                                 CODE OF VIRGINIA

UPDATED RESALE CERTIFICATE; FINANCIAL UPDATE (§ 55.1-2311)

A. If a resale certificate was issued more than 30 days but less than 12 months
before settlement, the seller or the purchaser, upon proof of being the contract
purchaser of the unit, may request an updated resale certificate. The updated
resale certificate shall be delivered to the person requesting it, or as such
person may direct, in the format requested. The updated resale certificate shall
be delivered within 10 days after the written request.

B. The updated resale certificate shall contain current information for all
items that may have changed from the original resale certificate or a statement
that there are no changes.

C. A settlement agent or other third party authorized by the seller or purchaser
may request a financial update and the association shall provide such
information within three business days after the written request.

HISTORY: 2023, cc. 387, 388; 2024, cc. 54, 511.