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2020 Code of Virginia
Title 55.1 - Property and Conveyances
Chapter 7 - Virginia Residential Property Disclosure Act
§ 55.1-708.2. (Effective January 1, 2022) Required disclosures pertaining to repetitive loss
Universal Citation: VA Code § 55.1-708.2 (2020)
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.
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