SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2021 SPECIAL SESSION I

  • | print version

SB 1389 Real property; required disclosures for buyer to exercise due diligence, flood risk report.

Introduced by: Lynwood W. Lewis, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Virginia Residential Property Disclosure Act; required disclosures; repetitive risk loss structure; flood risk information form. Requires the Real Estate Board to make available on its website a flood risk information form, the details of which are outlined in the bill. The bill also provides that an owner of residential real property located in the Commonwealth who has actual knowledge that the dwelling unit is a repetitive risk loss structure, as defined in the bill, shall disclose such fact to the purchaser on a form provided by the Real Estate Board on its website. The bill has a delayed effective date of January 1, 2022. This bill is identical to HB 2320.


FULL TEXT

AMENDMENTS

HISTORY