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Questions and Answers
According to HB 2184, when can a settlement agent release judgement liens on property?
According to HB 2184, when can a settlement agent release judgement liens on property?
- When the settlement agent is unable to obtain payoff information
- When the lien creditor cannot be located
- When the judgment lien is older than three years
- All of the above (correct)
According to HB 2184, what is the maximum amount for judgments that can be covered by the bill?
According to HB 2184, what is the maximum amount for judgments that can be covered by the bill?
- $25,000 (correct)
- $100,000
- $1,000,000
- $50,000
According to HB 1888, what type of fees may a settlement agent not collect from a represented seller without written consent?
According to HB 1888, what type of fees may a settlement agent not collect from a represented seller without written consent?
- Fees payable to the settlement agent
- Fees payable to the settlement agent's subsidiaries
- Fees payable to the settlement agent's affiliates
- All of the above (correct)
According to HB 1888, when must a settlement agent obtain written consent to collect fees from a represented seller?
According to HB 1888, when must a settlement agent obtain written consent to collect fees from a represented seller?
Which bill allows a settlement agent to release judgment liens when the lien creditor cannot be located?
Which bill allows a settlement agent to release judgment liens when the lien creditor cannot be located?
Which bill covers judgment liens older than three years?
Which bill covers judgment liens older than three years?
According to HB 2184, what is the process for releasing a judgment lien when the lien creditor does not provide payoff information?
According to HB 2184, what is the process for releasing a judgment lien when the lien creditor does not provide payoff information?
According to HB 1888, what must a settlement agent do before collecting fees from a represented seller?
According to HB 1888, what must a settlement agent do before collecting fees from a represented seller?
According to HB 1888, what fees are the settlement agent prohibited from collecting without written consent?
According to HB 1888, what fees are the settlement agent prohibited from collecting without written consent?
Which bill adds language to the Virginia Real Estate Settlement Act regarding settlement fees?
Which bill adds language to the Virginia Real Estate Settlement Act regarding settlement fees?
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