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 fact to the purchaser. For purposes of this section, "repetitive risk loss" 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.
2021, Sp. Sess. I, cc. 322, 323.
Structure Code of Virginia
Title 55.1 - Property and Conveyances
Chapter 7 - Virginia Residential Property Disclosure Act
§ 55.1-703. Required disclosures for buyer to beware; buyer to exercise necessary due diligence
§ 55.1-704. Required disclosures pertaining to a military air installation
§ 55.1-706. Required disclosures; pending building or zoning violations
§ 55.1-706.1. Required disclosures; lis pendens
§ 55.1-707. Permissive disclosure; tourism activity zone
§ 55.1-708. Required disclosures; property previously used to manufacture methamphetamine
§ 55.1-708.1. Required disclosures; stormwater management facilities
§ 55.1-708.2. Required disclosures pertaining to repetitive loss
§ 55.1-709. Time for disclosure; termination of contract
§ 55.1-711. Change in circumstances
§ 55.1-712. Duties of real estate licensees
§ 55.1-713. Actions under this chapter
§ 55.1-714. Real Estate Board to develop form; when effective