Fabio
85 lines
7.3 KiB
Markdown
85 lines
7.3 KiB
Markdown
---
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type: "Bill"
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title: "Residential rental property."
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description: "Provides that if a residential dwelling unit is foreclosed upon and a tenant is lawfully occupying the dwelling unit at the time of the foreclosure, the foreclosure shall act as a termination of the rental agreement by the landlord. The bill also provides that, if there is in effect at the date of the foreclosure sale a written property management agreement between the landlord and a real estate licensee licensed pursuant to the provisions of § 54.1-2106.1, the foreclosure shall convert the property management agreement into a month-to-month agreement between the successor landlord and the real estate licensee acting as a managing agent, except in the event that the terms of the original property management agreement between the landlord and the real estate licensee acting as a managing agent require an earlier termination date. Except in the event of foreclosure, the bill permits a real estate licensee acting on behalf of a landlord client as a managing agent who elects to terminate the property management agreement to transfer any funds held in escrow by the licensee to the landlord client without his consent, provided that the real estate licensee provides written notice to each tenant that the funds have been so transferred. The bill provides that, in the event of foreclosure, a real estate licensee shall not transfer any funds to a landlord client whose property has been foreclosed upon. The bill provides immunity, in the absence of gross negligence or intentional misconduct, to any such licensee acting in compliance with the provisions of § 54.1-2108.1. The bill clarifies that a tenant residing in a dwelling unit that has been foreclosed upon is eligible to file an assertion pursuant to § 55-225.12 and that a court may order any moneys accumulated in escrow to be paid to the successor landlord or the successor landlord's managing agent, if any."
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jurisdiction: "us/states/va"
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legislature: "Virginia General Assembly"
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session: "2017"
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identifier: "SB 966"
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citation: "Virginia SB 966 (2017)"
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classification: ["bill"]
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subjects: ["Professions and Occupations", "Property and Conveyances"]
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status: "enacted"
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primary_sponsors: ["Mark D. Obenshain"]
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version_count: 4
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action_count: 18
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vote_count: 6
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first_action: "2017-01-03"
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last_action: "2017-02-20"
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source: "openstates"
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source_identifier: "ocd-bill/5fdb388a-dd51-4ac4-9bfe-57265edee11f"
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source_url: "http://lis.virginia.gov/cgi-bin/legp604.exe?171+sum+SB966"
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source_hash: "984f49a510d24d52976ac48c4caee672821e8989ac96a83808e193748a612340"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-va"]
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---
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# Virginia SB 966 (2017) — Residential rental property.
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Provides that if a residential dwelling unit is foreclosed upon and a tenant is lawfully occupying the dwelling unit at the time of the foreclosure, the foreclosure shall act as a termination of the rental agreement by the landlord. The bill also provides that, if there is in effect at the date of the foreclosure sale a written property management agreement between the landlord and a real estate licensee licensed pursuant to the provisions of § 54.1-2106.1, the foreclosure shall convert the property management agreement into a month-to-month agreement between the successor landlord and the real estate licensee acting as a managing agent, except in the event that the terms of the original property management agreement between the landlord and the real estate licensee acting as a managing agent require an earlier termination date. Except in the event of foreclosure, the bill permits a real estate licensee acting on behalf of a landlord client as a managing agent who elects to terminate the property management agreement to transfer any funds held in escrow by the licensee to the landlord client without his consent, provided that the real estate licensee provides written notice to each tenant that the funds have been so transferred. The bill provides that, in the event of foreclosure, a real estate licensee shall not transfer any funds to a landlord client whose property has been foreclosed upon. The bill provides immunity, in the absence of gross negligence or intentional misconduct, to any such licensee acting in compliance with the provisions of § 54.1-2108.1. The bill clarifies that a tenant residing in a dwelling unit that has been foreclosed upon is eligible to file an assertion pursuant to § 55-225.12 and that a court may order any moneys accumulated in escrow to be paid to the successor landlord or the successor landlord's managing agent, if any.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Governor: Acts of Assembly Chapter text (CHAP0067)** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+CHAP0067)
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2. **Senate: Bill text as passed Senate and House (SB966ER)** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+SB966ER)
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3. **Senate: Committee substitute printed 17104907D-S1** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+SB966S1)
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4. **Senate: Prefiled and ordered printed; offered 01/11/17 17102231D** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+SB966)
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## Votes
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- Reported from Courts of Justice — **21–0** (pass) · legislature
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- Reported from General Laws and Technology with substitute — **15–0** (pass) · legislature
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- Constitutional reading dispensed — **40–0** (pass) · legislature
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- Passed Senate — **40–0** (pass) · legislature
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- Constitutional reading dispensed — **40–0** (pass) · legislature
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- Passed House BLOCK VOTE — **97–0** (pass) · legislature
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## Sponsors
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- Mark D. Obenshain — primary (person)
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- Lynwood W. Lewis, Jr. — cosponsor (person)
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- T. Montgomery "Monty" Mason — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2017-01-03** Prefiled and ordered printed; offered 01/11/17 17102231D `introduction`
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- **2017-01-03** Referred to Committee on General Laws and Technology `referral-committee`
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- **2017-02-02** Read second time `reading-2`
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- **2017-02-02** Reading of substitute waived
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- **2017-02-02** Committee substitute agreed to 17104907D-S1
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- **2017-02-02** Engrossed by Senate - committee substitute SB966S1
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- **2017-02-06** Placed on Calendar
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- **2017-02-06** Read first time `reading-1`
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- **2017-02-06** Referred to Committee for Courts of Justice `referral-committee`
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- **2017-02-10** Read second time `reading-2`
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- **2017-02-13** Read third time `reading-3`
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- **2017-02-13** Passed House BLOCK VOTE (97-Y 0-N) `passage`
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- **2017-02-14** Enrolled
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- **2017-02-14** Signed by Speaker
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- **2017-02-15** Signed by President
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- **2017-02-15** Enrolled Bill Communicated to Governor on 2/15/17
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- **2017-02-15** Governor's Action Deadline Midnight, February 22, 2017
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- **2017-02-20** Approved by Governor-Chapter 67 (effective 7/1/17) `executive-signature`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/5fdb388a-dd51-4ac4-9bfe-57265edee11f`. Confidence: reported (aggregated from official Virginia legislature records).
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