Va. Code § 55.1-2308

Current with changes from the 2024 legislative session through ch. 845
Section 55.1-2308 - Contract for resale; disclosures

Unless exempt pursuant to § 55.1-2317, any contract for the resale of a unit in a common interest community shall disclose (i) that the unit is located in a common interest community; (ii) that the seller or the seller's agent is required to obtain from the association a resale certificate and provide it to the purchaser or the purchaser's agent; (iii) the purchaser's right to cancel the contract pursuant to § 55.1-2312; (iv) that the purchaser or the purchaser's agent may request an updated resale certificate pursuant to § 55.1-2311; and (v) that the purchaser's right to receive the resale certificate and the right to cancel the contract are waived conclusively if not exercised before settlement. If the contract does not contain the disclosures required by this section, the purchaser's sole remedy is to cancel the contract prior to settlement.

Va. Code § 55.1-2308

2023, cc. 387, 388.
Amended by Acts 2024 c. 511,§ 1, eff. 7/1/2024.
Amended by Acts 2024 c. 54,§ 1, eff. 7/1/2024.
Amended by Acts 2023 c. 388,§ 1, eff. 7/1/2023.
Added by Acts 2023 c. 387,§ 1, eff. 7/1/2023.