Va. Code §55.1-2308
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Resale Disclosure Act — Contract for Resale; Disclosures
Required disclosures in every contract for resale of a unit in a common interest community: that the unit is in a common interest community, the resale-certificate obligation, the cancellation right, the update right, and that rights are conclusively waived if not exercised before settlement.
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Statutory Text
Verified Aug 5, 2026 · OTHER
Virginia Law Code of Virginia Title 55.1. Property and Conveyances Chapter 23.1. Resale Disclosure Act 8/6/2026 § 55.1-2308 . Contract for resale; disclosures. Unless exempt pursuant to § 55.1-2317 , any contract for the resale of a unit in a common interest community shall disclose (i) that the unit is located in a common interest community; (ii) that the seller or the seller's agent is required to obtain from the association a resale certificate and provide it to the purchaser or the purchaser's agent; (iii) the purchaser's right to cancel the contract pursuant to § 55.1-2312 ; (iv) that the purchaser or the purchaser's agent may request an updated resale certificate pursuant to § 55.1-2311 ; and (v) that the purchaser's right to receive the resale certificate and the right to cancel the contract are waived conclusively if not exercised before settlement. If the contract does not contain the disclosures required by this section, the purchaser's sole remedy is to cancel the contract prior to settlement. 2023, cc. 387 , 388 ; 2024, cc. 54 , 511 .
Disclosure
| Ref | Requirement |
|---|---|
| The sales contract itself has to tell the buyer about the resale certificate and the right to cancel. |
Other sections in this chapter
- Va. Code §55.1-1800 — Property Owners' Association Act — Definitions
- Va. Code §55.1-1801 — Property Owners' Association Act — Applicability
- Va. Code §55.1-1805 — Property Owners' Association Act — Association Charges
- Va. Code §55.1-1815 — Property Owners' Association Act — Access to Records; Association Meetings; Notice
- Va. Code §55.1-1816 — Property Owners' Association Act — Meetings of the Board of Directors
- Va. Code §55.1-1819 — Property Owners' Association Act — Adoption and Enforcement of Rules
- Va. Code §55.1-1820 — Property Owners' Association Act — Display of the Flag of the United States
- Va. Code §55.1-1824 — Property Owners' Association Act — Assessments; Late Fees
- Va. Code §55.1-1826 — Property Owners' Association Act — Annual Budget; Reserve Study
- Va. Code §55.1-1830 — Property Owners' Association Act — Validity of Declaration; Corrective Amendments
- Va. Code §55.1-1833 — Property Owners' Association Act — Lien for Assessments; Foreclosure
- Va. Code §55.1-1835 — Property Owners' Association Act — Annual Report by Association
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Legal references last verified July 9, 2026.
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