Virginia Timeshare Foreclosure Bill Passes House

2012-02-17

Issue Brief

This week, bill HB 234 passed the House of Delegates. The bill contains provisions that would allow legal notice ads required in timeshare foreclosures to refer the reader to a website for more details regarding the foreclosure. These provisions would make it easier for an HOA to advertise the availability of timeshare interests at foreclosure sale. The bill passed the House of Delegates this week and now moves to the Senate and awaits committee assignment.

Impact

Legal publications are very costly. If the bill passes it will reduce the cost of foreclosing on a timeshare which will save timeshare HOAs money. 

Position/Call to Action

ARDA-ROC is actively lobbying on behalf of HB 234 in conjunction with the Virginia Resort Development Association (VRDA). 

Issue Updates

After passing the House of Delegates, HB 234 moved to the Senate and awaits committee assignment. Arda-roc.org will provide updates when they are available. 

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