                                 CODE OF VIRGINIA

SCOPE OF CHAPTER; LAY REAL ESTATE SETTLEMENT AGENTS (§ 55.1-1002)

A. Except as provided in subsection B, this chapter applies only to transactions
involving the purchase of or lending on the security of real estate located in
the Commonwealth containing not more than four residential dwelling units.

B. Notwithstanding any rule of court or other provision of this chapter to the
contrary:

   1. A lay real estate settlement agent may provide escrow, closing, and
   settlement services for any real property located within the Commonwealth, and
   receive compensation for such services, provided that he is registered
   pursuant to and is in compliance with the provisions of this chapter with the
   exception of subsection A; and

   2. A party to a real estate transaction involving the purchase of or lending
   on the security of real estate located in the Commonwealth containing more
   than four residential dwelling units shall have the same authority as a party
   to a real estate transaction as is provided pursuant to subsection B of &#xA7;
   55.1-1003.

HISTORY: 1997, c. 716, § 6.1-2.19; 1998, cc. 69, 162, 736; 1999, c. 647, §
6.1-2.32; 2010, c. 794, § 55-525.18; 2019, c. 712.