VA SB316

Requires circuit court clerks with electronic land records filing systems to establish free property alert notification systems that notify property owners when documents affecting their real property are filed.

Mandates new notary public applicants complete a 4-hour course of instruction, including 1 hour on real estate fraud and financial exploitation of elderly persons, plus pass a written examination before being commissioned.

Requires notaries applying for recommission to complete a 2-hour refresher course, including 1 hour on real estate fraud and elder financial exploitation, with each renewal.

Establishes that settlement agents must exercise ordinary care to verify seller identity prior to real estate closings, using methods such as photo identification, signature comparison, or credit checks, with liability protection for agents who follow these procedures.

Takes effect July 1, 2027, with the Secretary of the Commonwealth required to develop notary training curricula by January 1, 2027.