VirginiaHB392026 Regular SessionHouseWALLET

Duty of settlement agent; restrictive covenants.

Sponsored By: Marcus B. Simon (Democratic)

Became Law

Summary

Duty of settlement agent; restrictive covenants. Requires a settlement agent to notify the purchaser of any residential real property of the purchaser's right to remove a prohibited restrictive covenant that is contained in an instrument affecting the title of the property and disclosed as the result of the title search performed pursuant to the real estate transaction.

Your PRIA Score

Score Hidden

Personalized for You

How does this bill affect your finances?

Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.

Free to start

Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Homebuyers get title and covenant notices

In residential home deals, the settlement agent must tell the buyer that owner’s title insurance is available. If the title search for the deal shows a banned restrictive covenant in the chain of title, the agent must tell the buyer about the buyer’s right to remove it.

Faster, safer closings for buyers and sellers

Settlement agents must record the deed and other required documents. They must pay out settlement money within two business days of settlement. They may not disburse loan funds before recording. Exceptions allow returning overpayments, paying fees needed to record, or paying early only if the fund provider gives separate written instructions.

Sponsors & Cosponsors

Sponsor

  • Marcus B. Simon

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 323 • No: 0

House vote 3/10/2026

Senate amendments agreed to by House

Yes: 99 • No: 0

Senate vote 3/9/2026

General Laws and Technology Amendment agreed to

Yes: 0 • No: 0

Senate vote 3/9/2026

Passed Senate with amendments Block Vote

Yes: 40 • No: 0

Senate vote 3/6/2026

Constitutional reading dispensed Block Vote (on 2nd reading)

Yes: 39 • No: 0

Senate vote 3/6/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 3/4/2026

Reported from General Laws and Technology with amendments

Yes: 15 • No: 0

House vote 2/2/2026

Read third time and passed House Block Vote

Yes: 99 • No: 0

House vote 1/27/2026

Reported from General Laws

Yes: 21 • No: 0

House vote 1/22/2026

Subcommittee recommends reporting

Yes: 10 • No: 0

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0359)

    4/8/2026Governor
  2. Approved by Governor-Chapter 359 (effective 7/1/2026)

    4/8/2026Governor
  3. Fiscal Impact Statement from Department of Planning and Budget (HB39)

    4/1/2026House
  4. Governor's Action Deadline 11:59 p.m., April 13, 2026

    3/31/2026Governor
  5. Enrolled Bill communicated to Governor on March 31, 2026

    3/31/2026House
  6. Signed by Speaker

    3/31/2026House
  7. Bill text as passed House and Senate (HB39ER)

    3/30/2026House
  8. Enrolled

    3/30/2026House
  9. Signed by President

    3/30/2026Senate
  10. Senate amendments agreed to by House (99-Y 0-N 0-A)

    3/10/2026House
  11. Passed Senate with amendments Block Vote (40-Y 0-N 0-A)

    3/9/2026Senate
  12. General Laws and Technology Amendment agreed to

    3/9/2026Senate
  13. Engrossed by Senate as amended

    3/9/2026Senate
  14. Read third time

    3/9/2026Senate
  15. Passed by for the day Block Vote (Voice Vote)

    3/6/2026Senate
  16. Constitutional reading dispensed Block Vote (on 2nd reading) (39-Y 0-N 0-A)

    3/6/2026Senate
  17. Rules suspended

    3/6/2026Senate
  18. Reported from General Laws and Technology with amendments (15-Y 0-N)

    3/4/2026Senate
  19. Assigned GL&T sub: Housing

    2/25/2026Senate
  20. Senate subcommittee offered

    2/24/2026Senate
  21. Referred to Committee on General Laws and Technology

    2/3/2026Senate
  22. Constitutional reading dispensed (on 1st reading)

    2/3/2026Senate
  23. Read third time and passed House Block Vote (99-Y 0-N 0-A)

    2/2/2026House
  24. Read second time and engrossed

    1/30/2026House
  25. Read first time

    1/29/2026House

Bill Text

Related Bills

Back to State Legislation