NEW VIRGINIA LAW REGARDING REAL ESTATE FOR SALE SIGNS

There seems to be some confusion about this new addition to the resale provisions in the Condominium Act and the Property Owners Association Act. As of July 1, 2017 there is a new Virginia law, passage of which was promoted by the Virginia Association of Realtors, which will impact unit owners and lot owners in nearly all community associations as to “For Sale” signs. (No other types of signs, like “For Rent” signs, are covered by these new laws.).

 

The new provisions begin by stating that unless there are clear statements on sign restrictions contained in the declaration of an HOA or the declaration or bylaws of a condo association then the restrictions set forth in the new laws will apply. The restrictions in your recorded documents do not need to conform to the new laws.

If there are no provisions concerning signs in the governing documents, the new laws DO NOT prevent community associations from having control over the placement and type of “For Sale” signs but there are some restrictions on that authority which are:

1.    In a property owners association, the Association may require a “For Sale” sign to be an Association crafted sign, even if it does not comply with the requirements of the Real Estate Board, so long as that is clearly provided for in the recorded Declaration (or properly recorded amendments to the Declaration).

2.    The same language is found in the Condominium Act except the restrictions on signs must be in the recorded condominium declaration, the bylaws or an amendment to the declaration or bylaws.

3.    All community associations may prohibit the placement of “For Sale” signs in the common area.

4.    In a property owners association, an Association may adopt rules on “For Sale” signs on an owners’ property related to:

     a.          The number of signs - so long as they are allowed at least one sign;

     b.         The location of signs - so long as it does not violate the Real Estate Board’s requirements;

     c.          The way signs are affixed to the property and

     d.         When signs have to be removed after settlement.

5.    In condominiums, an Association may adopt rules on “For Sale” signs on the owners’ property (or the exclusive limited common area of an owner) related to:

     a.       The number of signs - so long as they are allowed at least one sign;

     b.      The location of signs - so long as it does not violate the Real Estate Board’s requirements;

     c.        The way signs are affixed to the property and

     d.       When signs have to be removed after settlement.

These new provisions are found in Section 55-509.4 J of the Property Owners Association Act and Section 55-79.97 K of the Condominium Act. Please let us know if you have questions about this unusually focused statute.