Bill > HB2235

This bill 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. The bill requires a seller to obtain a resale certificate from the association and provide it to the purchaser. The bill also provides the purchaser a right to cancel the contract within a certain timeframe if the resale certificate is not provided or is incomplete. The bill 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. The bill does not apply to contracts ratified prior to July 1, 2023.

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https://lis.virginia.gov/cgi-bin/legp604.exe?231+sum+HB2235