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Legal definition of Property Association Act

Home Owner Association Disclosure – Virginia Code Section 55-508 et seq. (the Virginia Property Owners’ Association Act) requires the Seller of a property within a Home Owner Association to provide to the purchaser an Association Disclosure Packet containing information about the current financial status of the Association and the covenants and restrictions (see Code Section 55-512 for a list of required information or speak with one of our real estate attorneys about your rights under the Act).