An owner shall be required to make disclosures required by this chapter for real property subject to a real estate purchase contract that is fully executed by all parties. The Real Estate Board shall develop the form for signature by the parties stating that the purchaser has been advised of the disclosures listed in the residential property disclosure statement located on the Board’s website in accordance with § 54.1-2105.1. The Board may at any time amend the residential property disclosure statement and the form for signature by the parties as the Board deems necessary and appropriate.

contract signature

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Terms Used In Virginia Code 55.1-714

  • Contract: A legal written agreement that becomes binding when signed.
  • real estate: includes lands, tenements and hereditaments, and all rights and appurtenances thereto and interests therein, other than a chattel interest. See Virginia Code 1-219
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

1992, c. 717, § 55-525; 1993, c. 848; 2007, c. 265; 2018, cc. 60, 86; 2019, c. 712; 2020, c. 749.

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