Virginia Residential Property Disclosure Act, etc.; required disclosures. (HB858)

Introduced By

Del. Kelly Fowler (D-Virginia Beach) with support from co-patron Del. Glenn Davis (R-Virginia Beach)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Virginia Residential Property Disclosure Act and Virginia Residential Landlord and Tenant Act; required disclosures; impounding structures, dams, flood hazard areas, and stormwater management facilities. Requires the owner of residential real property who has actual knowledge that the property is located in one or more special flood hazard areas to provide a disclosure that states such information to a potential purchaser. The owner of any residential real property upon which a stormwater management facility is located is required to provide to a prospective purchaser a written disclosure that includes specifications, requirements, and a schedule of audits of such facility. Such disclosures are to be made on forms provided by the Real Estate Board on its website. The bill also requires the landlord of a dwelling unit that has actual knowledge that the dwelling unit is on property that is located in a special flood hazard area to provide to a prospective tenant a written disclosure that states such information prior to the execution by the tenant of a written lease agreement or, in the case of an oral lease agreement, prior to occupancy by the tenant. Any tenant who is not provided the required disclosure may terminate the lease agreement at any time within 60 days of discovery that the property is located in a special flood hazard area. The bill adds to the required disclosures for the buyer to beware that 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 due diligence in determining such information. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/07/2020Committee
01/07/2020Prefiled and ordered printed; offered 01/08/20 20104792D
01/07/2020Referred to Committee on General Laws
01/13/2020Impact statement from DPB (HB858)
01/15/2020Assigned GL sub: Housing/Consumer Protection
01/30/2020House subcommittee amendments and substitutes offered
02/11/2020Left in General Laws

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