{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-3002.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-3002.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-3002.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-3002.html"}],"law_id":78860,"edition_id":1,"section_id":78860,"structure_id":15826,"section_number":"55.1-3002","catch_line":"Provisions applicable to residential executory real estate contracts","history":"2019, c. 511, \u00a7 55-252.3.","full_text":"A\n\nNotwithstanding any other provision of law, a residential executory real estate contract shall be subject to the Virginia Residential Landlord and Tenant Act (§ 55.1-1200 et seq.).B\n\nNotwithstanding any other provision of law, the following provisions shall be applicable to every residential executory real estate contract:1\n\nThe purchaser shall have the right to exercise the option to purchase the property at any time before the option expires, and no fee or penalty shall be charged to any purchaser who exercises the option at an earlier time than anticipated under the contract.2\n\nIf the purchaser defaults in the payment of rent or other requirements under a lease, the vendor may serve notice of such default. If default is limited solely to failure to pay rent or other monetary charges, the vendor may terminate the lease and recover possession of the premises only if the delinquent obligation remains outstanding more than 30 days after notice is served upon the purchaser notifying him of (i) the nonpayment, (ii) the amount of the delinquency, and (iii) the vendor’s intention to terminate the lease if the default is not timely cured.3\n\nThe vendor may not forfeit the option payment or any portion of such payment, provided, however, that the vendor may apply the option payment (i) to any amounts owed by such purchaser under the residential executory real estate contract or (ii) as otherwise directed by court order in an interpleader action filed by such vendor pursuant to § 8.01-364 in a court of competent jurisdiction.4\n\nIf the vendor defaults, the purchaser shall be entitled to bring an action in a court of competent jurisdiction (i) to enjoin further violations; (ii) to recover the purchaser’s actual damages; (iii) for specific performance of the contract; (iv) for rescission; or (v) to receive other equitable relief as the court may find appropriate in the interests of justice.5\n\nThe prevailing party in any proceeding under this chapter in a court of competent jurisdiction may be awarded reasonable attorney fees and costs.C\n\nA residential executory real estate contract may be recorded among the land records in the office of the clerk of the circuit court where the real property is located.D\n\nThe provisions contained in this section shall not be waived by contract.","order_by":null,"text":{"0":{"id":282490,"text":"Notwithstanding any other provision of law, a residential executory real estate contract shall be subject to the Virginia Residential Landlord and Tenant Act (§ 55.1-1200 et seq.).","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":282491,"text":"Notwithstanding any other provision of law, the following provisions shall be applicable to every residential executory real estate contract:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":282492,"text":"The purchaser shall have the right to exercise the option to purchase the property at any time before the option expires, and no fee or penalty shall be charged to any purchaser who exercises the option at an earlier time than anticipated under the contract.","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":282493,"text":"If the purchaser defaults in the payment of rent or other requirements under a lease, the vendor may serve notice of such default. If default is limited solely to failure to pay rent or other monetary charges, the vendor may terminate the lease and recover possession of the premises only if the delinquent obligation remains outstanding more than 30 days after notice is served upon the purchaser notifying him of (i) the nonpayment, (ii) the amount of the delinquency, and (iii) the vendor’s intention to terminate the lease if the default is not timely cured.","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":282494,"text":"The vendor may not forfeit the option payment or any portion of such payment, provided, however, that the vendor may apply the option payment (i) to any amounts owed by such purchaser under the residential executory real estate contract or (ii) as otherwise directed by court order in an interpleader action filed by such vendor pursuant to § 8.01-364 in a court of competent jurisdiction.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"B4"},"5":{"id":282495,"text":"If the vendor defaults, the purchaser shall be entitled to bring an action in a court of competent jurisdiction (i) to enjoin further violations; (ii) to recover the purchaser’s actual damages; (iii) for specific performance of the contract; (iv) for rescission; or (v) to receive other equitable relief as the court may find appropriate in the interests of justice.","type":"section","prefixes":["B","4"],"prefix":"4","entire_prefix":"B4","prefix_anchor":"B4","level":2,"prior_prefix":"B3","next_prefix":"B5"},"6":{"id":282496,"text":"The prevailing party in any proceeding under this chapter in a court of competent jurisdiction may be awarded reasonable attorney fees and costs.","type":"section","prefixes":["B","5"],"prefix":"5","entire_prefix":"B5","prefix_anchor":"B5","level":2,"prior_prefix":"B4","next_prefix":"C"},"7":{"id":282497,"text":"A residential executory real estate contract may be recorded among the land records in the office of the clerk of the circuit court where the real property is located.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B5","next_prefix":"D"},"8":{"id":282498,"text":"The provisions contained in this section shall not be waived by contract.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":15826,"edition_id":1,"name":"Residential Executory Real Estate Contracts Act","identifier":"30","label":"chapter","depth":3,"order_by":1,"parent_id":12708,"metadata":{},"date_created":"2026-06-26 04:00:13","date_modified":"2026-06-26 04:00:13","permalink":{"id":248403,"object_type":"structure","relational_id":15826,"identifier":"30","token":"55.1\/V\/30","url":"\/55.1\/V\/30\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12708,"edition_id":1,"name":"Miscellaneous","identifier":"V","label":"subtitle","depth":2,"order_by":1,"parent_id":12707,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":247771,"object_type":"structure","relational_id":12708,"identifier":"V","token":"55.1\/V","url":"\/55.1\/V\/","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":61064,"structure_id":15826,"section_number":"55.1-3000","catch_line":"Definitions","url":"\/55.1-3000\/","token":"55.1\/V\/30\/55.1-3000","metadata":false},{"id":72273,"structure_id":15826,"section_number":"55.1-3001","catch_line":"Exemptions","url":"\/55.1-3001\/","token":"55.1\/V\/30\/55.1-3001","metadata":false},{"id":78860,"structure_id":15826,"section_number":"55.1-3002","catch_line":"Provisions applicable to residential executory real estate contracts","url":"\/55.1-3002\/","token":"55.1\/V\/30\/55.1-3002","metadata":false},{"id":70484,"structure_id":15826,"section_number":"55.1-3003","catch_line":"Board for Housing and Community Development; development of best practice provisions for residential executory real estate contracts","url":"\/55.1-3003\/","token":"55.1\/V\/30\/55.1-3003","metadata":false}],"previous_section":{"id":72273,"structure_id":15826,"section_number":"55.1-3001","catch_line":"Exemptions","url":"\/55.1-3001\/","token":"55.1\/V\/30\/55.1-3001","metadata":false},"next_section":{"id":70484,"structure_id":15826,"section_number":"55.1-3003","catch_line":"Board for Housing and Community Development; development of best practice provisions for residential executory real estate contracts","url":"\/55.1-3003\/","token":"55.1\/V\/30\/55.1-3003","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-3002\/","history_text":"

This law was first created in 2019. The record of its establishment is cataloged in chapter 511<\/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.<\/p>","references":false,"refers_to":[{"id":61413,"section_number":"55.1-1200","catch_line":"Definitions","order_by":null,"url":"\/55.1-1200\/"},{"id":83669,"section_number":"8.01-364","catch_line":"Interpleader","order_by":null,"url":"\/8.01-364\/"}],"permalink":{"id":248413,"object_type":"law","relational_id":78860,"identifier":"55.1-3002","token":"55.1\/V\/30\/55.1-3002","url":"\/55.1-3002\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-3002\/","token":"55.1\/V\/30\/55.1-3002","dublin_core":{"Title":"Provisions applicable to residential executory real estate contracts","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-3002","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Notwithstanding any other provision of law<\/span>, a residential executory real estate contract<\/span> shall be subject to the Virginia Residential Landlord and Tenant Act (§ 55.1-1200<\/a> et seq.). <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Notwithstanding any other provision of law<\/span>, the following provisions shall be applicable to every residential executory real estate contract<\/span>: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The purchaser<\/span> shall have the right to exercise the option to purchase the property at any time before the option expires, and no fee or penalty<\/span> shall be charged to any purchaser<\/span> who exercises the option at an earlier time than anticipated under the contract. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> If the purchaser<\/span> defaults<\/span> in the payment of rent or other requirements under a lease, the vendor<\/span> may serve notice<\/span> of such default<\/span>. If default<\/span> is limited solely to failure to pay rent or other monetary charges, the vendor<\/span> may terminate the lease and recover possession<\/span> of the premises only if the delinquent obligation remains outstanding more than 30 days after notice<\/span> is served upon the purchaser<\/span> notifying him of (i) the nonpayment, (ii) the amount of the delinquency, and (iii) the vendor<\/span>’s intention to terminate the lease if the default<\/span> is not timely cured. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The vendor<\/span> may not forfeit the option payment<\/span> or any portion of such payment, provided, however, that the vendor<\/span> may apply the option payment<\/span> (i) to any amounts owed by such purchaser<\/span> under the residential executory real estate contract<\/span> or (ii) as otherwise directed by court order<\/span> in an interpleader<\/span> action filed by such vendor<\/span> pursuant to § 8.01-364<\/a> in a court of competent jurisdiction<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> If the vendor<\/span> defaults<\/span>, the purchaser<\/span> shall be entitled to bring an action in a court of competent jurisdiction<\/span> (i) to enjoin further violations; (ii) to recover the purchaser<\/span>’s actual damages<\/span>; (iii) for specific performance of the contract; (iv) for rescission; or (v) to receive other equitable<\/span> relief as the court may find appropriate in the interests of justice. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The prevailing party<\/span> in any proceeding under this chapter in a court of competent jurisdiction<\/span> may be awarded reasonable attorney fees and costs. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A residential executory real estate contract<\/span> may be recorded among the land records in the office of the clerk of the circuit<\/span> court where the real property is located. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The provisions contained in this section shall not be waived by contract. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPROVISIONS APPLICABLE TO RESIDENTIAL EXECUTORY REAL ESTATE CONTRACTS (\u00a7\n55.1-3002)\n\nA. Notwithstanding any other provision of law, a residential executory real\nestate contract shall be subject to the Virginia Residential Landlord and Tenant\nAct (§ 55.1-1200 et seq.).\n\nB. Notwithstanding any other provision of law, the following provisions shall be\napplicable to every residential executory real estate contract:\n\n 1. The purchaser shall have the right to exercise the option to purchase the\n property at any time before the option expires, and no fee or penalty shall be\n charged to any purchaser who exercises the option at an earlier time than\n anticipated under the contract.\n\n 2. If the purchaser defaults in the payment of rent or other requirements\n under a lease, the vendor may serve notice of such default. If default is\n limited solely to failure to pay rent or other monetary charges, the vendor\n may terminate the lease and recover possession of the premises only if the\n delinquent obligation remains outstanding more than 30 days after notice is\n served upon the purchaser notifying him of (i) the nonpayment, (ii) the amount\n of the delinquency, and (iii) the vendor’s intention to terminate the\n lease if the default is not timely cured.\n\n 3. The vendor may not forfeit the option payment or any portion of such\n payment, provided, however, that the vendor may apply the option payment (i)\n to any amounts owed by such purchaser under the residential executory real\n estate contract or (ii) as otherwise directed by court order in an\n interpleader action filed by such vendor pursuant to § 8.01-364 in a\n court of competent jurisdiction.\n\n 4. If the vendor defaults, the purchaser shall be entitled to bring an action\n in a court of competent jurisdiction (i) to enjoin further violations; (ii) to\n recover the purchaser’s actual damages; (iii) for specific performance\n of the contract; (iv) for rescission; or (v) to receive other equitable relief\n as the court may find appropriate in the interests of justice.\n\n 5. The prevailing party in any proceeding under this chapter in a court of\n competent jurisdiction may be awarded reasonable attorney fees and costs.\n\nC. A residential executory real estate contract may be recorded among the land\nrecords in the office of the clerk of the circuit court where the real property\nis located.\n\nD. The provisions contained in this section shall not be waived by contract.\n\nHISTORY: 2019, c. 511, \u00a7 55-252.3.","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}}