is identical to HB 2080.
FULL TEXT
- 01/13/15 Senate: Prefiled and ordered printed; offered 01/14/15 15101710D pdf | impact statement
- 02/02/15 Senate: Committee substitute printed 15104610D-S1 pdf | impact statement
- 02/17/15 Senate: Bill text as passed Senate and House (SB1157ER) pdf | impact statement
- 03/10/15 Governor: Acts of Assembly Chapter text (CHAP0093) pdf
HISTORY
- 01/13/15 Senate: Prefiled and ordered printed; offered 01/14/15 15101710D
- 01/13/15 Senate: Referred to Committee on General Laws and Technology
- 02/02/15 Senate: Reported from General Laws and Technology with substitute (15-Y 0-N)
- 02/02/15 Senate: Committee substitute printed 15104610D-S1
- 02/04/15 Senate: Constitutional reading dispensed (37-Y 0-N)
- 02/05/15 Senate: Read second time
- 02/05/15 Senate: Reading of substitute waived
- 02/05/15 Senate: Committee substitute agreed to 15104610D-S1
- 02/05/15 Senate: Engrossed by Senate - committee substitute SB1157S1
- 02/05/15 Senate: Constitutional reading dispensed (38-Y 0-N)
- 02/05/15 Senate: Passed Senate (37-Y 0-N)
- 02/09/15 House: Placed on Calendar
- 02/09/15 House: Read first time
- 02/09/15 House: Referred to Committee on General Laws
- 02/10/15 House: Referred from General Laws by voice vote
- 02/10/15 House: Referred to Committee for Courts of Justice
- 02/10/15 House: Assigned Courts sub: Civil Law
- 02/11/15 House: Reported from Courts of Justice (20-Y 0-N)
- 02/12/15 House: Read second time
- 02/13/15 House: Read third time
- 02/13/15 House: Passed House BLOCK VOTE (97-Y 0-N)
- 02/13/15 House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N)
- 02/17/15 Senate: Enrolled
- 02/17/15 Senate: Bill text as passed Senate and House (SB1157ER)
- 02/17/15 House: Signed by Speaker
- 02/20/15 Senate: Signed by President
- 02/23/15 Senate: Enrolled Bill Communicated to Governor on 2/23/15
- 02/23/15 Governor: Governor's Action Deadline Midnight, Sunday, March 29, 2015
- 03/10/15 Governor: Approved by Governor-Chapter 93 (effective 7/1/15)
- 03/10/15 Governor: Acts of Assembly Chapter text (CHAP0093)