2025 SESSION
INTRODUCED
25101201D
HOUSE BILL NO. 1689
Offered January 8, 2025
Prefiled January 3, 2025
A BILL to amend and reenact 54.1-2105.1 of the Code of Virginia, relating to Virginia Residential Property Disclosure Act; Real Estate Board; residential property disclosure statement form.
PatronConvirs-Fowler
Committee Referral Pending
Be it enacted by the General Assembly of Virginia:
1. That 54.1-2105.1 of the Code of Virginia is amended and reenacted as follows:
54.1-2105.1. Other powers and duties of the Real Estate Board.
In addition to the provisions of 54.1-2105.01 through 54.1-2105.04, the Board shall:
1. Develop a residential property disclosure statement form for use in accordance with the provisions of the Virginia Residential Property Disclosure Act ( 55.1-700 et seq.) and maintain such statement on its website. The Board shall also develop and maintain on its website a one-page form shall also include a statement to be signed by the parties acknowledging that the purchaser has been advised of the disclosures listed in the residential property disclosure statement located on the Board's website; and
2. Inform licensed brokers, in a manner deemed appropriate by the Board, of the broker's requirement, pursuant to 54.1-2109, to designate another licensed broker to carry on the business for up to 180 days for the sole purpose of concluding the business of such designating broker in the event of the designating broker's death or disability.