Real property; duty to disclose ownership interest and lis pendens.
It was vetoed on Apr 27, 2022.
- Stage
- Vetoed
- Started in
- Senate
- Sponsor
- 1
- Latest action
- Apr 27, 2022
What it does
Real property; title insurance and duty to disclose ownership interest and lis pendens. Provides that a real estatelicensee has an affirmative duty, upon having substantive discussionsabout specific real property, to disclose in writing to the purchaser,seller, lessor, or lessee if he, any member of his family, his firm,any member of his firm, or any entity in which he has an ownershipinterest has or will have an ownership interest to the other partiesto the transaction. The bill requires a settlement agent, in connectionwith any transaction involving the purchase or sale of an interest in residential real property, to obtain from the purchaser a statementin writing that he has been…
Where it stands
This bill failed and is no longer moving.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Needs attention)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
Once a bill is decided, the questions are about what is done with it in Virginia.