HB1706: Va. Residential Property Disclosure Act; required disclosures for buyer to beware.

Legislative Summary

Virginia Residential Property Disclosure Act; required disclosures for buyer to beware; aircraft noise. Requires that the owner of a residential real property include in the residential property disclosure statement provided to a potential purchaser of such residential real property a statement that the owner makes no representations or warranties with respect to the property's proximity to a public use airport nor any noise from aircraft due to the proximity of the property to flight operations, and purchasers are advised to exercise whatever due diligence they deem necessary to determine whether the property is within proximity to a flight path or public use airport aircraft noise zone. The bill also requires the Department of Aviation to establish and provide to the Real Estate Board by July 31, 2025, a website address that allows purchasers to access public use airport aircraft noise zone maps, and requires the Real Estate Board to include such website address on the form for signature by the parties stating that the purchaser has been advised of the disclosures listed in the residential property disclosure statement. As introduced, this bill was a recommendation of the Virginia Housing Commission. This bill is identical to SB 1210.