Virginia Code 55.1-2309: Resale certificate; delivery
A. The seller or the seller’s agent shall obtain the resale certificate from the association and provide such resale certificate to the purchaser or the purchaser’s agent. This requirement shall not be waived or changed by agreement.
Terms Used In Virginia Code 55.1-2309
- Agent: means the authorized agent designated by the purchaser or seller in a ratified real estate contract, listing agreement, or other writing designating such agent. See Virginia Code 55.1-2307
- Association: means an association created pursuant to the Property Owners' Association Act (§ Virginia Code 55.1-2307
- Days: means calendar days. See Virginia Code 55.1-2307
- Managing agent: means a licensee who performs management services as defined in § Virginia Code 55.1-2307
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
- Purchaser: means the person or entity acquiring the unit. See Virginia Code 55.1-2307
- Resale certificate: means the information listed in § 55. See Virginia Code 55.1-2307
- Seller: means the person or entity selling the unit. See Virginia Code 55.1-2307
- Updated resale certificate: means an update of the resale certificate referenced in § 55. See Virginia Code 55.1-2307
B. Unless exempt pursuant to § 55.1-2317, the association, the association’s managing agent, or any third party preparing the resale certificate on behalf of the association shall deliver such resale certificate within 14 days after a written request by a seller or seller’s agent. If no resale certificate is delivered within 14 days after such request, the resale certificate shall be deemed unavailable.
C. The association, association’s managing agent, or any third party preparing the resale certificate on behalf of the association shall deliver the resale certificate to the seller, or to such person as the seller may direct, either printed or in a generally accepted electronic format as the seller may request.
D. The information contained in the resale certificate shall be current as of a date specified on the resale certificate. The seller or purchaser may request an updated resale certificate as provided in § 55.1-2311.