Law.lis.virginia.gov [2021]

Code of Virginia Code

As a party to a real estate transaction, the purchaser or borrower is entitled to receive a copy of these guidelines from his settlement agent, upon request, in accordance with the provisions of Chapter 10 (§ 55.1-1000 et seq.) of Title 55.1 of the Code of Virginia." 1997, c. 716, § 6.1-2.22; 2009, c. 140; 2010, c. 794, § 55-525.23; 2019, c

Actived: Just Now

URL: https://law.lis.virginia.gov/vacodefull/title55.1/chapter10/

§ 64.2-510. Affidavit relating to real estate of intestate

(1 days ago) § 64.2-510. Affidavit relating to real estate of intestate decedent. A. Any person having an interest in real estate that is part of an intestate decedent's estate, including a personal representative who has qualified, may execute an affidavit, on a form provided to each clerk of the court by the Office of the Executive Secretary of the Supreme Court or a computer-generated facsimile thereof

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Code of Virginia Code

(6 days ago) Protection of escrow funds, etc., held by a real estate broker in the event of foreclosure of real property; required deposits § 54.1-2108.2 Protection of escrow funds, etc., held by a real estate broker in the event of termination of a real estate purchase contract § 54.1-2109 Death or disability of a broker § 54.1-2110

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§ 54.1-2106.1. Licenses required

(5 days ago) Real Estate Brokers, Sales Persons and Rental Location Agents. 6/30/2021. § 54.1-2106.1. Licenses required. A. No business entity, other than a sole proprietorship, shall act, offer to act, or advertise to act, as a real estate firm without a real estate firm license from the Board. Such firm may be granted a license in a fictitious name.

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18VAC135-20-170. Maintenance of licenses.

(8 days ago) Virginia Real Estate Board Licensing Regulations. 6/30/2021. 18VAC135-20-170. Maintenance of licenses. A. Name and address. 1. Salespersons and individual brokers shall at all times keep the board informed of their current name and home address. Changes of name and address must be reported to the board in writing within 30 calendar days of such

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§ 55.1-1007. Disclosure

(3 days ago) Real Estate Settlement Agents. § 55.1-1007. Disclosure. All contracts involving the purchase of real estate containing not more than four residential dwelling units shall include in at least 10-point boldface type the following language: "Choice of Settlement Agent: Chapter 10 (§ 55.1-1000 et seq.) of Title 55.1 of the Code of Virginia

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Virginia Residential Landlord and Tenant Act

(3 days ago) A hotel, motel, extended stay facility, vacation residential facility, including those governed by the Virginia Real Estate Time-Share Act (§ 55.1-2200 et seq.), boardinghouse, or similar transient lodging shall be exempt from the provisions of this chapter if overnight sleeping accommodations are furnished to a person for consideration if

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§ 64.2-200. Course of descents generally; right of

(1 days ago) The real estate of any decedent not effectively disposed of by will descends and passes by intestate succession in the following course: 1. To the surviving spouse of the decedent, unless the decedent is survived by children or their descendants, one or more of whom are not children or their descendants of the surviving spouse, in which case

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§ 64.2-509. List of heirs

(1 days ago) § 64.2-509. List of heirs. A. Every personal representative of a decedent, whether the decedent died testate or intestate, shall, at the time of his qualification, and every proponent of a will where there is no qualification of a personal representative, shall, at the time the will is presented for probate, furnish a list of heirs under oath in accordance with a form provided to each clerk

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§ 59.1-21.3. Cancellation of sale

(4 days ago) § 59.1-21.3. Cancellation of sale. (1) Except as provided in subsection (5), in addition to any right otherwise to revoke an offer, the buyer has the right to cancel a home solicitation sale until midnight of the third business day after the day on which the buyer signs an agreement or offer to purchase which complies with § 59.1-21.4. (2) Cancellation occurs when the buyer gives written

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23VAC10-120-160. Property factor.

(8 days ago) 23VAC10-120-160. Property factor. A. In general. 1. The property factor is a fraction. The numerator is the average value of real and tangible personal property which is used in Virginia. The denominator is the average value of real and tangible personal property which is used everywhere. Property shall be included in the property factor if it is:

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Property Owners' Association Act

(Just Now) "Ratified real estate contract" includes any addendum to such contract. "Receives," "received," or "receiving" the disclosure packet means that the purchaser or purchaser's authorized agent has received the disclosure packet by one of the methods specified in this section.

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§ 8.01-458. (Effective January 1, 2022) From what time

(2 days ago) Code of Virginia. Table of Contents » Title 8.01. Civil Remedies and Procedure » Chapter 17. Judgments and Decrees Generally » Article 7. Lien and Enforcement Thereof » § 8.01-458. (Effective January 1, 2022) From what time judgment to be a lien on real estate; docketing revived judgment

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§ 55.1-703. Required disclosures for buyer to beware

(1 days ago) 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 …

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§ 58.1-3965. When land may be sold for delinquent taxes

(3 days ago) Upon a finding by the court, on real estate with an assessed value of $100,000 or less in any locality, that (a) any taxes on such real estate are delinquent on December 31 following the first anniversary of the date on which such taxes have become due or (b) there is a lien on such real estate pursuant to § 15.2-900, 15.2-906, 15.2-907, 15.2

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§ 58.1-3203. Taxation of certain leasehold interests

(3 days ago) Taxation. Chapter 32. Real Property Tax. 6/22/2021. § 58.1-3203. Taxation of certain leasehold interests; concessions. A. All leasehold interests in real property that is exempt from assessment for taxation from the owner shall be assessed for local taxation to the lessee. If the remaining term of the lease is 50 years or more, or the lease

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Code of Virginia Code

(Just Now) Chapter 21. Real Estate Brokers, Sales Persons and Rental Location Agents. Article 1. Regulation of Real Estate Brokers, Salespersons and Rental Location Agents. § 54.1-2100. Definitions. As used in this chapter: "Distance learning" means instruction delivered by an approved provider through a medium other than a classroom setting. Such

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18VAC135-20-155. Grounds for disciplinary action.

(8 days ago) Virginia Real Estate Board Licensing Regulations. 7/2/2021. 18VAC135-20-155. Grounds for disciplinary action. The board has the power to fine any licensee or certificate holder and to suspend or revoke any license or certificate issued under the provisions of Chapter 21

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§ 58.1-3916. Counties, cities and towns may provide dates

(3 days ago) In the event a transfer of real property ownership occurs after January 1 of a tax year and a real estate tax bill has been mailed pursuant to §§ 58.1-3281 and 58.1-3912, the treasurer or other appropriate local official designated by ordinance of the local governing body in jurisdictions not having a treasurer, upon ascertaining that a

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§ 58.1-803. Deeds of trust or mortgages; maximum tax

(1 days ago) 6/20/2021. § 58.1-803. Deeds of trust or mortgages; maximum tax. A. 1. Except as provided in this section, a recordation tax on deeds of trust or mortgages is hereby imposed at a rate of 25 cents on every $100 or portion thereof of the amount of bonds or other obligations secured thereby. In the event of an open, credit line, or revolving deed

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18VAC135-20-180. Maintenance and management of escrow

(8 days ago) 18VAC135-20-180. Maintenance and management of escrow accounts. A. Maintenance of escrow accounts. 1. If money is to be held in escrow, each firm or sole proprietorship shall maintain in the name by which it is licensed one or more federally insured separate escrow accounts in a federally insured depository into which all down payments, earnest money deposits, money received upon final

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§ 58.1-807. Contracts generally; leases

(1 days ago) § 58.1-807. Contracts generally; leases. A. Except as hereinafter provided, on every contract or memorandum thereof relating to real or personal property admitted to record, a recordation tax is hereby levied at the rate of 25 cents on every $100 or fraction thereof of the consideration or …

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Code of Virginia Code

(9 days ago) Article 3. Duties of Real Estate Brokers and Salespersons. § 54.1-2130. Definitions. As used in this article: "Agency" means every relationship in which a real estate licensee acts for or represents a person as an agent by such person's express authority in a commercial or residential real estate transaction, unless a different legal relationship is intended and is agreed to as part of the

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Code of Virginia Code

(6 days ago) Chapter 36. Tax Exempt Property Read Chapter . Article 1. Exemptions Generally Read all § 58.1-3600 Definitions § 58.1-3601 Property becomes taxable immediately upon sale by tax-exempt owner

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Virginia Consumer Protection Act

(1 days ago) Title. This chapter may be cited as the Virginia Consumer Protection Act of 1977. 1977, c. 635. § 59.1-197. Intent. It is the intent of the General Assembly that this chapter shall be applied as remedial legislation to promote fair and ethical standards of dealings between suppliers and …

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§ 8.01-321. Orders of publication in proceedings to

(1 days ago) § 8.01-321. Orders of publication in proceedings to enforce liens for taxes assessed upon real estate. Whenever an order of publication is entered in any proceeding brought by any county, city, or town to enforce a lien for taxes assessed upon real estate, such order need not be published more than once a week for two successive weeks.

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18VAC130-20-130. Fees for renewal and reinstatement.

(8 days ago) Real Estate Appraiser Board Rules and Regulations. 18VAC130-20-130. Fees for renewal and reinstatement. A. All fees are nonrefundable. B. National Registry fee assessment. In accordance with the requirements of § 1109 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, $80 of the biennial renewal or reinstatement fee

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18VAC10-20-370. Minimum standards and procedures for land

(7 days ago) 7/2/2021. 18VAC10-20-370. Minimum standards and procedures for land boundary surveying practice. A. The minimum standards and procedures set forth in this section are to be used for land boundary surveys performed in the Commonwealth of Virginia.

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§ 64.2-502. Grant of administration of intestate estate

(1 days ago) § 64.2-502. Grant of administration of intestate estate. A. The court or the clerk who would have jurisdiction as to the probate of a will, if there were a will, has jurisdiction to hear and determine the right of administration of the estate in the case of a person dying intestate.

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§ 8.2-725. Statute of limitations in contracts for sale

(6 days ago) 6/25/2021. § 8.2-725. Statute of limitations in contracts for sale. (1) An action for breach of any contract for sale must be commenced within four years after the cause of action has accrued. By the original agreement the parties may reduce the period of limitation to …

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§ 58.1-3967. How proceedings instituted; parties

(3 days ago) § 58.1-3967. How proceedings instituted; parties; procedure generally; title acquired; disposition of surplus proceeds of sale. Proceedings under this article for the appointment of a special commissioner under § 58.1-3970.1 or the sale of real estate on which county, city, or town taxes are delinquent shall be by bill in equity, filed in the circuit court of the county or city in which such

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§ 58.1-3330. Notice of change in assessment

(3 days ago) Real Property Tax. § 58.1-3330. Notice of change in assessment. A. Whenever in any county, city or town there is a reassessment of real estate, or any change in the assessed value of any real estate, notice shall be given by mail directly to each property owner, as shown by the land books of the county, city or town whose assessment has been

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Virginia Administrative Code

(7 days ago) Course content of real estate principles and practices Section 410 Broker courses Section 420 [Repealed] FORMS FORMS (18VAC135-20) Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon.

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§ 17.1-227. Documents to be recorded in deed books; social

(1 days ago) § 17.1-227. Documents to be recorded in deed books; social security numbers. All deeds, deeds of trust, deeds of release, certificates of satisfaction or certificates of partial satisfaction, quitclaim deeds, homestead deeds, grants, transfers and mortgages of real estate, releases of such mortgages, powers of attorney to convey real estate, leases of real estate, notices of lis pendens and

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Virginia Limited Liability Company Act

(7 days ago) 2. The title to all real estate and other property owned by each domestic limited liability company party to the merger is vested in the surviving domestic or foreign limited liability company, partnership, limited partnership, business trust or corporation without reversion or impairment; 3.

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§ 58.1-811. (Contingent effective date — see note) Exemptions

(1 days ago) A. The taxes imposed by §§ 58.1-801 and 58.1-807 shall not apply to any deed conveying real estate or lease of real estate: 1. To an incorporated college or other incorporated institution of learning not conducted for profit, where such real estate is intended to be used for educational purposes and not as a source of revenue or profit; 2.

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§ 64.2-1805. Powers of guardian

(3 days ago) Chapter 18. Custody and Care of Ward and Estate. 6/30/2021. § 64.2-1805. Powers of guardian. A. Whether appointed by a parent, the circuit court, or the circuit court clerk, a guardian of a ward's estate shall have the powers set forth in § 64.2-105 as of the date the guardian acts. A guardian of a ward's estate shall also have the following

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§ 54.1-2111. Consent to suits and service of process by

(3 days ago) Title 54.1. Professions and Occupations. Chapter 21. Real Estate Brokers, Sales Persons and Rental Location Agents. 7/3/2021. § 54.1-2111. Consent to suits and service of process by nonresidents; manner of service. A. Every nonresident applicant shall file with the Real Estate Board an irrevocable consent that suits and actions may be

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§ 54.1-2105.03. Continuing education; relicensure of

(6 days ago) Real Estate Brokers, Sales Persons and Rental Location Agents. 6/22/2021. § 54.1-2105.03. Continuing education; relicensure of brokers and salespersons. A. Board regulations shall include educational requirements as a condition for relicensure of brokers and salespersons to whom active licenses have been issued by the Board beyond those now

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§ 64.2-523. Personal representative may execute deed

(1 days ago) § 64.2-523. Personal representative may execute deed pursuant to written contract of decedent. When any decedent has executed and delivered a bona fide written contract of sale, purchase option, or other agreement binding such deceased person, his heirs, personal representatives, or assigns, to convey any real property or any interest therein, his personal representatives may execute a deed

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23VAC10-320-40. Deeds of trust or mortgages.

(7 days ago) For example, if real estate valued at $30,000 secures a note of $160,000, the tax is based upon the value of the real estate. 2. A supplemental indenture to a mortgage where the tax upon the initial mortgage has been paid, the tax is imposed only on the amount of the supplemental indenture.

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§ 58.1-3661. Certified solar energy equipment, facilities

(3 days ago) In the event the locality assesses real estate pursuant to § 58.1-3292, the exemption shall be first effective when such real estate is first assessed, but not prior to the date of such application for exemption. E. It shall be presumed for purposes of the administration of ordinances pursuant to this section, and for no other purposes, that

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§ 58.1-3219. Deferral of portion of real estate tax increases

(3 days ago) Real Property Tax. 7/3/2021. § 58.1-3219. Deferral of portion of real estate tax increases. Any county, city, or town may adopt, by ordinance, a deferral program for real estate taxes, in such amount as the ordinance may prescribe, subject to the limitations and conditions of this article. The local governing body shall adopt, by ordinance

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§ 59.1-507.1. Breach of contract; material breach

(4 days ago) 6/29/2021. § 59.1-507.1. Breach of contract; material breach. (a) Whether a party is in breach of contract is determined by the agreement or, in the absence of agreement, this chapter. A breach occurs if a party without legal excuse fails to perform an obligation in a timely manner, repudiates a contract, or exceeds a contractual use term, or

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§ 2.2-1156. Sale or lease of surplus property and excess

(1 days ago) § 2.2-1156. Sale or lease of surplus property and excess building space. A. The Department shall identify real property assets that are surplus to the current and reasonably anticipated future needs of the Commonwealth and may dispose of surplus assets as provided in this section, except when a department, agency or institution notifies the Department of a need for property that has been

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§ 54.1-2137. Commencement and termination of brokerage

(3 days ago) Real Estate Brokers, Sales Persons and Rental Location Agents. 7/2/2021 § 54.1-2137. Commencement and termination of brokerage relationships. A. The brokerage relationships set forth in this article shall commence at the time that a client engages a licensee and shall continue until (i) completion of performance in accordance with the

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§ 58.1-3651. Property exempt from taxation by

(3 days ago) Code of Virginia. Table of Contents » Title 58.1. Taxation » Subtitle III. Local Taxes » Chapter 36. Tax Exempt Property » Article 4.1. Property Exempted by Local Classification or Designation on or After January 1, 2003 » § 58.1-3651. Property exempt from taxation by classification or designation by ordinance adopted by local governing body on or after January 1, 2003

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Virginia Lease-Purchase Agreement Act

(6 days ago) 3. A lease or bailment of personal property which is incidental to the lease of real property, and which provides that the consumer has no option to purchase the leased property; or. 4. A lease of an automobile. 1988, c. 24; 2003, c. 353; 2010, c. 794. § 59.1-207.20. General requirements of disclosure. A.

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18VAC135-20-360. Proprietary school standards, instructor

(8 days ago) 18VAC135-20-360. Proprietary school standards, instructor qualifications and course requirements. A. Every applicant to the Real Estate Board for a proprietary school certificate shall meet the standards provided in subsection A of § 54.1-2105.02 of the Code of Virginia by submitting a CPA-certified letter attesting to the applicant's net worth or a balance sheet or financial statement

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