VA SB725

Increases the Technology Trust Fund Fee assessed by circuit court clerks from $5 to $8 per civil action, recorded deed instrument, and judgment lien docket entry

Allocates $6 of the new $8 fee (previously $4 of $5) to developing and updating land records automation plans, implementing modernization, obtaining technology equipment, preserving court records, and improving public access

Allocates the remaining $2 (previously $1) to individual circuit court clerks' offices for purposes enumerated in the bill, with priority given to offices whose deposits would be insufficient to implement modernization plans

Creates a new fee structure for recording "multipurpose deeds of trust or mortgage" documents: $200 for 10 or fewer pages, $250 for 11-30 pages, and $300 for 31 or more pages

Defines multipurpose deeds of trust or mortgages as documents serving multiple independent legal purposes (such as security agreements, assignments of rents and leases, or fixture filings) and requires them to be labeled on the first page as "THIS IS A MULTIPURPOSE DEED OF TRUST" or "THIS IS A MULTIPURPOSE MORTGAGE"