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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>66774</law_id><section_number>55.1-708.2</section_number><catch_line>Required disclosures pertaining to repetitive loss</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><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="II">Real Estate Settlements and Recordation</unit><unit label="chapter" level="3" order_by="1" identifier="7">Virginia Residential Property Disclosure Act</unit></structure><text>
						<section><p>The owner of residential real property located in the Commonwealth who has actual knowledge that the dwelling unit is a repetitive risk loss structure shall disclose such <span class="dictionary">fact</span> to the purchaser. For purposes of this section, &#x201C;repetitive risk loss&#x201D; means that two or more claims of more than $1,000 were paid by the National Flood Insurance Program within any rolling 10-year period, since 1978. Such disclosure shall be provided to the purchaser on a form provided by the Real Estate Board on its website.</p></section></text><history>2021, Sp. Sess. I, cc. 322, 323.</history><metadata></metadata></law>
