Fiduciary Duty

Va. Holds Trustee’s Fiduciary Duty May Be Breached Where Foreclosure Sale Price Grossly Inadequate

Va. Holds Trustee’s Fiduciary Duty May Be Breached Where Foreclosure Sale Price Grossly Inadequate

Supreme Court of Virginia holds that Borrower stated a claim against foreclosure trustee for breach of duty of impartiality , where property was sold at a grossly inadequate price, at a disproportionate expense to the Borrower, given that the lender’s loan was paid in full.