HB 1342

Abstract

Virginia Residential Property Disclosure Act; required disclosures for buyer to beware; lead pipe; defective drywall. Adds to the disclosure statement required to be furnished to the buyer by the owner of residential real property that the buyer beware and exercise necessary due diligence (i) with respect to whether the property contains any pipe, pipe or plumbing fitting, fixture, solder, or flux that does not meet the federal Safe Drinking Water Act definition of "lead free" and (ii) with respect to the existence of defective drywall on the property.

Virginia Residential Property Disclosure Act; required disclosures for buyer to beware; lead pipe; defective drywall. Adds to the disclosure statement required to be furnished to the buyer by the owner of residential real property that the buyer beware and exercise necessary due diligence (i) with respect to whether the property contains any pipe, pipe or plumbing fitting, fixture, solder, or flux that does not meet the federal Safe Drinking Water Act definition of "lead free" and (ii) with respect to the existence of defective drywall on the property.

Virginia Residential Property Disclosure Actand Virginia Residential Landlord and Tenant Act; required disclosures;lead pipe. Requires the owner of a residential dwelling who hasactual knowledge of the existence of lead pipe in such dwelling unitto provide to a prospective purchaser a written disclosure that theproperty has lead pipe. Such disclosure shall be provided to the purchaser on a form provided by the Real Estate Board on its website. The billalso requires any landlord of a dwelling unit who has actual knowledgeof the existence of lead pipe in such dwelling unit to disclose thatinformation to a prospective tenant. Any tenant who is not providedwith such disclosure may terminate the lease agreement at any time within 60 days of discovery of the existence of lead pipe by providingwritten notice to the landlord. The bill defines "lead pipe" as anypipe or pipe or plumbing fixture, solder, or flux that does not meetthe federal Safe Drinking Water Act definition of "lead free."