43-13.3 - An affidavit or a signed statement of payment required of owner prior to sale or refinance; penalty. - Virginia Statutes

§ 43-13.3. An affidavit or a signed statement of payment required of ownerprior to sale or refinance; penalty.

Any person who is the owner of a one- or two-family residential dwelling unitnot included within the scope of § 43-13.2 shall, at the time of settlementon the sale of such property, provide the purchaser, or lender in the case ofa permanent loan or refinance, with an affidavit or a signed statementattested to by a witness stating either (i) that all persons performing laboror furnishing materials in connection with any improvements on such propertywithin 120 days prior to the date of settlement and with whom such owner isin privity of contract have been paid in full, or (ii) the name, address andamount payable or claimed to be payable to any person so performing labor orfurnishing materials and with whom such owner is in privity of contract. Anywillful material misrepresentation in the affidavit or signed statementattested to by a witness which causes a monetary loss to any financialinstitution, title company, or purchaser shall be punishable as a Class 3misdemeanor.

(1994, c. 388; 2003, c. 400.)