Resale Disclosure Act; established.
Purpose of legislation
Establishes the Resale Disclosure Act, which sets out disclosure requirements and authorized fees relating to contracts for the resale of property located within common interest communities and provides for the issuance of resale certificates or financial updates. Repeals the existing disclosure requirements and authorized fees relating to association disclosure packets under the Property Owners' Association Act and resale certificates under the Virginia Condominium Act.
|Legislation mandating a change||Chap 387 (2023) Chap 388 (2023)|
|VAC chapters to be amended||
18 vac 48 - 50 : Common Interest Community Manager Regulations
18 vac 48 - 60 : Common Interest Community Association Registration Regulations
18 vac 48 - 70 : Common Interest Community Ombudsman Regulations
|Associated Regulatory Actions||No regulatory action has been filed.|