Virginia § 55.1-3000 - Definitions
Full text of Virginia Code of Virginia § 55.1-3000 — Definitions, with citation guidance and answers to common questions.
§ 55.1-3000. Definitions
As used in this chapter, unless the context requires a different meaning:
"Notice" means notice given in writing by either regular mail or hand delivery, with the sender retaining sufficient proof of having given such notice in the form of a certificate of service confirming such mailing or hand delivery prepared by the sender.
"Option payment" means the amount paid by the purchaser in a residential executory real estate contract in exchange for the right to purchase the property that is the subject of such contract at a specific price within a specified time.
"Purchaser" means a person who enters into a residential executory real estate contract.
"Residential executory real estate contract" means an installment land contract, lease option contract, or rent-to-own contract by which a purchaser acquires any right or interest in real property other than a right of first refusal and occupies or intends to occupy the property as his primary residence.
"Vendor" means the person who sells, or proposes to sell, real property under a residential executory real estate contract.
2019, c. 511, § 55-252.1.
Frequently Asked Questions About Virginia § 55.1-3000
What does Code of Virginia § 55.1-3000 cover?
Section 55.1-3000 ("Definitions") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 55.1-3000?
A common citation format is "Code of Virginia § 55.1-3000" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 55.1-3000 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.