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2014 SESSION
Be it enacted by the General Assembly of Virginia:
1. That § 55-522 of the Code of Virginia is amended and reenacted as follows:
§ 55-522. Change in circumstances.
If information disclosed in accordance with this chapter is
subsequently rendered or discovered to be inaccurate as a result of any act,
occurrence, information received, circumstance or agreement subsequent to the
delivery of the required disclosures, the inaccuracy resulting therefrom does
not constitute a violation of this chapter. However, at or before settlement,
the owner shall be required to disclose any material change in the disclosures
made relative to the property or certify to the purchaser at
settlement that the disclosures made relative to the property are substantially
the same as it was when the disclosure form was provided. If, at the time
the disclosures are required to be made, an item of information required to be
disclosed is unknown or not available to the owner, the owner may state that
the information is unknown or may use an approximation of the information,
provided the approximation is clearly identified as such, is reasonable, is
based on the actual knowledge of the owner, and is not used for the purpose of
circumventing or evading this chapter.