Resale Disclosure Act; resale certificate, prohibition on requiring purchaser's name.
Summary
HB2110 amends Virginia’s Resale Disclosure Act provisions governing resale certificates for units in common interest communities, such as condominiums and homeowners’ associations. The bill requires the seller or the seller’s agent to obtain the resale certificate from the association and provide it to the purchaser, and it preserves that duty as nonwaivable. It also requires the association, its managing agent, or a third-party preparer to deliver the certificate within 14 days of a written request, after which the certificate is deemed unavailable if not delivered.
The bill makes a targeted change to the resale process by prohibiting associations from requiring the purchaser’s name before preparing the resale certificate. It also allows the certificate to be delivered in print or in a generally accepted electronic format, at the seller’s request, and keeps the certificate’s information current as of the date stated on the form, with updated certificates available under existing law. The bill was enacted as Chapter 247 and became effective upon approval on March 21, 2025.
Impact
HB2110 amends Sections 55.1-2309 and 55.1-2310 of the Code of Virginia, affecting resale disclosures in common interest communities. The practical legal effect is to streamline the resale certificate process, limit associations’ ability to delay preparation by demanding buyer-identifying information, and clarify that the purchaser’s name cannot be required on the completed certificate. It also reinforces the required contents of the resale certificate, which includes financial, governance, insurance, restriction, and compliance information relevant to buyers, sellers, and lenders in HOA, condominium, and cooperative transactions.
Sentiment
The bill appears to have received broad, unanimous support throughout the legislative process. It passed subcommittee, committee, the House, and the Senate with no recorded opposition in the provided vote history. The lack of dissent suggests the measure was viewed as a narrow, practical consumer-transaction fix rather than a controversial policy change.
Contention
No notable substantive contention is reflected in the provided transcripts or vote record. The only issue directly addressed by the bill is the association practice of requiring a purchaser’s name before preparing a resale certificate, and the legislation resolves that issue in favor of sellers and purchasers by prohibiting the requirement. Any potential concern would likely come from common interest community associations or their managers regarding administrative procedures, but no opposition is shown in the available materials.