CODE OF VIRGINIA

PROHIBITED TERMS (§ 55.1-3202)

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: 2024, cc. 328, 362.