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2020 SESSION

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SB 343 Dams; disclosure statements.

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

SUMMARY AS PASSED:

Virginia Residential Property Disclosure Act; required disclosures for buyer to beware; impounding structures or dams. Directs the Real Estate Board to include in the residential property disclosure statement provided on its website a disclosure relating to the condition or regulatory status of any impounding structure or dam on the owner's property or under the ownership of a common interest community that the owner of the property is required to join. As introduced, this bill was a recommendation of the Virginia Housing Commission. This bill is identical to HB 1569.

SUMMARY AS INTRODUCED:

Virginia Residential Property Disclosure Act; required disclosures for buyer to beware; impounding structures or dams. Adds to the residential property disclosure statement provided by the Real Estate Board an additional required disclosure for the buyer to beware in regard to the condition or regulatory status of an impounding structure or dam either on the property or under the ownership of the common interest community of which the owner is a mandatory member. This bill is a recommendation of the Virginia Housing Commission.