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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>80861</law_id><section_number>55.1-2311</section_number><catch_line>Updated resale certificate; financial update</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>55.1-2307</reference><reference>55.1-2308</reference><reference>55.1-2309</reference><reference>55.1-2313</reference><reference>55.1-2314</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="55.1">Property and Conveyances</unit><unit label="subtitle" level="2" order_by="1" identifier="IV">Common Interest Communities</unit><unit label="chapter" level="3" order_by="1" identifier="23.1">Resale Disclosure Act</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> If a resale certificate was issued more than 30 <span class="dictionary">days</span> but less than 12 months before <span class="dictionary">settlement</span>, the <span class="dictionary">seller</span> or the <span class="dictionary">purchaser</span>, upon proof of being the <span class="dictionary">contract</span> <span class="dictionary">purchaser</span> of the <span class="dictionary">unit</span>, may request an <span class="dictionary">updated resale certificate</span>. The <span class="dictionary">updated resale certificate</span> shall be delivered to the person requesting it, or as such person may direct, in the format requested. The <span class="dictionary">updated resale certificate</span> shall be delivered within 10 <span class="dictionary">days</span> after the written request. <a id="paragraph-289851" class="section-permalink" href="https://vacode.org/55.1-2311/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> The <span class="dictionary">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. <a id="paragraph-289852" class="section-permalink" href="https://vacode.org/55.1-2311/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> A <span class="dictionary">settlement agent</span> or other third <span class="dictionary">party</span> authorized by the <span class="dictionary">seller</span> or <span class="dictionary">purchaser</span> may request a <span class="dictionary">financial update</span> and the <span class="dictionary">association</span> shall provide such information within three business <span class="dictionary">days</span> after the written request. <a id="paragraph-289853" class="section-permalink" href="https://vacode.org/55.1-2311/#C"><i class="fa fa-link"/></a></p></section></text><history>2023, cc. 387, 388; 2024, cc. 54, 511.</history><metadata></metadata></law>
