Virginia Senate Bill 1087 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 13 2015 - 25% progression, died in chamber
Action: 2015-01-19 - Stricken at the request of Patron in Courts of Justice (12-Y 0-N)
Text: Latest bill text (Prefiled) [HTML]

Option contracts for the purchase of residential property; required provisions. Establishes required contract provisions whenever an owner of residential property enters into an option contract with another party to purchase the residential property. The bill also provides that any residential rental agreement that is entered into will be subject to the Virginia Residential Landlord and Tenant Act. Under the bill, if the required provisions are not included in the contract, the other party to the contract shall have the right to cancel the contract at any time and shall be entitled to (i) a full refund of any amount paid to the seller under the contract; (ii) actual damages or $500, whichever is greater; and (iii) reasonable attorney fees.

Residential property; option contracts for purchase, required provisions.

Sen. Jill Vogel [R]

2015-01-19 - Senate - Senate: Stricken at the request of Patron in Courts of Justice (12-Y 0-N) (Y: 12 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2015-01-19	Senate	Stricken at the request of Patron in Courts of Justice (12-Y 0-N)
2015-01-13	Senate	Referred to Committee for Courts of Justice
2015-01-13	Senate	Prefiled and ordered printed; offered 01/14/15 15103175D

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?151+sum+SB1087
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+SB1087+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+S03V0055+SB1087