Bill
Bill > HB448
summary
Introduced
01/12/2026
01/12/2026
In Committee
02/18/2026
02/18/2026
Crossed Over
02/09/2026
02/09/2026
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Land records; certain financing statements; recording and indexing fees. Sets forth the fees that a clerk of the circuit court shall charge for recording and indexing a multipurpose deed of trust or mortgage, described in the bill as a deed of trust or mortgage, whether or not commercial, that serves multiple purposes and contains two or more components that may serve as independent legal instruments for independent legal purposes. The bill provides that no clerk of a circuit court shall assess separate recording and indexing fees for such multipurpose deed of trust or mortgage unless the person presenting such document or instruments requests that such document or instruments be recorded and indexed in more than a single instance. The bill also provides that no recordation tax shall be required of a quitclaim deed or deed to correct a fraudulently recorded deed, including a deed of trust, between a grantor and grantee when no consideration has passed between the parties.
AI Summary
This bill modifies the fees and requirements for recording certain land documents, specifically addressing "multipurpose deeds of trust or mortgages," which are defined as deeds or mortgages that serve multiple legal purposes and contain two or more components that could function as independent legal instruments. Under this bill, clerks of circuit courts will charge a single, tiered fee for recording and indexing these multipurpose documents, rather than separate fees for each individual legal purpose they might serve, unless the filer specifically requests multiple recordings and indexings. The bill also clarifies that a recordation tax will not be required for quitclaim deeds or deeds used to correct fraudulently recorded deeds, including deeds of trust, when no money or other consideration has been exchanged between the parties involved.
Committee Categories
Budget and Finance, Justice
Sponsors (1)
Last Action
Continued to next session in Finance and Appropriations (15-Y 0-N) (on 02/25/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20261/HB448 |
| Fiscal Note/Analysis - Fiscal Impact Statement from Department of Planning and Budget (HB448) | https://lis.blob.core.windows.net/files/1133297.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/HB448/text/HB448 |
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