VA LEG Resale Certificate, Purchasers

Published on: Apr 9, 2025

On Mar. 21, VA LEG enacted bill re resale disclosures requirements.

  • VA LEG enacted bill HB 2110 re to Resale disclosure act; resale certificate; prohibition on requiring purchaser's name; amended VA LEG 55.1-2309 and VA LEG 55.1-2310.
  • Prohibited any association from requiring a purchaser's name prior to preparing the resale certificate or requiring such information to be set out on a completed certificate.
  • Document dated Mar. 21, 2025, was received on Apr. 7, 2025, due to a fixed feed.
  • Legislative History
  • On Jan. 7, 2025, bill introduced in the House; on Feb. 3, 2025, bill passed in House.
  • On Feb. 4, 2025, bill introduced in Senate; on Feb. 17, 2025, bill passed in Senate.
  • On Mar. 21, 2025, bill was approved by the VA governor and assigned Chapter 0247.
  • Effectiveness
  • Bill effective on Jul. 1, 2025.
Regulators
VA LEG
Entity Types
Corp
Reference
Ch. 0247, Bill HB2110, 3/21/2025; Citation: *VA LEG* 55.1-2309, 55.1-2310;
Functions
Compliance; Legal
Countries
United States of America
Category
State
N/A
Products
Corporate; Mortgage
Rule Type
Final
Regions
Am
Rule Date
Mar 21, 2025
Effective Date
Jul 1, 2025
Rule ID
249940
Linked to
N/A
Reg. Last Update
Mar 21, 2025
Report Section
US Consumer