{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2312.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2312.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2312.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2312.html"}],"law_id":77542,"edition_id":1,"section_id":77542,"structure_id":14775,"section_number":"55.1-2312","catch_line":"Cancellation of contract by purchaser","history":"2023, cc. 387, 388; 2024, cc. 54, 511.","full_text":"A\n\nIf delivery of the resale certificate to the purchaser or purchaser’s agent, whether or not complete pursuant to § 55.1-2310, or a notice that the resale certificate is unavailable, occurs before the contract is ratified, the purchaser may cancel the contract within a time period agreed upon by all parties in the ratified real estate contract. If no time period is specified in the ratified real estate contract, the purchaser shall have three days from the date of ratification to cancel the contract.B\n\nIf delivery of the resale certificate to the purchaser or purchaser’s agent, whether or not complete pursuant to § 55.1-2310, or a notice that such resale certificate is unavailable, occurs after the contract is ratified, the purchaser may cancel the contract within a time period agreed upon by all parties to the real estate contract. If no time period is specified in the ratified real estate contract, the purchaser shall have three days from receipt of the resale certificate or notice that the resale certificate is unavailable to cancel the contract.C\n\nIf the resale certificate or notice that the resale certificate is unavailable has not been delivered to the purchaser, the purchaser or purchaser’s agent may cancel the contract at any time prior to settlement.D\n\nWritten notice of cancellation shall be provided to the seller in accordance with the terms of the contract. The purchaser shall have the burden to demonstrate delivery of the notice of cancellation.E\n\nIf the unit is governed by more than one association, the timeframe for the purchaser’s right of cancellation shall run from the date of delivery of the last resale certificate.F\n\nCancellation shall be without penalty, and the seller shall cause any deposit or escrowed funds to be returned promptly to the purchaser.","order_by":null,"text":{"0":{"id":278166,"text":"If delivery of the resale certificate to the purchaser or purchaser’s agent, whether or not complete pursuant to § 55.1-2310, or a notice that the resale certificate is unavailable, occurs before the contract is ratified, the purchaser may cancel the contract within a time period agreed upon by all parties in the ratified real estate contract. If no time period is specified in the ratified real estate contract, the purchaser shall have three days from the date of ratification to cancel the contract.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":278167,"text":"If delivery of the resale certificate to the purchaser or purchaser’s agent, whether or not complete pursuant to § 55.1-2310, or a notice that such resale certificate is unavailable, occurs after the contract is ratified, the purchaser may cancel the contract within a time period agreed upon by all parties to the real estate contract. If no time period is specified in the ratified real estate contract, the purchaser shall have three days from receipt of the resale certificate or notice that the resale certificate is unavailable to cancel the contract.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":278168,"text":"If the resale certificate or notice that the resale certificate is unavailable has not been delivered to the purchaser, the purchaser or purchaser’s agent may cancel the contract at any time prior to settlement.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":278169,"text":"Written notice of cancellation shall be provided to the seller in accordance with the terms of the contract. The purchaser shall have the burden to demonstrate delivery of the notice of cancellation.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":278170,"text":"If the unit is governed by more than one association, the timeframe for the purchaser’s right of cancellation shall run from the date of delivery of the last resale certificate.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":278171,"text":"Cancellation shall be without penalty, and the seller shall cause any deposit or escrowed funds to be returned promptly to the purchaser.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2312\/","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":73747,"section_number":"55.1-2308","catch_line":"Contract for resale; disclosures","order_by":null,"url":"\/55.1-2308\/"}],"refers_to":[{"id":63018,"section_number":"55.1-2310","catch_line":"Resale certificate; form and contents","order_by":null,"url":"\/55.1-2310\/"}],"permalink":{"id":247747,"object_type":"law","relational_id":77542,"identifier":"55.1-2312","token":"55.1\/IV\/23.1\/55.1-2312","url":"\/55.1-2312\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2312\/","token":"55.1\/IV\/23.1\/55.1-2312","dublin_core":{"Title":"Cancellation of contract by purchaser","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2312","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> If delivery of the resale certificate<\/span> to the purchaser<\/span> or purchaser<\/span>’s agent<\/span>, whether or not complete pursuant to § 55.1-2310<\/a>, or a notice that the resale certificate<\/span> is unavailable, occurs before the contract is ratified, the purchaser<\/span> may cancel the contract within a time period agreed upon by all parties in the ratified real estate contract<\/span>. If no time period is specified in the ratified real estate contract<\/span>, the purchaser<\/span> shall have three days<\/span> from the date of ratification to cancel the contract. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> If delivery of the resale certificate<\/span> to the purchaser<\/span> or purchaser<\/span>’s agent<\/span>, whether or not complete pursuant to § 55.1-2310<\/a>, or a notice that such resale certificate<\/span> is unavailable, occurs after the contract is ratified, the purchaser<\/span> may cancel the contract within a time period agreed upon by all parties to the real estate contract. If no time period is specified in the ratified real estate contract<\/span>, the purchaser<\/span> shall have three days<\/span> from receipt of the resale certificate<\/span> or notice that the resale certificate<\/span> is unavailable to cancel the contract. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> If the resale certificate<\/span> or notice that the resale certificate<\/span> is unavailable has not been delivered to the purchaser<\/span>, the purchaser<\/span> or purchaser<\/span>’s agent<\/span> may cancel the contract at any time prior to settlement<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Written notice of cancellation shall be provided to the seller<\/span> in accordance with the terms of the contract. The purchaser<\/span> shall have the burden to demonstrate delivery of the notice of cancellation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> If the unit<\/span> is governed by more than one association<\/span>, the timeframe for the purchaser<\/span>’s right of cancellation shall run from the date of delivery of the last resale certificate<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> Cancellation shall be without penalty<\/span>, and the seller<\/span> shall cause any deposit or escrowed funds to be returned promptly to the purchaser<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCANCELLATION OF CONTRACT BY PURCHASER (\u00a7 55.1-2312)\n\nA. If delivery of the resale certificate to the purchaser or purchaser’s\nagent, whether or not complete pursuant to § 55.1-2310, or a notice that\nthe resale certificate is unavailable, occurs before the contract is ratified,\nthe purchaser may cancel the contract within a time period agreed upon by all\nparties in the ratified real estate contract. If no time period is specified in\nthe ratified real estate contract, the purchaser shall have three days from the\ndate of ratification to cancel the contract.\n\nB. If delivery of the resale certificate to the purchaser or purchaser’s\nagent, whether or not complete pursuant to § 55.1-2310, or a notice that\nsuch resale certificate is unavailable, occurs after the contract is ratified,\nthe purchaser may cancel the contract within a time period agreed upon by all\nparties to the real estate contract. If no time period is specified in the\nratified real estate contract, the purchaser shall have three days from receipt\nof the resale certificate or notice that the resale certificate is unavailable\nto cancel the contract.\n\nC. If the resale certificate or notice that the resale certificate is\nunavailable has not been delivered to the purchaser, the purchaser or\npurchaser’s agent may cancel the contract at any time prior to settlement.\n\nD. Written notice of cancellation shall be provided to the seller in accordance\nwith the terms of the contract. The purchaser shall have the burden to\ndemonstrate delivery of the notice of cancellation.\n\nE. If the unit is governed by more than one association, the timeframe for the\npurchaser’s right of cancellation shall run from the date of delivery of\nthe last resale certificate.\n\nF. Cancellation shall be without penalty, and the seller shall cause any deposit\nor escrowed funds to be returned promptly to the purchaser.\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}}