summary
Introduced
01/07/2026
01/07/2026
In Committee
01/07/2026
01/07/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Prohibited acquisition of single-family homes; affidavit; civil penalty. Restricts any partnership, corporation, or real estate investment trust that manages funds pooled from investors, is a fiduciary to such investors, has net value or assets under management on any day during a taxable year, and holds an interest in more than 50 single-family homes from acquiring any interest in any other single-family home, as defined in the bill to include manufactured home parks and residential single-family homes split into multiple dwellings, on or after July 1, 2026. The bill also requires an offering purchaser of a manufactured home park to provide a notarized affidavit certifying that the purchaser is not prohibited from acquiring such an interest. Any false statements on such affidavit is subject to a civil penalty of up to $10,000 per occurrence.
AI Summary
This bill prohibits certain investment entities, defined as "prohibited businesses" (partnerships, corporations, or real estate investment trusts that manage pooled investor funds, act as fiduciaries, have significant assets under management, and own more than 50 single-family homes), from acquiring any interest in a single-family home, which broadly includes manufactured home parks and residential homes divided into multiple dwellings, starting July 1, 2026. The bill also requires any purchaser of a manufactured home park to submit a notarized affidavit confirming they are not a prohibited business, and making false statements on this affidavit can result in a civil penalty of up to $10,000 per instance. This legislation aims to protect citizens by limiting the acquisition of residential properties by large investment entities.
Committee Categories
Education, Justice
Sponsors (1)
Last Action
Left in Committee Courts of Justice (on 02/18/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20261/HB202 |
| Fiscal Note/Analysis - Fiscal Impact Statement from Department of Planning and Budget (HB202) | https://lis.blob.core.windows.net/files/1096402.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/HB202/text/HB202 |
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