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2018 SESSION

• | print version

SB 195 Virginia Residential Rent-to-Own Real Estate Contracts Act; created.

Introduced by: Mamie E. Locke | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Residential Rent-to-Own Real Estate Contracts Act; civil penalties. Creates the Virginia Residential Rent-to-Own Real Estate Contracts Act that establishes contract requirements and prohibitions for installment land contracts and lease-option contracts as defined in the bill. Under the bill, a violation by a person who sells, or proposes to sell, real property under an installment land contract or lease-option contract constitutes a fraudulent act or practice for purposes of applying the Virginia Consumer Protection Act.

FULL TEXT

• 01/01/18  Senate: Prefiled and ordered printed; offered 01/10/18 18101656D  pdf | impact statement

AMENDMENTS

• Senate committee amendments

HISTORY

• 01/01/18  Senate: Prefiled and ordered printed; offered 01/10/18 18101656D
• 01/01/18  Senate: Referred to Committee on General Laws and Technology
• 01/22/18  Senate: Committee amendments
• 01/22/18  Senate: Passed by indefinitely in General Laws and Technology with letter (15-Y 0-N)