Bill Text: VA HB376 | 2022 | Regular Session | Prefiled
Bill Title: Virginia Residential Property Disclosure Act; residential property disclosure statement form.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2022-02-15 - Left in General Laws [HB376 Detail]
Download: Virginia-2022-HB376-Prefiled.html
Be it enacted by the General Assembly of Virginia:
1. That §54.1-2105.1 of the Code of Virginia is amended and reenacted as follows:
§54.1-2105.1. Other powers and duties of the Real Estate Board.
In addition to the provisions of §§54.1-2105.01 through 54.1-2105.04, the Board shall:
1. Develop a residential property disclosure statement form
for use in accordance with the provisions of the Virginia Residential Property
Disclosure Act (§55.1-700 et seq.) and maintain such statement on its website.
The Board shall also develop and maintain on its
website a one-page form
shall also include a statement to be signed by the parties
acknowledging that the purchaser has been advised of the disclosures listed in
the residential property disclosure statement located on the Board's website;
and
2. Inform licensed brokers, in a manner deemed appropriate by the Board, of the broker's ability to designate an agent pursuant to § 54.1-2109 in the event of the broker's death or disability.
