§ 15.2-979 Notice of sale under deed of trust
A. Notice shall be given to the chief administrative officer or designee of a locality and, if the property is located in a common interest community as defined in § 54.1-2345, to the common interest community association, when residential property located within that locality or common interest community becomes subject to a sale under a deed of trust.
1. Be made by the trustee or any substitute trustee authorized to conduct the sale under the deed of trust;
2. Be given no later than 60 days after the sale of the residential property under the deed of trust;
3. Include (i) the street address of the residential property, (ii) the name of all property owners whose ownership was subject to the deed of trust, (iii) the name and contact information, including telephone number, of the person filing the notice, and (iv) the name and address of all owners holding the property as a result of the sale.
C. For residential properties described in subsection A, if the mortgage loan secured by the deed of trust has been registered with a national mortgage loan electronic registration system to which the locality has access and which registry includes a unique mortgage identification number specific to the loan and which number is tied to the name of the borrower, the street address of the property, and contact information consisting of the name, telephone number, and electronic address, if any, of the current mortgage lender or mortgage loan service provider and of the current property preservation contact, then the person authorized to conduct the sale under the deed of trust shall not have to give the locality the notice described in this section and shall be deemed to have complied with any such ordinance.
D. For purposes of this section, “residential property” means single-family detached dwellings, single-family attached dwellings, individual residential condominium units, and individual residential lots located in a development subject to the Property Owners’ Association Act (§ 55.1-1800 et seq.).
History
This law was first created in 2009. The record of its establishment is cataloged in chapter 803 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 2 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 2013, chapter 749; in 2015, chapters 93 and 410.
2009, c. 803; 2013, c. 749; 2015, cc. 93, 410.