Virginia § 54.1-2138.2 Duty to disclose ownership interest in specific real property

Virginia Statutes

§ 54.1-2138.2 — Duty to disclose ownership interest in specific real property

Virginia § 54.1-2138.2

Title 54.1Professions and Occupations

Subtitle IIProfessions and Occupations Regulated by the Department of Professional and Occupational Regulation and Boards Within the Department

Ch. 21Real Estate Brokers, Sales Persons and Rental Location Agents

Art. 3Duties of Real Estate Brokers and Salespersons

This text of Virginia § 54.1-2138.2 (Duty to disclose ownership interest in specific real property) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 54.1-2138.2 (2026).

Text

If a licensee knows or should have known that he, any member of his family, his firm, any member of his firm, or any entity in which he has an ownership interest is acquiring or attempting to acquire or is selling or leasing real property through purchase, sale, or lease and the licensee is a party to the transaction, the licensee must disclose in writing that he is a licensee and that he, any member of his family, his firm, any member of his firm, or any entity in which he has an ownership interest has or will have an ownership interest to the other parties to the transaction. This disclosure shall be made to the purchaser, seller, lessor, or lessee upon having substantive discussions about specific real property.

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If a licensee knows or should have known that he, any member of his family, his firm, any member of his firm, or any entity in which he has an ownership interest is acquiring or attempting to acquire or is selling or leasing real property through purchase, sale, or lease and the licensee is a party to the transaction, the licensee must disclose in writing that he is a licensee and that he, any member of his family, his firm, any member of his firm, or any entity in which he has an ownership interest has or will have an ownership interest to the other parties to the transaction. This disclosure shall be made to the purchaser, seller, lessor, or lessee upon having substantive discussions about specific real property.