Code of Virginia

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Code of Virginia
Title 55.1. Property and Conveyances
Chapter 7. Virginia Residential Property Disclosure Act
11/30/2021

§ 55.1-708.2. (Effective January 1, 2022) Required disclosures pertaining to repetitive loss.

The owner of residential real property located in the Commonwealth who has actual knowledge that the dwelling unit is a repetitive risk loss structure shall disclose such fact to the purchaser. For purposes of this section, "repetitive risk loss" means that two or more claims of more than $1,000 were paid by the National Flood Insurance Program within any rolling 10-year period, since 1978. Such disclosure shall be provided to the purchaser on a form provided by the Real Estate Board on its website.

2021, Sp. Sess. I, cc. 322, 323.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.