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Virginia Real Estate laws

HomeReal Estate VirginiaVirginia Real Estate laws

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.

States laws keep changing and can be difficult to understand, hence it is advised to consult or hire a lawyer expert in Virginia real estate laws.

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