§ 55.1-2311 Updated resale certificate; financial update
A. If a resale certificate was issued more than 30 days but less than 12 months before settlement, the seller or the purchaser, upon proof of being the contract purchaser of the unit, may request an updated resale certificate. The updated resale certificate shall be delivered to the person requesting it, or as such person may direct, in the format requested. The updated resale certificate shall be delivered within 10 days after the written request.
B. The updated resale certificate shall contain current information for all items that may have changed from the original resale certificate or a statement that there are no changes.
C. A settlement agent or other third party authorized by the seller or purchaser may request a financial update and the association shall provide such information within three business days after the written request.
History
This law was first created in 2023. The record of its establishment is cataloged in chapters 387 and 388 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. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2024, chapters 54 and 511.
2023, cc. 387, 388; 2024, cc. 54, 511.