General Introduction


The requirements of a trustee are established by the terms of the deed of trust for the property in foreclosure and by the statutes in the Virginia Code.  All should be examined prior to any foreclosure proceeding and before filing an account with this office.

The commissioner’s office audits the account forms that trustees are required to file in proper format and sufficiently documented.

The commissioner’s office is not charged with or staffed for guiding a trustee through the foreclosure process and cannot provide legal advice.  If you need assistance beyond the resource material provided on this website, you may wish to consult with an attorney who has specialized foreclosure expertise.

Please note that the commissioner’s office does not have the authority to approve trustee’s commission if the trustee is delinquent in filing an account.  The trustee is delinquent if a first account is not filed within six months from the date of sale.  If the first account is not a final account because assets remain, then the final account is due within twelve months from the date of sale.  A trustee is delinquent if the first account was filed on time, but the final account is not filed within twelve months from the date of sale.

Account Filing Due Date and Format

In all foreclosure sales, trustees conducting sales under deeds of trust must file an account of the sale with the commissioner’s office within six months after the date of sale (auction date).    

The Virginia Supreme Court has not approved a unified form for foreclosure accounts. A suggested form of account is available on this website.

Please submit the Foreclosure Cover Sheet, available in the forms section of this website, when you file your account, along with the appropriate documentation in the same order as the checklist.  Submit the original account without binders, staples or paperclips, as the paperwork is scanned as one document into our system.  No copies are required.