Virginia

Virginia HB 234 Passes Both Houses

As of March 5, HB 234 (Senate substitute) unanimously passed both houses. The bill contains provisions that would make it easier for an HOA to advertise the availability of timeshare interests at foreclosure sale.

Virginia HB 233 Passes Both Houses

As of March 5, the HB 233 (Senate substitute) unanimously passed both houses. In summary HB 233 proposes greater consumer disclosure by doing the following: i) requiring any reseller of a timeshare in Virginia be subject to the regulatory authority of the Common Interest Community Board, ii) requiring timeshare resellers to make written disclosures to purchasers concerning the timeshare being resold, and iii) requiring that a separate buyer's acknowledgment form must be provided to each timeshare purchaser disclosing certain information.

 

Virginia Timeshare Foreclosure Bill Passes House

ARDA-ROC is actively lobbying on behalf of HB 234 in conjunction with the Virginia Resort Development Association (VRDA). HB 234 contains provisions that would make it easier for an HOA to advertise the availability of timeshare interests at foreclosure sale.