Pending Legislation Of Interest To The Real Estate Industry
SB 795: Foreclosure Procedures. (Introduced by McEachin, D-Richmond; patron Petersen, D-Fairfax)
Virginia enjoys one of the most streamlined non-judicial foreclosure procedures in the United States. This bill would impose additional documentation requirements on a foreclosing lender to evidence its authority to foreclose, including identification of the dates and parties to all contracts and assignments upon which the lender relies. It would lengthen the amount of time necessary to complete a foreclosure by adding a duty on the foreclosing lender to give 45 days advance notice of the sale to the present owner of the property. The bill imposes fiduciary duties on the foreclosing trustee to identify proceeds recipients, determine that all documentation is in place, and confirm default status prior to conducting the sale, and to promptly distribute the proceeds of sale. Also provides that violating foreclosure provisions is a prohibited practice under the Virginia Consumer Protection Act.
SB 996: Cash proffers. (Introduced by/chief patron Stuart, R-Montross)
Further clarification on the timing of payment of cash proffers to localities. This law allows, not requires, a locality to require that cash proffer payments be made only after completion of the final inspection and prior to the issuance of the certificate of occupancy. Currently, localities are required to delay collection of cash proffers until such time.
HB 1561: Zoning administrator; appeal of decisions. (Introduced by/chief patron Cole, R-Fredericksburg)
When do your appeal rights to a zoning administrator's decision expire? This legislation would require zoning administrators to give notice to the governing body (city council or board of supervisors) at the next public meeting of such governing body of the issuance of any written orders, requirements or other decisions regarding specific uses or density of use of a landowner's property. This notice will be deemed to be public notice to the interested parties for purposes of calculating time limits for appealing or challenging zoning administrator decisions.
HB 1721: Urban development areas. (Introduced by Marshall, R-Manassas; patrons Athey, R- Front Royal; Bell, R-Staunton; Cole R-Fredericksburg; Wilt, R-Harrisonburg)
Makes designation of UDAs by localities in their comprehensive plans optional rather than mandatory, as is currently the case. Supported by The Virginia Tea Party Alliance.
HB 1578: Fair Housing; unlawful discriminatory practice, affordable housing. (Introduced by/chief patron Dance, D-Petersburg)
Discriminatory housing practices are a no-no for localities too. This bill would prohibit localities from discriminating against affordable housing by failing to grant a land use application or development permit solely on the basis that the whole or a part of the land will be used for affordable housing. Recommended by the Virginia Housing Commission.
