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2022 SESSION
22102247DBe 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.