78803155-79.97Virginia Decodedhttps://vacode.org2016Property And ConveyancesCondominium ActAdministration Of Chapter; Sale, Etc., Of Condominium UnitsResale by purchaser1974, c. 416; 1975, c. 415; 1978, cc. 234, 290; 1983, c. 60; 1984, cc. 29, 103; 1990, c. 662; 1991, c. 497; 1994, c. 172; 1997, c. 222; 1998, cc. 32, 454, 463; 1999, c. 263; 2001, c. 556; 2002, cc. 459, 509; 2005, c. 415; 2007, cc. 696, 712, 854, 910; 2008, cc. 851, 871; 2011, c. 334; 2013, cc. 357, 492; 2014, c. 216; 2015, c. 277; 2016, c. 471.http://law.lis.virginia.gov/vacode/55-79.97/13.1-936Annual report of domestic and foreign corporations/13.1-936/55-79.1Title/55-79.1/55-79.87Exemptions from certain provisions of article/55-79.87/55-79.93:1Annual report by unit owners' association/55-79.93:1/55-79.97:1Fees for resale certificate/55-79.97:1//55-79.97/55/4.2/4/55-79.9754.1-213055-79.4155-79.75:255-79.8755-79.97:167-701The information contained in the resale certificate shall be current as of a date specified on the resale certificate. A resale certificate update or a financial update may be requested as provided in § 55-79.97:1, as appropriate. The purchaser may cancel the contract (i) within three days after the date of the contract, if the purchaser receives the resale certificate or is notified that the resale certificate will not be available on or before the date that the purchaser signs the contract; (ii) within three days after receiving the resale certificate if the resale certificate or notice that the resale certificate will not be available is hand delivered, delivered by electronic means, or delivered by a commercial overnight delivery service or the United States Postal Service, and a receipt obtained; or (iii) within six days after the postmark date if the resale certificate or notice that the resale certificate will not be available is sent to the purchaser by United States mail.Notice of cancellation shall be provided to the unit owner or his agent by one of the following methods:sectionCC1 Hand delivery;sectionCaCa2 United States mail, postage prepaid, provided the sender retains sufficient proof of mailing, which may be either a United States postal certificate of mailing or a certificate of service prepared by the sender confirming such mailing;sectionCbCb2 Electronic means provided the sender retains sufficient proof of the electronic delivery, which may be an electronic receipt of delivery, a confirmation that the notice was sent by facsimile, or a certificate of service prepared by the sender confirming the electronic delivery; orsectionCcCc2 Overnight delivery using a commercial service or the United States Postal Service.In the event of a dispute, the sender shall have the burden to demonstrate delivery of the notice of cancellation. Such cancellation shall be without penalty, and the unit owner shall cause any deposit to be returned promptly to the purchaser.A resale certificate shall include the following:
sectionCdCd2 An appropriate statement pursuant to subsection H of § 55-79.84 which need not be notarized and, if applicable, an appropriate statement pursuant to § 55-79.85;sectionCd1Cd13 A statement whether there is any other entity or facility to which the unit owner may be liable for fees or other charges;sectionCd4Cd43 The current reserve study report or a summary thereof, a statement of the status and amount of any reserve or replacement fund and any portion of the fund designated for any specified project by the executive organ;sectionCd5Cd53 A statement that any improvements or alterations made to the unit, or the limited common elements assigned thereto, are or are not in violation of the condominium instruments;sectionCd9Cd93 A statement of any limitation on the number of persons who may occupy a unit as a dwelling;sectionCd15Cd153 A statement setting forth any restrictions, limitation or prohibition on the right of a unit owner to display the flag of the United States, including, but not limited to reasonable restrictions as to the size, time, place, and manner of placement or display of such flag;sectionCd16Cd163Subject to the provisions of § 55-79.87, but notwithstanding any other provisions of this chapter, the provisions and requirements of this section shall apply to any such resale of a condominium unit created under the provisions of the Horizontal Property Act (§ 55-79.1 et seq.).sectionEE1The resale certificate required by this section need not be provided in the case of:sectionFF1 A disposition of a unit by gift;sectionF1F12 A disposition of a unit pursuant to court order if the court so directs;sectionF2F22 A disposition of a unit by foreclosure or deed in lieu of foreclosure; orsectionF3F32 A disposition of a unit by a sale at auction, when the resale certificate was made available as part of the auction package for prospective purchasers prior to the auction.sectionF4F42