Virginia Residential Property Disclosure Act: Your Rights and Obligations Summarized

The Short Answer

The Summary of Rights and Obligations is a state-prepared overview of the Virginia Residential Property Disclosure Act. It explains which sales the law covers, which are exempt, when the seller must deliver the disclosure statement, what the buyer can do if it arrives late, and how seller liability works. It's informational, so it doesn't change your contract, but it tells you the rules the contract operates under.

This guide is part of my series on the documents you'll sign buying or selling a home in Virginia, which walks through the main forms in the order they show up.

Which Sales the Act Covers

The Act applies to sales, exchanges, installment sales and lease-with-option-to-buy arrangements for residential property with one to four units. That covers single-family homes, townhomes, condos and small multifamily properties like duplexes.

Common Exemptions

Some transfers aren't covered. In plain English, these include court-ordered transfers (such as many estate sales and foreclosures), transfers between co-owners, between spouses, and between parents or grandparents and their children or grandchildren, tax sales, transfers to or from government agencies, and certain new homes, which have their own builder disclosure rules.

If you're selling an inherited home, whether the exemption applies depends on how the sale is happening. My guide to selling an inherited house in Virginia covers that process, and a title company or attorney can confirm which rules apply.

Timing and the Buyer's Right to Terminate

The seller must give the buyer the signed disclosure before the purchase agreement is ratified. If that doesn't happen, the buyer's only remedy under the Act is to terminate the contract by written notice.

That right doesn't last forever. It ends at the earliest of: three days after the disclosure is hand-delivered, five days after it's mailed, settlement, occupancy, a loan application that discloses the termination right ends, or the buyer signing a written waiver. For sellers, this is the strongest reason to deliver disclosures early: a late disclosure hands the buyer a short window to walk away.

Seller Liability and Claims

A seller who complies with the Act has limited liability under it. Claims for damages have to be brought within one year, counted from when the buyer received the disclosure statement or, if none was provided, from settlement or occupancy, whichever came first. And there's no damage claim related to aircraft noise for properties in zones below 65 decibels, which ties into the military air installation disclosure.

What Doesn't Have to Be Disclosed

Neither sellers nor agents have to disclose that a home was the site of a homicide, felony or suicide, or other facts that don't affect the physical condition of the property. Buyers who care about a home's history should research it themselves.

Builders of new homes, on the other hand, must disclose known material defects that violate the building code.

What People Commonly Misunderstand

"I can cancel any time if I didn't get the disclosure." The window closes quickly once the buyer receives it, and at settlement or occupancy at the latest.

"Estate sales never need disclosures." Some do and some don't. It depends on how the transfer happens.

"A stigma has to be disclosed." Not under the Act, as long as it doesn't affect the physical property.

Frequently Asked Questions

Does the Act cover condos? Yes, if it's residential property with one to four units. Condo resale rules also apply separately.

How long does a buyer have to bring a claim? Generally one year from receiving the disclosure statement, or from settlement or occupancy if no statement was provided.

Is the Summary itself a contract? No. It's an informational summary of the law.

Next Steps

I make sure my sellers deliver disclosures before ratification and my buyers understand what they've received. Reach out to me if you want to talk through your situation.

This article is general information about how these documents commonly work in Virginia, not legal advice. Forms are updated from time to time and every transaction is different, so read the version you're actually given and talk with a Virginia real estate attorney about legal questions.