Cal. Civ. Code § 55.1-3001
Exemptions.
Operative Text
The provisions of this chapter shall not apply to residential executory real estate contracts where the vendor is: 1. A natural person, an estate, or a legal entity that owns no more than two single-family residential dwelling units in the Commonwealth unless the person or entity is an agent, affiliate, subsidiary, or parent company to another legal entity that owns at least one additional residential dwelling unit in the Commonwealth; 2. A real estate licensee pursuant to Chapter 21 (§ 54.1-2100 et seq.) of Title 54.1; or 3. A bank, savings institution, credit union, or mortgage lender licensed under Title 6.2.
Va. Code § 55.1-3001 carves out certain sellers from the consumer-protection requirements that otherwise govern residential executory real estate contracts (also called land installment contracts) in Virginia. Specifically, the chapter's rules do not apply when the seller is a small individual owner holding no more than two single-family homes in the state—provided that owner is not connected to a larger ownership network—or when the seller is a licensed real estate professional, bank, savings institution, credit union, or licensed mortgage lender. The exemption reflects a legislative judgment that these categories of vendors either face separate regulatory oversight or pose a lower risk profile than large-scale installment-contract sellers.
Plain English — not legal advice.
Property owners and managers who sell homes on installment or executory contract terms should determine at the outset whether Va. Code § 55.1-3001 exempts them from the chapter's requirements. A compliant operator in this context typically documents how many single-family residential units it owns in Virginia and confirms it has no agency, affiliate, subsidiary, or parent-company relationships that would push the total above the two-unit threshold. Vendors who are licensed real estate professionals or who operate as regulated financial institutions under Title 6.2 generally track their licensure status as part of routine compliance to confirm their exempt standing.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
If you are purchasing a home through a residential executory real estate contract in Virginia, Va. Code § 55.1-3001 determines whether the seller is required to comply with the chapter's protective provisions. When a seller claims an exemption—for example, by asserting they own only two or fewer single-family units—tenants and buyers can look into whether the seller has undisclosed affiliations with larger ownership entities that might disqualify that claim. Tenant-rights organizations and housing counselors can help buyers understand whether the exemption applies and what options exist, such as raising a violation as a defense or seeking guidance from a housing attorney.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated October 22, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
Effective Timeline
References Out
No outbound references recorded yet for this provision.
References In
No inbound references recorded yet for this provision.