55-517 - Applicability. - Virginia Statutes

§ 55-517. Applicability.

The provisions of this chapter apply only with respect to transfers by sale,exchange, installment land sales contract, or lease with option to buyresidential real property consisting of not less than one nor more than fourdwelling units, whether or not the transaction is with the assistance of alicensed real estate broker or salesperson. For the purposes of this chapter,a "real estate contract" means a contract for the sale, exchange, or leasewith the option to buy residential real estate subject to this chapter.

(1992, c. 717; 2007, c. 265.)