The 2022 Virginia General Assembly convenes in less than one month, and next year’s session will bring significant changes to Capitol Square. Virginia will have three new statewide elected officials with Governor-Elect Glenn Youngkin, Lt. Governor-Elect Winsome Sears, and Attorney General-Elect Jason Miyares being sworn into office on January 15th. This will be the first time since 2013 that Republicans will control all three executive branch offices.
The legislature will see a shift in control as well, with Republicans in the House of Delegates taking a slim 52-48 majority. The state Senate remains a close 21-19 Democratic majority.
Despite restructured committees in the House, turnover in executive branch offices, and a divided General Assembly, our association is well-positioned for another successful year. The Virginia REALTORS® government relations team maintains strong, bipartisan relationships, and legislators understand and respect the unified REALTOR® voice that represents virtually every community throughout the commonwealth.
With these new dynamics in mind, here is a primer on the 2022 Virginia REALTORS® Legislative Agenda.
REALTOR® Group Health Plan
Virginia law already allows certain business and trade groups to pool together in a fully insured large group health plan to offer their members another choice for affordable, quality health insurance. Because of the self-employed status of our members, thousands of Virginia REALTORS® are prohibited from accessing affordable coverage through these group health plans. Virginia REALTORS® is seeking a narrowly tailored law that will specifically allow our association to pursue this group health plan option.
Death or Disability of a Real Estate Broker
Currently, the Virginia Real Estate Board must petition the court to appoint someone to close out a real estate business within 180 days in the event of the death or disability of a broker. This legislation will give the VREB the flexibility to appoint an appropriate person to close out the business in a timelier manner.
Working with the Virginia Real Estate Board, this legislation would clarify that a broker shall ensure an earnest money deposit is delivered to the escrow agent named in the contract by the end of the fifth business banking day following receipt, unless otherwise agreed to in writing by the principals to the transaction. This helps protect brokers from escrow violations when a third party is delivering and/or hold escrow monies.
Legislation to clarify a buyer is entitled to obtain owner’s title insurance that meets the standard of the American Land Title Association.
Common Interest Communities
Amend the Property Owners and Condo Owners associations acts to:
- Require that CICs recognize a real estate licensee’s right to represent a client for certain association matters with written consent.
- Clarify that a third-party vendor delivering CIC packets for an association is under the same 14-day packet delivery laws as the association itself.
More information on the legislative agenda and other bills of interest will be available as we get closer to the 2022 General Assembly Session. If you have questions or thoughts about the agenda, please contact us at firstname.lastname@example.org.