This is the 2025 edition of the code. This is the current edition. Browse all editions.

§ 55.1-3202 Prohibited terms

A. No real estate service agreement that is effective and binding for more than one year from the effective date shall:

1. Purport to run with the land or bind future owners of interests in the residential real property identified in the service agreement;

2. Allow the service provider to assign or transfer the right to provide services under the service agreement without notice to and written agreement of all parties to the service agreement; or

3. Purport to create a lien, encumbrance, or other real property security interest on the residential real property identified in the service agreement.

B. Offering a real estate service agreement that violates subsection A to a consumer constitutes a prohibited practice under the provisions of § 59.1-200 and shall be subject to the provisions of the Virginia Consumer Protection Act (§ 59.1-196 et seq.). Nothing in this subsection shall be construed to prevent an individual from pursuing any other remedy available by law.

History

This law was first created in 2024. The record of its establishment is cataloged in chapters 328 and 362 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.

2024, cc. 328, 362.

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