Virginia § 55.1-3001 - Exemptions
Full text of Virginia Code of Virginia § 55.1-3001 — Exemptions, with citation guidance and answers to common questions.
§ 55.1-3001. Exemptions
The provisions of this chapter shall not apply to residential executory real estate contracts where the vendor is:
1. A natural person, an estate, or a legal entity that owns no more than two single-family residential dwelling units in the Commonwealth unless the person or entity is an agent, affiliate, subsidiary, or parent company to another legal entity that owns at least one additional residential dwelling unit in the Commonwealth;
2. A real estate licensee pursuant to Chapter 21 (§ 54.1-2100 et seq.) of Title 54.1; or
3. A bank, savings institution, credit union, or mortgage lender licensed under Title 6.2.
2019, c. 511, § 55-252.2.
Frequently Asked Questions About Virginia § 55.1-3001
What does Code of Virginia § 55.1-3001 cover?
Section 55.1-3001 ("Exemptions") 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 § 55.1-3001?
A common citation format is "Code of Virginia § 55.1-3001" (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 § 55.1-3001 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.