On Apr. 24, 2025, WV LEG reported governor signed bill into law, effective Jul. 11.
Document dated Apr. 21, 2025, was added on Jun. 11, 2025, due to editorial backfill.
On Apr. 21, WV LEG passed bill on the modification of certain deeds.
WV LEG passed SB 102 related to showing beneficial ownership in mortgage or deeds.
Amend Code of West Virginia WV LEG 39-1-39-1-2, on admitting deeds into record.
Bill Provisions
For mortgage or deed of trust securing issue of negotiable notes or bonds exceeding 5, payable to bearer, not be necessary mortgage or deed of trust show beneficial owners.
In such case such mortgage or deed of trust must show name and address of person or corporation with or by whom notes or bonds have been, or to be, first negotiated.
Also, required quitclaim deed without consideration or deed effecting transfer of real property where value of property transferred is $100 or less which no excise tax paid.
Must be signed by grantee or proved by two witnesses as to grantee before clerk of county commission, exceptions for transfers on death and between family members.
Legislative History
On Feb. 12, 2025, bill introduced into Senate; on Mar. 13, 2025, bill passed Senate.
On Mar. 18, 2025, bill introduced into House; on Apr. 11, 2025, bill passed the House.
On Apr. 12, 2025, Senate concurred; on Apr. 21, 2025, bill delivered to governor.
Effectiveness
If enacted, become effective 90 days from date bill passed legislature (Jul. 11, 2025).
Apr. 24, 2025 WV LEG Governor Approval
On Apr. 24, 2025, WV LEG reported governor signed bill into law, effective Jul. 11.
Document dated Apr. 21, 2025, was added on Jun. 11, 2025, due to editorial backfill.
Regulators
WV LEG
Entity Types
Corp; MG Orig; Servicer
Reference
Act, 4/24/2025; Bill SB102, 4/21/2025; Citation: WV LEG 39-1-39-1-2;
