Virginia real estate laws are made to handle issues related to tenant-landlord relation, homestead protection and adverse possession.
The homestead protection laws:
Some of the facts about the Virginia homestead protection laws are as follows:
- The homestead protection laws are designed to protect part of the property from the creditors and are placed under the code section 34-4 in the Virginia law.
- The maximum property value that can be designated for homestead protection is in general $5,000.
- If the individual claiming the property is support dependent, then a plus $500 for each dependent is also provided.
The lease and rental agreement laws:
Virginia tenant-landlord laws are contractually designed through lease and rental agreements that provide information about security deposit, outlawed discriminations and more.
- Security deposit amount is limited to 2 months rent only.
- Landlord has to return the security amount within 30 days of tenancy termination (amount needed for repair and/or cleaning, if any, can be deducted from the security amount).
- Discrimination on the basis of familial status, color, national origin, race, sex, and elderliness is strictly banned in Virginia.
Adverse Possession laws:
Also referred as Continuous trespassers’ laws, Adverse Possession laws are formed to help individuals who have publically inhabited and improved a home on other’s land/property which was otherwise neglected.
- The individual can claim the title after inhabiting the land for 15 years or more. However, the stay should be exclusive and continuous for the specified time.
- The property should be taken without informing the owner.
- The claimant must be physically present on the property.
- The property possession should be open; evident to onlookers.