Requires Disclosure of Developer Control Rights
Virginia · HB621 · Introduced Jan 13, 2026
Why it matters
Owners taking over a community would get more records and maintenance details up front. Home buyers would learn whether the developer still controls the board before they buy.
What it does
- Requires developers to hand over association records, contracts, insurance, and warranties when owners take over the board
- Requires a list of stormwater facilities and how to maintain them
- Requires a statement of receipts and expenses within 60 days of the first owner-elected board election
- Requires sellers to disclose the developer's right to control the association in any sale contract
Status
Latest action (2026-07-21): Continued from last session
About this bill
Would require a developer still running a property owners' association to disclose that control in lot sale contracts. The rule would not apply to contracts for development or resale.
Perspectives
💬 The case for
Homeowner groups would likely say buyers and new boards need full records to avoid hidden problems. Clear disclosure of developer control would protect buyers.
💬 The case against
Some developers and property managers would likely say the paperwork adds cost and delays. They may also argue some required records are not always available.
Sponsored by
Sponsor details for this state bill are at the source link.
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