Virginia § 55.1-3202 Prohibited terms

Virginia Statutes

§ 55.1-3202 — Prohibited terms

Virginia § 55.1-3202

Title 55.1Property and Conveyances

Subtitle VMiscellaneous

Ch. 32Unfair Real Estate Service Agreement Act

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Bluebook

Va. Code Ann. § 55.1-3202 (2026).

Text

A.No real estate service agreement that is effective and binding for more than one year from the effective date shall:

1.Purport to run with the land or bind future owners of interests in the residential real property identified in the service agreement;

2.Allow the service provider to assign or transfer the right to provide services under the service agreement without notice to and written agreement of all parties to the service agreement; or

3.Purport to create a lien, encumbrance, or other real property security interest on the residential real property identified in the service agreement.

B.Offering a real estate service agreement that violates subsection A to a consumer constitutes a prohibited practice under the provisions of § 59.1-200 and shall be subject to the provisions

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A. No real estate service agreement that is effective and binding for more than one year from the effective date shall:

1. Purport to run with the land or bind future owners of interests in the residential real property identified in the service agreement;

2. Allow the service provider to assign or transfer the right to provide services under the service agreement without notice to and written agreement of all parties to the service agreement; or

3. Purport to create a lien, encumbrance, or other real property security interest on the residential real property identified in the service agreement.

B. Offering a real estate service agreement that violates subsection A to a consumer constitutes a prohibited practice under the provisions of § 59.1-200 and shall be subject to the provisions of the Virginia Consumer Protection Act (§ 59.1-196 et seq.). Nothing in this subsection shall be construed to prevent an individual from pursuing any other remedy available by law.