Virginia housing work group backs disclosure on developer 'declarant control'
A Virginia Housing Commission work group agreed without objection to recommend draft disclosure language requiring sellers of new associations to notify buyers about a developer's reserved right to declare control and appoint association boards; the measure is disclosure-only and does not change contract obligations, staff said.
The full story
The Neighborhood Transitions, Local Land Use and Community Living work group of the Virginia Housing Commission agreed to forward draft disclosure language to the full commission that would require clearer notice to purchasers when a developer has reserved rights to declare control of a homeowners association.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
Keep reading for free
Create a free account to finish this story and see the video, transcript and key details.
Continue with GoogleContinue with emailAlready have an account? Log in