                                 CODE OF VIRGINIA

NOTICE OF SALE UNDER DEED OF TRUST (§ 15.2-979)

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 &#xA7; 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.

B. The notice required by this section shall:

   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, &#8220;residential property&#8221; 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&#8217; Association Act (&#xA7;
55.1-1800 et seq.).

HISTORY: 2009, c. 803; 2013, c. 749; 2015, cc. 93, 410.