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Definitions (§ 58.1-3245)
2016As used in this article, unless the context clearly shows otherwise, the term or phrase:”Base assessed value” means the assessed value of real estate within a development project area as shown upon the land book records of the local asses . . .
Prohibition against payment or receipt of settlement services kickbacks, rebates, commissions, and other payments; penalty (§ 55-525.12)
2016A No person selling real property, or performing services as a real estate agent, attorney, lay settlement agent or lender incident to any real estate settlement or sale, shall pay or receive, directly or indirectly, any kickback, rebate, commission, . . .
Triennial application for exemption; removal by local governing body (§ 58.1-3605)
2016The governing body of any county, city or town, after giving sixty days’ written notice, may require by local ordinance any entity, except the Commonwealth, any political subdivision of the Commonwealth, or the United States, which owns real an . . .
Definitions (§ 55-142.10)
2016As used in this article, terms shall have the meanings as defined below: “Document” means information that is: “Electronic,” as defined in Uniform Electronic Transactions Act (§ 59.1-479 et seq.), means relating to techn . . .
Escrow of deposits (§ 55-485)
2016A Any deposit made in connection with the purchase or reservation of a cooperative interest from a person required to deliver a public offering statement pursuant to subsection C of § 55-477 shall be placed in escrow and held either in this Commonwe . . .
How money paid into state treasury from escheats may be recovered (§ 55-200)
2016A If within 120 days from the date of sale, a purchaser submits evidence satisfactory to the State Treasurer that the property described in the grant does not exist or was improperly escheated, the State Treasurer may refund the purchase price, less . . .
Compensation shall not imply brokerage relationship (§ 54.1-2140)
2016The payment or promise of payment or compensation to a real estate broker does not create a brokerage relationship between any broker, seller, landlord, buyer or tenant. . . .
Definitions (§ 55-525.16)
2016As used in this chapter, unless the context requires a different meaning:”Association” means the National Association of Insurance Commissioners.”Closing disclosure” means the combined mortgage loan disclosure statement of fin . . .
Licensees engaged by buyers (§ 54.1-2132)
2016A A licensee engaged by a buyer shall: B Licensees shall treat all prospective sellers honestly and shall not knowingly give them false information. If a licensee has actual knowledge of the existence of defective drywall in a residential property, . . .
Persons rendering emergency care, obstetrical services exempt from liability (§ 8.01-225)
2016A Any person who: B Any licensed physician serving without compensation as the operational medical director for an emergency medical services agency that holds a valid license as an emergency medical services agency issued by the Commissioner of Hea . . .