Bill
Bill > HB621
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Property Owners' Association Act; disclosure requirements; declarant control. Requires a declarant who has any unexpired right to control the conduct of business of a property owners' association, once the majority of the members of the board of directors other than the declarant are owners of improved lots in the association, to disclose such rights and the status of the declarant's control in any contract for the sale of any lot in the association other than for development or resale. This bill is a recommendation of the Virginia Housing Commission.
AI Summary
This bill, a recommendation of the Virginia Housing Commission, requires a declarant, who is the original developer of a property owners' association (POA), to disclose any remaining rights they have to control the association's business, such as appointing board members, when they sell a lot. This disclosure must be included in any contract for the sale of a lot, unless the sale is for development or resale purposes. Additionally, the bill amends the requirements for a resale certificate, which is a document provided to potential buyers of a property within an association, by adding a specific statement about any unexpired rights the declarant has to control the association's business.
Committee Categories
Business and Industry, Justice
Sponsors (1)
Last Action
Continued to next session in General Laws (Voice Vote) (on 02/12/2026)
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/HB621 |
| Fiscal Note/Analysis - Fiscal Impact Statement from Department of Planning and Budget (HB621) | https://lis.blob.core.windows.net/files/1100097.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/HB621/text/HB621 |
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