Tag Archive: "Virginia"
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Virginia Modifies Real Estate Provisions
The state of Virginia has amended several of its real estate provisions, including those relating to mortgage brokers, the misuse of the power of attorney, and residential property disclosures. These updates are effective as of July 1, 2022.
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Virginia Modifies Licensing Provisions Regarding MLOs
The Commonwealth of Virginia modified its provisions relating to licensing requirements for mortgage loan originators.
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Virginia Modifies Provisions Regarding Notaries
The Commonwealth of Virginia modified its provisions relating to notaries and fee agreements with an employer. The amendment provides that “any employer may require a notary in his employment to surrender to such employer a fee, if charged, or any part thereof, provided that the notarial act for which the fee is charged is performed […]
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Virginia Enacts Provisions Regarding Foreclosure Notice
The Commonwealth of Virginia amended its provisions regarding notice to tenant in the event of a foreclosure.
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Virginia Amends Provisions Regarding Foreclosure
The commonwealth of Virginia amended its provisions relating to foreclosure that include notice of sale requirements when the owner is deceased. These provisions are effective on July 1, 2018.
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Virginia Adopts Provisions Regarding Mortgage Lenders, Brokers and MLOs
The Virginia Corporation Commission adopted provisions regarding mortgage lenders, mortgage brokers and mortgage loan requirements. These amendments took effect on May 15, 2017.
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Virginia Amends Residential Property Disclosure Act
The Virginia Residential Property Disclosure Act has been amended to include new sections outlining definitions and new disclosures required regarding pending building or zoning violations and additional other revisions.
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Virginia Uniform Fiduciary Access to Digital Assets Act
Virginia has enacted the ‘Uniform Fiduciary Access to Digital Assets Act.’ The Act allows a user to use an online tool or to direct in a will, trust, power of attorney or other record disclosure the release of all, none or some of the users digital assets in the possession of a custodian to a designated recipient.
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Virginia Amends Various Residential Real Estate Provisions
Virginia Amends Provisions Regarding Tenant Escrow Funds and Security Deposits, Notices to Tenants in the Event of Foreclosure and Provisions Regarding Electronic Filing of Land Records
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Virginia Amends Provisions Regarding Tenants by the Entireties
The General Assembly of Virginia has recently updated House Bill 2050, section 55-20.2, which concerns the severing of a tenancy by the entireties. These changes will become effective on July 1, 2017.