                                 CODE OF VIRGINIA

EXEMPTIONS (§ 55.1-3001)

The provisions of this chapter shall not apply to residential executory real
estate contracts where the vendor is:

1. A natural person, an estate, or a legal entity that owns no more than two
single-family residential dwelling units in the Commonwealth unless the person
or entity is an agent, affiliate, subsidiary, or parent company to another legal
entity that owns at least one additional residential dwelling unit in the
Commonwealth;

2. A real estate licensee pursuant to Chapter 21 (&#xA7; 54.1-2100 et seq.) of
Title 54.1; or

3. A bank, savings institution, credit union, or mortgage lender licensed under
Title 6.2.

HISTORY: 2019, c. 511, § 55-252.2.