Virginia House of Delegates bill in Session 2026.
Status: enacted. Latest action: April 13, 2026.
Conventional home mortgage loans; assumption provisions.
Conventional home mortgage loans; assumption provisions. Requires any lender for any conventional home mortgage loan secured on or after July 1, 2026, by a mortgage or deed of trust on owner-occupied residential real estate to include provisions in such loan to allow for any of the existing borrowers to purchase the property interest of another borrower on the loan by assuming the seller's portion of the mortgage in connection with a decree of annulment or divorce if the assuming borrower qualifies for the underlying loan, as determined by the lender.
| Date | Event | Detail |
|---|---|---|
| 2026-01-09 | Introduced | Bill introduced |
| 2026-04-13 | Status | enacted |
| 2026-04-13 | Latest Action | Approved by Governor-Chapter 962 (effective 7/1/2026) |