SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2023 SESSION
23103841DBe it enacted by the General Assembly of Virginia:
1. That § 55.1-703 of the Code of Virginia is amended and reenacted and that the Code of Virginia is amended by adding in Article 5 of Chapter 9 of Title 15.2 a section numbered 15.2-987 and by adding a section numbered 55.1-708.3 as follows:
§ 15.2-987. Notice of property containing a resource protection area.
Any locality subject to the provisions of the Chesapeake Bay Preservation Act (§ 62.1-44.15:67 et seq.) shall, on a yearly basis, send to every owner of real property containing a resource protection area written notice informing the owner of the importance of such fact and the penalties that may be imposed by the locality for a violation of any zoning, subdivision, or other ordinance adopted in accordance with the Chesapeake Bay Preservation Act.
§ 55.1-703. Required disclosures for buyer to beware; buyer to exercise necessary due diligence.
A. The owner of the residential real property shall furnish to a purchaser a residential property disclosure statement for the buyer to beware of certain matters that may affect the buyer's decision to purchase such real property. Such statement shall be provided by the Real Estate Board on its website.
B. The residential property disclosure statement provided by the Real Estate Board on its website shall include the following:
1. The owner makes no representations or warranties as to the condition of the real property or any improvements thereon, or with regard to any covenants and restrictions, or any conveyances of mineral rights, as may be recorded among the land records affecting the real property or any improvements thereon, and purchasers are advised to exercise whatever due diligence a particular purchaser deems necessary, including obtaining a home inspection, as defined in § 54.1-500, a mold assessment conducted by a business that follows the guidelines provided by the U.S. Environmental Protection Agency, and a residential building energy analysis, as defined in § 54.1-1144, in accordance with terms and conditions as may be contained in the real estate purchase contract, but in any event prior to settlement pursuant to such contract;
2. The owner makes no representation with respect to current lot lines or the ability to expand, improve, or add any structures on the property, and purchasers are advised to exercise whatever due diligence a particular purchaser deems necessary, including obtaining a property survey and contacting the locality to determine zoning ordinances or lot coverage, height, or setback requirements on the property.
3. The owner makes no representations with respect to any matters that may pertain to parcels adjacent to the subject parcel, including zoning classification or permitted uses of adjacent parcels, and purchasers are advised to exercise whatever due diligence a particular purchaser deems necessary with respect to adjacent parcels in accordance with terms and conditions as may be contained in the real estate purchase contract, but in any event prior to settlement pursuant to such contract;
4. The owner makes no representations to any matters that pertain to whether the provisions of any historic district ordinance affect the property, and purchasers are advised to exercise whatever due diligence a particular purchaser deems necessary with respect to any historic district designated by the locality pursuant to § 15.2-2306, including review of (i) any local ordinance creating such district, (ii) any official map adopted by the locality depicting historic districts, and (iii) any materials available from the locality that explain (a) any requirements to alter, reconstruct, renovate, restore, or demolish buildings or signs in the local historic district and (b) the necessity of any local review board or governing body approvals prior to doing any work on a property located in a local historic district, in accordance with terms and conditions as may be contained in the real estate purchase contract, but in any event prior to settlement pursuant to such contract;
5. The owner makes no
representations with respect to whether the property contains any resource
protection areas established in an ordinance implementing the Chesapeake Bay
Preservation Act (§ 62.1-44.15:67 et seq.) adopted by the locality where the
property is located pursuant to § 62.1-44.15:74, and purchasers are advised to
exercise whatever due diligence a particular purchaser deems necessary to
determine whether the provisions of any such ordinance affect the property,
including review of any official map adopted by the locality depicting resource
protection areas, in accordance with terms and conditions as may be contained
in the real estate purchase contract, but in any event prior to settlement
pursuant to such contract;
6. The
owner makes no representations with respect to information on any sexual
offenders registered under Chapter 23 (§ 19.2-387 et seq.) of Title 19.2, and
purchasers are advised to exercise whatever due diligence they deem necessary
with respect to such information, in accordance with terms and conditions as
may be contained in the real estate purchase contract, but in any event prior
to settlement pursuant to such contract;
7. 6. The owner makes no
representations with respect to whether the property is within a dam break
inundation zone. Such disclosure statement shall advise purchasers to exercise
whatever due diligence they deem necessary with respect to whether the property
resides within a dam break inundation zone, including a review of any map
adopted by the locality depicting dam break inundation zones;
8. 7. The owner makes no
representations with respect to the presence of any wastewater system,
including the type or size of the wastewater system or associated maintenance
responsibilities related to the wastewater system, located on the property, and
purchasers are advised to exercise whatever due diligence they deem necessary
to determine the presence of any wastewater system on the property and the
costs associated with maintaining, repairing, or inspecting any wastewater
system, including any costs or requirements related to the pump-out of septic
tanks, in accordance with terms and conditions as may be contained in the real
estate purchase contract, but in any event prior to settlement pursuant to such
contract;
9. 8. The owner makes no
representations with respect to any right to install or use solar energy
collection devices on the property;
10. 9. The owner makes no
representations with respect to whether the property is located in one or more
special flood hazard areas, and purchasers are advised to exercise whatever due
diligence they deem necessary, including (i) obtaining a flood certification or
mortgage lender determination of whether the property is located in one or more
special flood hazard areas, (ii) reviewing any map depicting special flood
hazard areas, (iii) contacting the Federal Emergency Management Agency (FEMA)
or visiting the website for FEMA's National Flood Insurance Program or the
Virginia Flood Risk Information website operated by the Department of
Conservation and Recreation, and (iv) determining whether flood insurance is
required, in accordance with terms and conditions as may be contained in the
real estate purchase contract, but in any event prior to settlement pursuant to
such contract. A flood risk information form, pursuant to the provisions of
subsection D, that provides additional information on flood risk and flood
insurance is available for download by the Real Estate Board on its website;
11. 10. The owner makes no
representations with respect to whether the property is subject to one or more
conservation or other easements, and purchasers are advised to exercise
whatever due diligence a particular purchaser deems necessary in accordance
with terms and conditions as may be contained in the real estate purchase
contract, but in any event prior to settlement pursuant to such contract;
12. 11. The owner makes no
representations with respect to whether the property is subject to a community
development authority approved by a local governing body pursuant to Article 6
(§ 15.2-5152 et seq.) of Chapter 51 of Title 15.2, and purchasers are advised
to exercise whatever due diligence a particular purchaser deems necessary in
accordance with terms and conditions as may be contained in the real estate
purchase contract, including determining whether a copy of the resolution or
ordinance has been recorded in the land records of the circuit court for the
locality in which the community development authority district is located for
each tax parcel included in the district pursuant to § 15.2-5157, but in any
event prior to settlement pursuant to such contract;
13. 12. The owner makes no
representations with respect to whether the property is located on or near
deposits of marine clays (marumsco soils), and purchasers are advised to exercise
whatever due diligence a particular purchaser deems necessary in accordance
with terms and conditions as may be contained in the real estate purchase
contract, including consulting public resources regarding local soil conditions
and having the soil and structural conditions of the property analyzed by a
qualified professional;
14. 13. The owner makes no
representations with respect to whether the property is located in a locality
classified as Zone 1 or Zone 2 by the U.S. Environmental Protection Agency's
(EPA) Map of Radon Zones, and purchasers are advised to exercise whatever due
diligence they deem necessary to determine whether the property is located in
such a zone, including (i) reviewing the EPA's Map of Radon Zones or visiting
the EPA's radon information website; (ii) visiting the Virginia Department of
Health's Indoor Radon Program website; (iii) visiting the National Radon
Proficiency Program's website; (iv) visiting the National Radon Safety Board's
website that lists the Board's certified contractors; and (v) ordering a radon
inspection, in accordance with the terms and conditions as may be contained in
the real estate purchase contract, but in any event prior to settlement
pursuant to such contract;
15. 14. The owner makes no
representations with respect to whether the property contains any pipe, pipe or
plumbing fitting, fixture, solder, or flux that does not meet the federal Safe
Drinking Water Act definition of "lead free" pursuant to 42 U.S.C. §
300g-6, and purchasers are advised to exercise whatever due diligence they deem
necessary to determine whether the property contains any pipe, pipe or plumbing
fitting, fixture, solder, or flux that does not meet the federal Safe Drinking
Water Act definition of "lead free," in accordance with terms and
conditions as may be contained in the real estate purchase contract, but in any
event prior to settlement pursuant to such contract;
16. 15. The owner makes no
representations with respect to the existence of defective drywall on the
property, and purchasers are advised to exercise whatever due diligence they
deem necessary to determine whether there is defective drywall on the property,
in accordance with terms and conditions as may be contained in the real estate
purchase contract, but in any event prior to settlement pursuant to such
contract. For purposes of this subdivision, "defective drywall" means
the same as that term is defined in § 36-156.1; and
17. 16. The owner makes no
representation with respect to the condition or regulatory status of any
impounding structure or dam on the property or under the ownership of the
common interest community that the owner of the property is required to join,
and purchasers are advised to exercise whatever due diligence a particular
purchaser deems necessary to determine the condition, regulatory status, cost
of required maintenance and operation, or other relevant information pertaining
to the impounding structure or dam, including contacting the Department of
Conservation and Recreation or a licensed professional engineer.
C. The residential property disclosure statement shall be delivered in accordance with § 55.1-709.
D. The Real Estate Board shall make available on its website a flood risk information form. Such form shall be substantially as follows:
Flood Risk Information Form
The purpose of this information form is to provide property owners and potential property owners with information regarding flood risk. This information form does not determine whether a property owner will be required to purchase a flood insurance policy. That determination is made by the lender providing a loan for the property at the lender's discretion.
Mortgage lenders are mandated under the Flood Disaster Protection Act of 1973 and the National Flood Insurance Reform Act of 1994 to require the purchase of flood insurance by property owners who acquire loans from federally regulated, supervised, or insured financial institutions for the acquisition or improvement of land, facilities, or structures located within or to be located within a Special Flood Hazard Area. A Special Flood Hazard Area (SFHA) is a high-risk area defined as any land that would be inundated by a flood, also known as a base flood, having a one percent chance of occurring in a given year. The lender reviews the current National Flood Insurance Program (NFIP) maps for the community in which the property is located to determine its location relative to the published SFHA and completes the Standard Flood Hazard Determination Form (SFHDF), created by the Federal Emergency Management Agency (FEMA). If the lender determines that the structure is indeed located within a SFHA and the community is participating in the NFIP, the borrower is then notified that flood insurance will be required as a condition of receiving the loan. A similar review and notification are completed whenever a loan is sold on the secondary loan market or when the lender completes a routine review of its mortgage portfolio.
Properties that are not located in a SFHA can still flood. Flood damage is not generally covered by a standard home insurance policy. It is prudent to consider purchasing flood insurance even when flood insurance is not required by a lender. Properties not located in a SFHA may be eligible for a low-cost preferred risk flood insurance policy. Property owners and buyers are encouraged to consult with their insurance agent about flood insurance.
What is a flood? A flood is a general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties, at least one of which is the policyholder's property, from (i) overflow of inland or tidal waters, (ii) unusual and rapid accumulation or runoff of surface waters from any source, (iii) mudflow, or (iv) collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood.
FEMA is required to update Flood Maps every five years. Flood zones for this property may change due to periodic map updates. To determine what flood zone or zones a property is located in a buyer can visit the website for FEMA's National Flood Insurance Program or the Virginia Department of Conservation and Recreation's Flood Risk Information System website.
§ 55.1-708.3. Required disclosures; resource protection areas.
The owner of residential real property located in the Commonwealth who has actual knowledge that the property contains a resource protection area established in an ordinance implementing the Chesapeake Bay Preservation Act (§ 62.1-44.15:67 et seq.) adopted by the locality where the property is located pursuant to § 62.1-44.15:74 shall disclose such fact to the purchaser. Such disclosure shall be provided to the purchaser in accordance with this chapter on a form provided by the Real Estate Board on its website.