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1998 SESSION
HB 1158 Residential Real Property Disclosure Act.
Introduced by: Roger J. McClure | all patrons ... notes | add to my profiles
SUMMARY:
Virginia Residential Real Property Disclosure Act. Requires the builder of a new dwelling to disclose in writing to the purchaser thereof that portion of the purchase price, expressed in dollars, which relates directly to the cost of complying with local government requirements governing the construction of the dwelling. Currently, a builder is required to disclose all known material defects which would constitute a violation of any applicable building code. The bill provides that failure of the builder to provide written disclosure as to the cost of complying with local regulation shall not affect the validity of the purchase contract nor shall such failure establish any additional rights of the parties to the purchase contract.
FULL TEXT
HISTORY
- 01/26/98 House: Presented & ordered printed 989355346
- 01/26/98 House: Referred to Committee on General Laws
- 01/28/98 House: Assigned to General Laws sub-committee: 1
- 02/11/98 House: Continued to 1999 in General Laws (26-Y 0-N)