{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2311.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2311.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2311.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2311.html"}],"law_id":80861,"edition_id":1,"section_id":80861,"structure_id":14775,"section_number":"55.1-2311","catch_line":"Updated resale certificate; financial update","history":"2023, cc. 387, 388; 2024, cc. 54, 511.","full_text":"A\n\nIf 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\n\nThe 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\n\nA 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.","order_by":null,"text":{"0":{"id":289851,"text":"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.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":289852,"text":"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.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":289853,"text":"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.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":14775,"edition_id":1,"name":"Resale Disclosure Act","identifier":"23.1","label":"chapter","depth":3,"order_by":1,"parent_id":12914,"metadata":{},"date_created":"2026-06-26 03:49:50","date_modified":"2026-06-26 03:49:50","permalink":{"id":247725,"object_type":"structure","relational_id":14775,"identifier":"23.1","token":"55.1\/IV\/23.1","url":"\/55.1\/IV\/23.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12914,"edition_id":1,"name":"Common Interest Communities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12707,"metadata":{},"date_created":"2026-06-26 03:44:01","date_modified":"2026-06-26 03:44:01","permalink":{"id":246473,"object_type":"structure","relational_id":12914,"identifier":"IV","token":"55.1\/IV","url":"\/55.1\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12707,"edition_id":1,"name":"Property and Conveyances","identifier":"55.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":244769,"object_type":"structure","relational_id":12707,"identifier":"55.1","token":"55.1","url":"\/55.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":85397,"structure_id":14775,"section_number":"55.1-2307","catch_line":"Definitions","url":"\/55.1-2307\/","token":"55.1\/IV\/23.1\/55.1-2307","metadata":false},{"id":73747,"structure_id":14775,"section_number":"55.1-2308","catch_line":"Contract for resale; disclosures","url":"\/55.1-2308\/","token":"55.1\/IV\/23.1\/55.1-2308","metadata":false},{"id":70933,"structure_id":14775,"section_number":"55.1-2309","catch_line":"Resale certificate; delivery","url":"\/55.1-2309\/","token":"55.1\/IV\/23.1\/55.1-2309","metadata":false},{"id":63018,"structure_id":14775,"section_number":"55.1-2310","catch_line":"Resale certificate; form and contents","url":"\/55.1-2310\/","token":"55.1\/IV\/23.1\/55.1-2310","metadata":false},{"id":80861,"structure_id":14775,"section_number":"55.1-2311","catch_line":"Updated resale certificate; financial update","url":"\/55.1-2311\/","token":"55.1\/IV\/23.1\/55.1-2311","metadata":false},{"id":77542,"structure_id":14775,"section_number":"55.1-2312","catch_line":"Cancellation of contract by purchaser","url":"\/55.1-2312\/","token":"55.1\/IV\/23.1\/55.1-2312","metadata":false},{"id":58689,"structure_id":14775,"section_number":"55.1-2313","catch_line":"Liability for resale certificate","url":"\/55.1-2313\/","token":"55.1\/IV\/23.1\/55.1-2313","metadata":false},{"id":68135,"structure_id":14775,"section_number":"55.1-2314","catch_line":"Failure to provide resale certificate; no waiver","url":"\/55.1-2314\/","token":"55.1\/IV\/23.1\/55.1-2314","metadata":false},{"id":77415,"structure_id":14775,"section_number":"55.1-2315","catch_line":"Properties subject to more than one declaration","url":"\/55.1-2315\/","token":"55.1\/IV\/23.1\/55.1-2315","metadata":false},{"id":57622,"structure_id":14775,"section_number":"55.1-2316","catch_line":"Resale certificate; fees","url":"\/55.1-2316\/","token":"55.1\/IV\/23.1\/55.1-2316","metadata":false},{"id":56550,"structure_id":14775,"section_number":"55.1-2317","catch_line":"Exemptions","url":"\/55.1-2317\/","token":"55.1\/IV\/23.1\/55.1-2317","metadata":false}],"previous_section":{"id":63018,"structure_id":14775,"section_number":"55.1-2310","catch_line":"Resale certificate; form and contents","url":"\/55.1-2310\/","token":"55.1\/IV\/23.1\/55.1-2310","metadata":false},"next_section":{"id":77542,"structure_id":14775,"section_number":"55.1-2312","catch_line":"Cancellation of contract by purchaser","url":"\/55.1-2312\/","token":"55.1\/IV\/23.1\/55.1-2312","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2311\/","history_text":"

This law was first created in 2023. The record of its establishment is cataloged in chapters 387<\/a> and 388<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d 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 \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2024, chapters 54<\/a> and 511<\/a>.<\/p>","references":[{"id":85397,"section_number":"55.1-2307","catch_line":"Definitions","order_by":null,"url":"\/55.1-2307\/"},{"id":73747,"section_number":"55.1-2308","catch_line":"Contract for resale; disclosures","order_by":null,"url":"\/55.1-2308\/"},{"id":70933,"section_number":"55.1-2309","catch_line":"Resale certificate; delivery","order_by":null,"url":"\/55.1-2309\/"},{"id":58689,"section_number":"55.1-2313","catch_line":"Liability for resale certificate","order_by":null,"url":"\/55.1-2313\/"},{"id":68135,"section_number":"55.1-2314","catch_line":"Failure to provide resale certificate; no waiver","order_by":null,"url":"\/55.1-2314\/"}],"refers_to":false,"permalink":{"id":247743,"object_type":"law","relational_id":80861,"identifier":"55.1-2311","token":"55.1\/IV\/23.1\/55.1-2311","url":"\/55.1-2311\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2311\/","token":"55.1\/IV\/23.1\/55.1-2311","dublin_core":{"Title":"Updated resale certificate; financial update","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2311","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> If a resale certificate was issued more than 30 days<\/span> but less than 12 months before settlement<\/span>, the seller<\/span> or the purchaser<\/span>, upon proof of being the contract<\/span> purchaser<\/span> of the unit<\/span>, may request an updated resale certificate<\/span>. The updated resale certificate<\/span> shall be delivered to the person requesting it, or as such person may direct, in the format requested. The updated resale certificate<\/span> shall be delivered within 10 days<\/span> after the written request. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The updated resale certificate<\/span> shall contain current information for all items that may have changed from the original resale certificate or a statement that there are no changes. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A settlement agent<\/span> or other third party<\/span> authorized by the seller<\/span> or purchaser<\/span> may request a financial update<\/span> and the association<\/span> shall provide such information within three business days<\/span> after the written request. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nUPDATED RESALE CERTIFICATE; FINANCIAL UPDATE (\u00a7 55.1-2311)\n\nA. If a resale certificate was issued more than 30 days but less than 12 months\nbefore settlement, the seller or the purchaser, upon proof of being the contract\npurchaser of the unit, may request an updated resale certificate. The updated\nresale certificate shall be delivered to the person requesting it, or as such\nperson may direct, in the format requested. The updated resale certificate shall\nbe delivered within 10 days after the written request.\n\nB. The updated resale certificate shall contain current information for all\nitems that may have changed from the original resale certificate or a statement\nthat there are no changes.\n\nC. A settlement agent or other third party authorized by the seller or purchaser\nmay request a financial update and the association shall provide such\ninformation within three business days after the written request.\n\nHISTORY: 2023, cc. 387, 388; 2024, cc. 54, 511.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}