Legal Hotline Spotlight

Q: In regards to discriminating by source of funds, are savings accounts, or investment accounts that regularly pay out dividends, protected from discrimination based on source of funds?  Does it matter whether the accounts are international? 

A: Fair housing law prohibits discriminating against a prospective renter or buyer based on the source of their income, or source of funds. The Virginia Code defines “source of funds” as any source that lawfully provides funds to or on behalf of a renter or buyer of housing.  So, a savings account does not apply as it is not an ongoing source of income. However, an investment account that regularly pays out dividends does constitute a source of income, and therefore would have protection from discrimination as a source of funds. The Code does not distinguish between domestic and international accounts; it only requires that the source of funds be lawful. 

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Information accurate as of 04/13/23