General Assembly Update: Week 1

//General Assembly Update: Week 1

General Assembly Update: Week 1

On Wednesday, January 9th, the Virginia General Assembly began its 45 day legislative session.  Being an election year, the session they will only meet for 45 days.  During that time, they will consider more than 2000 bills that have already been introduced and work on several legislative initiatives that affect Virginia REALTORS and clients.

During the shortened first week of the session, Committees have just begun to receive their legislative dockets and will begin considering legislation that will impact Virginia REALTORS next week.

Some of the priority legislation for Virginia Realtors includes the following;

 

HB 2385 – Delegate David Bulova 

Committee Referral Pending             

 

A recent court ruling raised the question of whether the delivery of an “incomplete” disclosure packet in a Property Owners Association (POA) or resale certificate in a Condo Owners Association (COA) begins a buyer’s ability to cancel the contract within the three day right of rescission.

This bill, if enacted, would clarify that the delivery of an “incomplete” packet begins the three-day right of rescission.  The standard will provide more certainty to both buyers and sellers.

 

SB 1292 – Senator Jill Vogel

Referred to the Committee on Courts of Justice

 

In certain real estate transactions, mineral rights may be associated with property that do not necessarily transfer with the purchase of the land, but rather are held as separate owner interests.

This legislation, if enacted, would add “mineral rights” to the Residential Property Disclosure  Statement buyer beware form that each potential buyer receives in a real estate transaction.

This notice will encourage buyers to perform due diligence regarding mineral rights associated with the property.

 

HB 2218 – Delegate Jeff Bourne

Committee Referral Pending

Currently only local Commonwealth Attorneys have the authority to prosecute unlicensed real

estate activity.  Enforcement of unlicensed activity is often secondary to more serious criminal prosecutions.

This bill, if enacted would add unlicensed real estate activity to the Virginia Consumer Protection Act to allow for greater consumer protection against this illegal activity.  Under the Consumer Protection Act, local government attorneys or individual citizens can bring civil action against individuals participating in unlicensed activity.

HB 2352 – Delegate Jason Miyares

Committee Referral Pending

 

SB 1061 – Senator Monty Mason

Referred to the Committee on General Laws and Technology

 

This legislation seeks to clarify that a real estate licensee can hire an unlicensed assistant as an employee or as an independent contractor.  It would allow the Virginia Real Estate Board to define what duties an unlicensed assistant can legally undertake, regardless of whether they are an independent contractor or an employee.

In addition, other bills that could impact Virginia REALTORS may be offered prior to “crossover day” and we will keep you updated on their status.  

Listed below are several resources to help you navigate the legislative session.  You will find the resources to help determine who your elected representative is and how to contact them, how to determine who serves on which committees, as well as when our legislative priorities will be considered.  If you care to do so, you can even watch online as these meeting take place!

John Stirrup serves as our full-time representative in Richmond and advocates on our behalf.  Should you have any questions about legislation, the legislative process, Virginia REALTORS legislative priorities or plan to visit the General Assembly during session, he can be reached by email at stirrup@alcalde-fay.com.

Find your legislator

Live streaming Floor and Committee Meetings

Committee Information

Daily Floor Calendars – voting schedule

By | 2019-01-15T16:02:48-05:00 January 15th, 2019|Recent News|0 Comments

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