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HB 448

Land records; certain financing statements, recording and indexing fees.

2026 Regular Session Introduced by Marcus Simon

HB 448 adjusts Virginia's land record filing fees for financing statements, potentially reducing transaction costs or improving UCC filing efficiency.

Reported from Courts of Justice (22-Y 0-N)
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WeVote Research Nonpartisan
Bill Summary · HB 448

Legislative bill overview

HB 448 modifies Virginia's land records system by adjusting recording and indexing fees associated with certain financing statements. The bill appears to streamline fee structures for UCC (Uniform Commercial Code) filings and related land record documentation. These changes affect how local clerks process and index financial instruments related to property.

Why is this important

Land recording fees directly impact the cost of conducting real estate transactions, securing loans, and perfecting security interests in property. Adjusting these fees can affect accessibility to the land records system for small businesses, farmers, and individuals seeking financing. Even modest fee changes accumulate significantly across Virginia's numerous transactions annually.

Potential points of contention

  • Fee structure clarity: The specific fee adjustments aren't detailed in available summaries, making it unclear whether fees increase or decrease and which stakeholder groups bear the impact
  • Revenue implications: Changes may affect local government revenues that depend on recording fees to fund clerk operations and land record maintenance
  • Uniformity concerns: Modifications could create uneven burdens across Virginia's counties if implementation or indexing standards vary by locality

Compiled from official sources — confirm details with the bill’s official record.

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