Virginia Real Estate Time-Share Act; alternative purchases.
Purpose of legislation
Removes the requirement under the Virginia Real Estate Time-Share Act that a time-share instrument state whether the developer reserves the right to add or delete any alternative purchase. Requires that the public offering statement distributed to each prospective purchaser disclose whether the developer will offer any alternative purchase.
|Legislation mandating a change||Chap 52 (2023) Chap 53 (2023)|
|VAC chapters to be amended||
18 vac 48 - 45 : Time-Share Regulations
|Associated Regulatory Actions||No regulatory action has been filed.|