Virginia

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. 

Va. holds deed's description of property based upon boundary road includes title to the center line.

Va. holds deed's description of property based upon boundary road includes title to the center line.

The Supreme Court of Virginia held that a deed’s legal description referring to a boundary road, includes title to the center line of the road, unless a contrary intent is shown. A description of the square footage of the property that excluded the area of the road did not show a contrary intent, because square footage is the least certain mode of describing land, which must yield to a description by boundaries and distances.