55-525.22 - (Effective October 1, 2010) Choice of settlement agent. - Virginia Statutes

§ 55-525.22. (Effective October 1, 2010) Choice of settlement agent.

A purchaser or borrower in a transaction related to real estate in theCommonwealth shall have the right to select the settlement agent to provideescrow, closing, or settlement services in connection with the transaction.The seller in such a transaction may not require the use of a particularsettlement agent as a condition of the sale of the property.

(2009, c. 140, § 6.1-2.21:1; 2010, c. 794.)