{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-349.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-349.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-349.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-349.html"}],"law_id":70687,"edition_id":1,"section_id":70687,"structure_id":15404,"section_number":"55.1-349","catch_line":"Secured creditor to submit satisfaction for recording; liability for failure","history":"2006, c. 907, \u00a7 55-66.11; 2019, c. 712.","full_text":"A\n\nA secured creditor shall submit for recording a satisfaction of a security instrument within 90 days after the creditor receives full payment or performance of the secured obligation in accordance with subsection B of § 55.1-339. If a security instrument secures a line of credit or future advances, the secured obligation is fully performed only if, in addition to full payment, the secured creditor has received a notification requesting the creditor to terminate the line of credit or containing a statement sufficient to terminate the effectiveness of the provision for future advances in the security instrument.B\n\nA secured creditor who is required to submit a satisfaction of a security instrument for recording and fails to do so by the end of the period specified in subsection A is subject to liability under § 55.1-339.","order_by":null,"text":{"0":{"id":254978,"text":"A secured creditor shall submit for recording a satisfaction of a security instrument within 90 days after the creditor receives full payment or performance of the secured obligation in accordance with subsection B of § 55.1-339. If a security instrument secures a line of credit or future advances, the secured obligation is fully performed only if, in addition to full payment, the secured creditor has received a notification requesting the creditor to terminate the line of credit or containing a statement sufficient to terminate the effectiveness of the provision for future advances in the security instrument.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":254979,"text":"A secured creditor who is required to submit a satisfaction of a security instrument for recording and fails to do so by the end of the period specified in subsection A is subject to liability under § 55.1-339.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":15404,"edition_id":1,"name":"Satisfaction of Security Interest in Real Property","identifier":"3","label":"article","depth":4,"order_by":1,"parent_id":13328,"metadata":{},"date_created":"2026-06-26 03:54:39","date_modified":"2026-06-26 03:54:39","permalink":{"id":245187,"object_type":"structure","relational_id":15404,"identifier":"3","token":"55.1\/I\/3\/3","url":"\/55.1\/I\/3\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13328,"edition_id":1,"name":"Form and Effect of Deeds and Covenants; Liens","identifier":"3","label":"chapter","depth":3,"order_by":1,"parent_id":13327,"metadata":{},"date_created":"2026-06-26 03:44:39","date_modified":"2026-06-26 03:44:39","permalink":{"id":244985,"object_type":"structure","relational_id":13328,"identifier":"3","token":"55.1\/I\/3","url":"\/55.1\/I\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13327,"edition_id":1,"name":"Property Conveyances","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12707,"metadata":{},"date_created":"2026-06-26 03:44:39","date_modified":"2026-06-26 03:44:39","permalink":{"id":244771,"object_type":"structure","relational_id":13327,"identifier":"I","token":"55.1\/I","url":"\/55.1\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12707,"edition_id":1,"name":"Property and Conveyances","identifier":"55.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":244769,"object_type":"structure","relational_id":12707,"identifier":"55.1","token":"55.1","url":"\/55.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":63720,"structure_id":15404,"section_number":"55.1-346","catch_line":"Applicability","url":"\/55.1-346\/","token":"55.1\/I\/3\/3\/55.1-346","metadata":false},{"id":64322,"structure_id":15404,"section_number":"55.1-347","catch_line":"Definitions","url":"\/55.1-347\/","token":"55.1\/I\/3\/3\/55.1-347","metadata":false},{"id":59796,"structure_id":15404,"section_number":"55.1-348","catch_line":"Document of rescission; effect; liability for wrongful recording","url":"\/55.1-348\/","token":"55.1\/I\/3\/3\/55.1-348","metadata":false},{"id":70687,"structure_id":15404,"section_number":"55.1-349","catch_line":"Secured creditor to submit satisfaction for recording; liability for failure","url":"\/55.1-349\/","token":"55.1\/I\/3\/3\/55.1-349","metadata":false},{"id":86234,"structure_id":15404,"section_number":"55.1-350","catch_line":"Form and effect of satisfaction","url":"\/55.1-350\/","token":"55.1\/I\/3\/3\/55.1-350","metadata":false},{"id":58659,"structure_id":15404,"section_number":"55.1-351","catch_line":"Relation to Electronic Signatures in Global and National Commerce Act","url":"\/55.1-351\/","token":"55.1\/I\/3\/3\/55.1-351","metadata":false},{"id":82547,"structure_id":15404,"section_number":"55.1-352","catch_line":"Uniform standards","url":"\/55.1-352\/","token":"55.1\/I\/3\/3\/55.1-352","metadata":false}],"previous_section":{"id":59796,"structure_id":15404,"section_number":"55.1-348","catch_line":"Document of rescission; effect; liability for wrongful recording","url":"\/55.1-348\/","token":"55.1\/I\/3\/3\/55.1-348","metadata":false},"next_section":{"id":86234,"structure_id":15404,"section_number":"55.1-350","catch_line":"Form and effect of satisfaction","url":"\/55.1-350\/","token":"55.1\/I\/3\/3\/55.1-350","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-349\/","history_text":"

This law was first created in 2006. The record of its establishment is cataloged in chapter 907<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2019, chapter 712<\/a>.<\/p>","references":false,"refers_to":[{"id":82066,"section_number":"55.1-339","catch_line":"Release of deed of trust or other lien","order_by":null,"url":"\/55.1-339\/"}],"permalink":{"id":245201,"object_type":"law","relational_id":70687,"identifier":"55.1-349","token":"55.1\/I\/3\/3\/55.1-349","url":"\/55.1-349\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-349\/","token":"55.1\/I\/3\/3\/55.1-349","dublin_core":{"Title":"Secured creditor to submit satisfaction for recording; liability for failure","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-349","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A secured creditor<\/span> shall submit for recording<\/span> a satisfaction of a security instrument<\/span> within 90 days<\/span> after the creditor receives full payment or performance of the secured obligation<\/span> in accordance with subsection B of § 55.1-339<\/a>. If a security instrument<\/span> secures a line of credit or future advances, the secured obligation<\/span> is fully performed only if, in addition to full payment, the secured creditor<\/span> has received a notification requesting the creditor to terminate the line of credit or containing a statement sufficient to terminate the effectiveness of the provision for future advances in the security instrument<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> A secured creditor<\/span> who is required to submit a satisfaction of a security instrument<\/span> for recording and fails to do so by the end of the period specified in subsection A is subject to liability under § 55.1-339<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSECURED CREDITOR TO SUBMIT SATISFACTION FOR RECORDING; LIABILITY FOR FAILURE (\u00a7\n55.1-349)\n\nA. A secured creditor shall submit for recording a satisfaction of a security\ninstrument within 90 days after the creditor receives full payment or\nperformance of the secured obligation in accordance with subsection B of §\n55.1-339. If a security instrument secures a line of credit or future advances,\nthe secured obligation is fully performed only if, in addition to full payment,\nthe secured creditor has received a notification requesting the creditor to\nterminate the line of credit or containing a statement sufficient to terminate\nthe effectiveness of the provision for future advances in the security\ninstrument.\n\nB. A secured creditor who is required to submit a satisfaction of a security\ninstrument for recording and fails to do so by the end of the period specified\nin subsection A is subject to liability under § 55.1-339.\n\nHISTORY: 2006, c. 907, \u00a7 55-66.11; 2019, c. 712.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}