Real Estate Transactions in Virginia

Real Estate Transactions in Virginia
Publication Date: 2020 Edition (December 2019)
Electronic Forms: 88
Available Formats: Print (1,915 pages, softcover, 2 volumes)
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Product #: 880

Information

Content Highlights:
  • Residential Real Estate Contracts
  • Commercial Real Estate Contracts
  • Mechanics’ Liens
  • Survey Basics
  • Forms of Holding Title
  • The Deed
  • Residential Financing
  • Title Examinations and Insurance
  • Commercial Loan Documentation
  • Residential Closings
  • The Uniform Commercial Code
  • Opinion Letters
  • Like-Kind Exchanges Under I.R.C. § 1031
  • Planning and Zoning
  • Real Estate Brokerage Law
  • Condominiums and Property Owners’ Associations
  • Foreign Owners of Real Estate in Virginia

"This book is important because it provides both experienced and inexperienced real estate attorneys with current law and practice pointers. It also serves as a convenient reference book for those basic points of Virginia real property law that we learned in law school and think we recall correctly, but are not certain. Forms also add to its usefulness."

- Neil S. Kessler and Paul H. Melnick, co-editors

From the moment a client arrives seeking your advice and assistance to negotiate a purchase contract through the day the sale closes, this two-volume handbook presents a comprehensive treatment of the opportunities and challenges that must be considered to bring the transaction to a successful conclusion. It includes literally thousands of references to state and federal statutes, rules, regulations, and case law. Plus, checklists, practical expert advice, and suggestions or forms for almost any contingency.

This edition has been revised to conform to new Title 55.1 (Property and Conveyances), effective October 1, 2019. Its many updates include:

  • Updated disclosures that are mandated for residential sales
  • Commentary to the new Title that clarify changes to the law
  • Cybersecurity concerns in real estate closings
  • Changes to the federal law on I.R.C. § 1031 exchanges
  • New guidance on preparing opinion letters in real estate finance transactions

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A Guide to Real Estate in Virginia

Eminent Domain Law in Virginia

Virginia Construction Law Deskbook

Virginia Civil Practice Forms

Virginia Law and Practice: A Handbook for Attorneys

The Virginia Lawyer: A Deskbook for Practitioners

 

Table of Contents

CHAPTER LIST

1. Ethical Considerations

2. Residential Real Estate Contracts

3. Commercial Real Estate Contracts

4. Mechanics’ Liens

5. Title Examinations

6. Title Insurance

7. Survey Basics

8. Forms of Holding Title

9. The Deed

10. Residential Financing

11. Commercial Loan Documentation

12. Residential Closings

13. The Uniform Commercial Code

14. Opinion Letters in Real Estate Transactions

15. Like-Kind Exchanges Under I.R.C. § 1031

16. Planning and Zoning

17. Real Estate Brokerage Law

18. Condominiums and Property Owners’ Associations

19. Foreign Owners of Real Estate in Virginia

CHAPTER 1: ETHICAL CONSIDERATIONS

1.1 INTRODUCTION

1.2 ACQUIRING CLIENTS
        1.201 Communications
        1.202 Explaining and Advertising Fees
        1.203 “Specializing” in Real Estate
        1.204 Referrals
        1.205 Publicity
        1.206 “Everybody’s Doing It” Rationale
        1.207 Best Method for Long-Term Growth

1.3 OFFICE-SHARING

1.4 WHO IS THE “CLIENT”?
        1.401 In General
        1.402 Implied Attorney-Client Relationships
        1.403 Nonclients and Third-Party Beneficiaries

1.5 FEES
        1.501 Legal Fees
        1.502 Nonlegal Fees

1.6 STANDARD OF CARE GENERALLY
        1.601 Duties and Warranties
        1.602 What “Everybody’s Doing”
        1.603 Statutes of Limitations for Malpractice and
        Disciplinary Complaints

1.7 FIDUCIARY STANDARD OF CARE
        1.701 Undiluted-Loyalty Duties and Warranties
        1.702 Disclosure Duties and Nondisclosures
        1.703 Per Se Disqualifying Interests
        1.704 Interests of Lawyer, Colleague, Relative, or Spouse
        1.705 Interests of Other or Former Clients
        1.706 Funds and Property of Clients
        1.707 Funds and Property of Nonclients
        1.708 Disbursement Standards
        1.709 Trust Account: Bank’s Required Agreement with
        Virginia State Bar
        1.710 Interest on Funds in Trust
        1.711 Limiting Liabilities, Duties, or Warranties
        1.712 Powers of Attorney
        1.713 Confidences and Secrets

1.8 LEGAL STANDARD OF CARE
        1.801 In General
        1.802 Implied Attorney-Client Relationship
        1.803 Duties and Warranties to Nonclients
        1.804 Limiting Liability, Duties, or Warranties
        1.805 Negligence

1.9 COMMUNICATING WITH THE CLIENT

1.10 REAL ESTATE SALES CONTRACTS
        1.1001 Advice and Counsel
        1.1002 Non-Lawyer Preparing Contract or Furnishing Advice

1.11 LEGAL DOCUMENTS GENERALLY

1.12 TITLE SEARCH AND OPINION
        1.1201 Implied Title Search Duties and Implied Title
        Opinions
        1.1202 Negligent Title Search
        1.1203 Clerk’s Records, Abstracts, and Indexing Errors
        1.1204 Limitations and Disclaimers

1.13 TITLE INSURANCE
        1.1301 Title Opinions Versus Title Insurance
        1.1302 Reliance on Abstracts and Files of Title Insurance
        Companies
        1.1303 Failure to Inform Client of Availability of Title
        Insurance
        1.1304 Failure to Obtain Title Insurance
        1.1305 Unreasonable Delay in Disbursing Title Insurance
        Premiums
        1.1306 Lawyer as Agent of Title Insurance Company
        1.1307 Proprietary Interest in Title Insurance Company
        1.1308 Title Insurance Company Issuing Binder or Policy
        Directly to Non-Lawyer
        1.1309 Legal Opinion and Advice by Title Insurance
        Company
        1.1310 Insuring Closings by “Approved Attorneys”
        1.1311 Approved Attorney’s Duties to Title Insurance
        Company
        1.1312 Title Insurance Premiums and Legal Fees
        1.1313 Mechanics’ and Materialmen’s Lien Agent
        1.1314 Legal Services Provided by Lawyer Employed by Title
        Insurance Company

1.14 MECHANICS’ AND MATERIALMEN’S LIENS

1.15 FUNDS AND PROPERTY

1.16 ESCROW AGREEMENTS

1.17 CLOSINGS
        1.1701 Who Is the Client: Lender, Borrower, or Seller?
        1.1702 Deeds
        1.1703 Deeds of Trust
        1.1704 Recordation
        1.1705 Disbursements
        1.1706 Settlement
        1.1707 Satisfaction and Release

1.18 REAL ESTATE AGENTS
        1.1801 Referrals from Real Estate Agents
        1.1802 Preparing Contracts
        1.1803 Preparing Deeds and Deeds of Trust
        1.1804 Giving Legal Advice
        1.1805 Sales Commissions
        1.1806 Purchaser’s Lawyer Representing Agent Against
        Seller
        1.1807 Interests of Lawyer, Spouse, or Law Firm in Real
        Estate Agency
        1.1808 Dual Practice as Real Estate Agent and Lawyer

1.19 PURCHASERS AND BORROWERS
        1.1901 Referrals from Interested Parties
        1.1902 Second Deeds of Trust by Borrowers
        1.1903 Multiple Representation of Purchaser-Borrower,
        Lender, or Seller
        1.1904 Misindexed Prior Deeds of Trust

1.20 LENDERS
        1.2001 Referrals from Lenders
        1.2002 Counsel for Lender or Loan Officer as Trustee on Deed
        of Trust
        1.2003 Preparing Deeds and Deeds of Trust
        1.2004 Giving Legal Advice
        1.2005 Lawyer Representing Lender and Borrower or Seller
        1.2006 Construction Loans
        1.2007 Lenders’ Loan-Closing Instructions

1.21 SELLERS, CONTRACTORS, AND DEVELOPERS
        1.2101 Referrals from Seller, Contractor, or Developer
        1.2102 Counsel for Purchaser-Borrower as Trustee on Second
        Deed of Trust
        1.2103 Representing Developer-Seller and Purchaser

1.22 IRS FORM 1099-S

1.23 TRUSTEES
        1.2301 Counsel to Only One Party Serving as Trustee
        1.2302 Attorney Loan Officer Serving as Trustee
        1.2303 Counsel to Multiple Parties Serving as Trustee
        1.2304 Disqualification of Trustee
        1.2305 Deed Preparation by Lay Trustee
        1.2306 Residential Foreclosure Services by Lay Trustee

1.24 DEFAULT
        1.2401 Purchase by Settlement Attorney upon Default by
        Purchaser
        1.2402 Representing One or More Parties in Dispute Arising
        Before or After Settlement
        1.2403 Specific Performance

1.25 UNAUTHORIZED PRACTICE OF LAW
        1.2501 In General
        1.2502 Matters Not Constituting Unauthorized Practice of
        Law
        1.2503 Out-of-State Settlement by Non-Virginia Lawyer
        1.2504 Delegation to Legal Assistants and Paralegals
        1.2505 Non-Lawyers
        1.2506 Non-Lawyer Settlement Services
        1.2507 Suspended or Disbarred Attorneys

1.26 ATTORNEYS AS SETTLEMENT AGENTS IN CONSUMER
TRANSACTIONS; VIRGINIA STATE BAR DISCIPLINARY
ACTIONS
        1.2601 Registration as Settlement Agent
        1.2602 Definition of Settlement Agent
        1.2603 Transactions to Which Chapter 10 Applies
        1.2604 Disclosure Requirements
        1.2605 Disciplinary Actions Against Attorney Settlement
        Agents
        1.2606 Examples of Disciplinary Actions Against Lawyers

APPENDIX 1-1: DISCLAIMING REPRESENTATION OF LENDER

APPENDIX 1-2: DISCLAIMING REPRESENTATION OF
BORROWER-PURCHASER AND SELLER

APPENDIX 1-3: DISCLAIMING REPRESENTATION OF SELLER

APPENDIX 1-4: MULTIPLE CLIENTS DISCLOSURE CONSENT
CONFIRMATION

APPENDIX 1-5: ELIMINATING OR LIMITING TITLE-SEARCH
DUTIES AND OPINION

APPENDIX 1-6: DISCLOSURE OF LAWYER’S PROPRIETARY
INTEREST IN TITLE COMPANY AND CLIENTS’ CONSENT

CHAPTER 2: RESIDENTIAL REAL ESTATE CONTRACTS

2.1 INTRODUCTION

2.2 PARTIES
        2.201 In General
        2.202 Status of Title
        2.203 Capacity

2.3 PROPERTY DESCRIPTION
        2.301 In General
        2.302 Appurtenances and Improvements
    
2.4 PERSONAL PROPERTY
        2.401 In General
        2.402 Schedule of Personal Property

2.5 CONSIDERATION
        2.501 In General
        2.502 Note and Deed of Trust
        2.503 Side Agreements
        2.504 Assumption Clauses
    
2.6 CONTRACT CONDITIONS
        2.601 Financing
        2.602 Sale of Purchaser’s Home
        2.603 Delivery Date of New Construction
        2.604 Zoning and Development Issues
        2.605 Mandatory Disclosures, Inspection Clauses, and New
        Home Warranties
        2.606 Conditions of Title
        2.607 Mechanics’ Liens
        2.608 Environmental Considerations
        2.609 Implied Conditions of Good Faith
        2.610 Option to Purchase

2.7 PRORATIONS

2.8 SETTLEMENT AND POSSESSION

2.9 RISK OF LOSS AND CONDITION OF PROPERTY

2.10 REAL ESTATE AGENT’S COMMISSION

2.11 ASSIGNMENT

2.12 REPRESENTATIONS AND WARRANTIES
        2.1201 Residential Property Disclosure Act
        2.1202 Seller’s Clauses
        2.1203 Implied Warranties on New Homes
        2.1204 Lead-Based Paint Disclosure
    
2.13 ARBITRATION

2.14 DEFAULT

2.15 MISCELLANEOUS PROVISIONS
        2.1501 Choice of Law and Forum Selection
        2.1502 Binding Effect
        2.1503 Entire Agreement; Modification
        2.1504 Execution
        2.1505 Acceptance
        2.1506 Material Breach, Time Is of the Essence, Specific
        Performance, and the Interstate Land Sale Act

2.16 SIGNATURES, NOTARIALS, AND RECORDATION OF
CONTRACT

2.17 SPECIAL CONSIDERATIONS FOR PURCHASERS
        2.1701 Right of First Refusal or Option to Purchase
        2.1702 Real Estate Agent’s Role
        2.1703 Virginia Property Owners’ Association Act
        2.1704 Virginia Condominium Act
        2.1705 Duties of Real Estate Brokers and Salespersons
        2.1706 Statutory Settlement Protection

APPENDIX 2-1: RESIDENTIAL CONTRACT OF PURCHASE—VBA
FORM

APPENDIX 2-2: RESIDENTIAL SALES CONTRACT—NVAR FORM

APPENDIX 2-3: PROMISSORY NOTE

APPENDIX 2-4: DEED OF TRUST

APPENDIX 2-5: TERMS OF PAYMENT

APPENDIX 2-6: CONSTRUCTION TERMS

APPENDIX 2-7: RESIDENTIAL PROPERTY DISCLOSURE
STATEMENT ACKNOWLEDGMENT BY SELLER AND
PURCHASER

APPENDIX 2-8: LEASE AGREEMENT

APPENDIX 2-9: LEASE AGREEMENT

APPENDIX 2-10: LEAD-BASED PAINT DISCLOSURE
FORM—LESSOR

APPENDIX 2-11: LEAD-BASED PAINT DISCLOSURE
FORM—SELLER

APPENDIX 2-12: RESIDENTIAL PROPERTY DISCLOSURE
STATEMENT REQUIRED NOTICE FOR BUYER TO
EXERCISE NECESSARY DUE DILIGENCE

APPENDIX 2-13: DISCLOSURE REGARDING VALIDITY OF
SEPTIC SYSTEM OPERATING PERMIT

APPENDIX 2-14: DISCLOSURE STATEMENT FOR PROPERTIES
LOCATED IN A LOCALITY IN WHICH A MILITARY AIR
INSTALLATION IS LOCATED

APPENDIX 2-15: DEFECTIVE DRYWALL DISCLOSURE
STATEMENT

APPENDIX 2-16: DISCLOSURE STATEMENT FOR RESIDENTIAL
PROPERTY PREVIOUSLY USED TO MANUFACTURE
METHAMPHETAMINE

APPENDIX 2-17: DISCLOSURE STATEMENT FOR PENDING
BUILDING CODE OR ZONING ORDINANCE VIOLATIONS

CHAPTER 3: COMMERCIAL REAL ESTATE CONTRACTS

3.1 IN GENERAL

3.2 THE CLOSING MEMORANDUM

3.3 OPTIONS TO PURCHASE

3.4 PREPARATION OF THE AGREEMENT
        3.401 Recitals
        3.402 Property Description
        3.403 Purchase Price and Allocation
        3.404 Financing
        3.405 Conditions Precedent
        3.406 Study Period
        3.407 Inspections
        3.408 Leases and Tenants
        3.409 Deposit
        3.410 Title
        3.411 Possession; Payment of Taxes and Expenses
        3.412 Delivery of Existing Information by the Seller
        3.413 Seller’s Warranties and Representations
        3.414 Condemnation
        3.415 Notices
        3.416 Closing
        3.417 Survival of Claims
        3.418 Risk of Loss
        3.419 Commissions
        3.420 Default and Remedies
        3.421 Entire Agreement and Merger
        3.422 Assignment
        3.423 Counterparts and Signatures
        3.424 Construction of Agreement

3.5 CONCLUSION

APPENDIX 3-1: CLOSING MEMORANDUM

APPENDIX 3-2: OPTION AND LAND PURCHASE AND SALE
AGREEMENT

APPENDIX 3-3: NOTICE OF EXERCISE OF OPTION

APPENDIX 3-4: BILL OF SALE

APPENDIX 3-5: ASSIGNMENT OF LICENSES, CONTRACTS,
PERMITS, OR OTHER INSTRUMENTS

APPENDIX 3-6: ASSIGNMENT OF RENTS AND LEASES

APPENDIX 3-7: TENANT ESTOPPEL CERTIFICATE

APPENDIX 3-8: ASSIGNMENT OF SERVICE, MAINTENANCE,
AND OTHER CONTRACTS

APPENDIX 3-9: FIRPTA AFFIDAVIT

APPENDIX 3-10: SELLER’S OFAC AFFIDAVIT

APPENDIX 3-11: PURCHASER’S OFAC AFFIDAVIT

APPENDIX 3-12: LAND PURCHASE AND SALE AGREEMENT

APPENDIX 3-13: BILL OF SALE

APPENDIX 3-14: ASSIGNMENT OF LICENSES, CONTRACTS,
PERMITS, OR OTHER INSTRUMENTS

APPENDIX 3-15: ASSIGNMENT OF RENTS AND LEASES

APPENDIX 3-16: TENANT ESTOPPEL CERTIFICATE

APPENDIX 3-17: ASSIGNMENT OF SERVICE, MAINTENANCE,
AND OTHER CONTRACTS

APPENDIX 3-18: FIRPTA AFFIDAVIT

APPENDIX 3-19: SELLER’S OFAC AFFIDAVIT

APPENDIX 3-20: PURCHASER’S OFAC AFFIDAVIT

CHAPTER 4: MECHANICS’ LIENS

4.1 IN GENERAL
        4.101 Statutory Creation
        4.102 Statutory Construction

4.2 WHO MAY CLAIM THE LIEN
        4.201 Identifying a Mechanic’s Lien Claimant
        4.202 Corporate Claimant
        4.203 Laborers and Suppliers
        4.204 Architects, Engineers, and Surveyors
        4.205 General Contractors and Subcontractors
        4.206 2019 Change Regarding Memorandum of Mechanic’s
        Lien and the Statutory Forms

4.3 PROPERTY SUBJECT TO THE LIEN
        4.301 In General
        4.302 Public Property
        4.303 Multiple Contracts, Lots, Units, or Buildings
        4.304 Utility and Paving Contractors
        4.305 Leased Property
        4.306 Condominiums
        4.307 Time-Share Property

4.4 PERFECTING THE LIEN
        4.401 The 90-Day Rule
        4.402 “Completed or Otherwise Terminated”
        4.403 Replacement Materials; Open Accounts
        4.404 Certification of Mailing
        4.405 Notices

4.5 MECHANICS’ LIEN AGENTS
        4.501 In General
        4.502 Designating the Mechanics’ Lien Agent
        4.503 Posting the Building Permit
        4.504 Sufficiency of the Building Permit
        4.505 Notice Requirements
        4.506 Evidence of Receipt
        4.507 Inaccurate Description of the Property
        4.508 Time Period for Notice
        4.509 Notice After the 30-Day Period
        4.510 Determining Whether a Proper Building Permit Has
        Been Issued
        4.511 Amendment of Building Permit
        4.512 Exceptions to the Requirement to Notify the
        Mechanics’ Lien Agent

4.6 AFFIDAVIT VERIFYING PAYMENT FOR LABOR AND
MATERIALS
        4.601 Purchaser to Be Provided Affidavit or Statement at
        Settlement
        4.602 Penalty for Failure to Provide

4.7 THE 150-DAY RULE
        4.701 Statutory Basis of Rule
        4.702 Cases Construing the Rule
    
4.8 STATUTORY FORMS FOR THE MEMORANDUM OF LIEN
        4.801 The Contractor’s Memorandum
        4.802 The Subcontractor’s Memorandum
        4.803 Statement Declaring Intention to Claim the Benefit of
        a Lien Required

4.9 DEFENSES
        4.901 Owner’s Priority
        4.902 Limitation on the Amount Claimed by Subcontractors
        and Sub-Subcontractors
        4.903 Licensure of Claimant

4.10 PERSONAL LIABILITY OF OWNER OR GENERAL
CONTRACTOR
        4.1001 Remedy Created by Section 43-11 of the Virginia Code
        4.1002 Creation of Personal Liability of Owner and General
        Contractor
        4.1003 Priority of the Section 43-11 Claim
        4.1004 Owner’s Right to Setoff for Work Not Completed by
        General Contractor
        4.1005 Limitations on Owner’s or General Contractor’s
        Liability

4.11 ENFORCEMENT OF THE LIEN
        4.1101 Complaint
        4.1102 Intervening Petition by Other Lienholders
        4.1103 Parties
        4.1104 When the Suit Must Be Brought
        4.1105 Automatic Stay in Bankruptcy
        4.1106 Scope of Jurisdiction
        4.1107 Sale of the Property
        4.1108 Challenging the Validity of Lien
        4.1109 Court-Ordered Release
        4.1110 Diverting Funds

4.12 PRIORITY OF LIENS
        4.1201 In General
        4.1202 Priority over Deeds of Trust
        4.1203 Priority over Security Interest in Accounts Receivable
        4.1204 Priority Among Mechanics’ Liens
        4.1205 Removal of Materials Affixed to the Structure
        4.1206 Federal Liens

4.13 ALTERNATIVES TO MECHANICS’ LIENS
        4.1301 Civil Suit
        4.1302 Statutory Alternatives
        4.1303 Threat of Filing
        4.1304 Contract Provisions

4.14 MISCELLANEOUS CONSIDERATIONS
        4.1401 Assignment
        4.1402 Waiver
        4.1403 Slander of Title
        4.1404 Forfeiture
        4.1405 Release or Discharge
        4.1406 Attorney Fees
    
4.15 PRACTICAL EFFECTS OF FILING A LIEN
        4.1501 Effect on the Owner
        4.1502 Effect on the Claimant’s Business
        4.1503 Effect on the General Contractor
        4.1504 Effect on the Construction Lender
        4.1505 Effect on the Title Agency

APPENDIX 4-1: MEMORANDUM FOR MECHANIC’S LIEN
CLAIMED BY GENERAL CONTRACTOR UNDER SECTION
43-4 OF THE VIRGINIA CODE

APPENDIX 4-2: MEMORANDUM FOR MECHANIC’S LIEN
CLAIMED BY SUBCONTRACTOR UNDER SECTION 43-7
OF THE VIRGINIA CODE

APPENDIX 4-3: MEMORANDUM FOR MECHANIC’S LIEN
CLAIMED BY SUB-SUBCONTRACTOR UNDER SECTION
43-9 OF THE VIRGINIA CODE

APPENDIX 4-4: COMPLAINT TO ASSERT CLAIM AGAINST BOND
ON STATE BUILDING OR PROJECT

APPENDIX 4-5: DISCLOSURE STATEMENT FOR SITE
DEVELOPMENT IMPROVEMENTS

APPENDIX 4-6: NOTICE TO MECHANICS’ LIEN AGENT
PURSUANT TO SECTION 43-4.01 OF THE VIRGINIA CODE

APPENDIX 4-7: OWNERS’ AFFIDAVIT AS TO MECHANICS’
LIENS AND POSSESSION (WITH “GAP” COVERAGE)

APPENDIX 4-8: COMPLAINT TO ENFORCE MECHANIC’S LIEN

APPENDIX 4-9: STATEMENT OF ACCOUNT

APPENDIX 4-10: PETITION TO BOND OFF LIEN UNDER
SECTION 43-71 OF THE VIRGINIA CODE

APPENDIX 4-11: BOND TO BOND OFF LIEN UNDER SECTION
43—71 OF THE VIRGINIA CODE

APPENDIX 4-12: DECREE TO BOND OFF LIEN UNDER SECTION
43-71 OF THE VIRGINIA CODE

APPENDIX 4-13: ATTORNEY CHECKLIST FOR MECHANIC’S
LIEN CASE

CHAPTER 5: TITLE EXAMINATIONS

5.1 INTRODUCTION

5.2 TYPE OF TITLE EVIDENCE REQUIRED

5.3 USE OF BACK TITLE INFORMATION

5.4 LENGTH OF SEARCH

5.5 PRIOR TITLE EVIDENCE

5.6 PRELIMINARY INFORMATION

5.7 INITIAL SOURCE OR “STARTER”

5.8 CREATING THE CHAIN OF TITLE
        5.801 Records to Be Examined
        5.802 Chain of Title
        5.803 Deeds
        5.804 Decedents’ Estates—Wills and Intestate Succession
        5.805 Chancery Suits
        5.806 Foreclosure Sales
        5.807 Tax Deeds

5.9 ADVERSING OWNERS IN THE CHAIN OF TITLE
        5.901 Grantor Index
        5.902 Judgments, Federal Liens, and Mechanics’ Liens
        5.903 Liens for Taxes and Special Assessments
        5.904 Financing Statements
        5.905 Certification Date
        5.906 Summary of Information
    
5.10 OBJECTIONS, EXCEPTIONS, AND DEFECTS IN TITLE
        5.1001 Deeds of Trust and Vendor’s Liens
        5.1002 Judgment Liens
        5.1003 Federal Tax Liens
        5.1004 Property Owners’ Association Liens
        5.1005 Financing Statements
        5.1006 Delinquent Real Estate Taxes and Special
        Assessments
        5.1007 Restrictions and Covenants
        5.1008 Condominiums
        5.1009 Easements
        5.1010 Surveys
        5.1011 Mechanics’ Liens
        5.1012 Decedents’ Estates
        5.1013 Subdivision Requirements
    
5.11 ZONING

5.12 PREPARING THE TITLE REPORT

5.13 INDEXING AND SAVING TITLE NOTES

5.14 REVIEWING THE TITLE INSURANCE COMMITMENT AND
DOCUMENTS

5.15 ABSTRACT OF TITLE
        5.1501 Definition and Essential Elements
        5.1502 As Used in Virginia
        5.1503 Form and Content
        5.1504 Hybrid or Special Purpose Abstracts
    
5.16 CERTIFICATE OF TITLE
        5.1601 In General
        5.1602 To Whom Certified
        5.1603 Effective Date and Time
        5.1604 Scope of the Examination
        5.1605 Names of Current Owners
        5.1606 Estate and Tenancy of Record Owners
        5.1607 Property Description
        5.1608 Exceptions or Other Matters Affecting Title
        5.1609 Matters Not of Record

5.17 ATTORNEY LIABILITY FOR AN INACCURATE TITLE
REPORT

APPENDIX 5-1: SAMPLE BACK TITLE LETTER

APPENDIX 5-2: COMMITMENT TO ISSUE A TITLE INSURANCE
POLICY

APPENDIX 5-3: NOTICE OF AVAILABILITY OF OWNER’S TITLE
INSURANCE FORM

APPENDIX 5-4: ABSTRACTING CHAIN INSTRUMENTS

APPENDIX 5-5: ALTERNATIVE FORMAT TO ABSTRACTING THE
ENTIRE CHAIN

APPENDIX 5-6: ADVERSES FOR A CHAIN OF TITLE

APPENDIX 5-7: SELLER/OWNER AFFIDAVIT—RESIDENTIAL

APPENDIX 5-8: SELLER/OWNER AFFIDAVIT—COMMERCIAL

APPENDIX 5-9: MECHANICS’ LIEN WAIVER FORMS

APPENDIX 5-10: INDEMNITY AND ESCROW AGREEMENT FOR
TESTATE ESTATES IN THE COMMONWEALTH OF
VIRGINIA

APPENDIX 5-11: INDEMNITY AND ESCROW AGREEMENT FOR
INTESTATE ESTATES IN THE COMMONWEALTH OF
VIRGINIA

APPENDIX 5-12: BOND FORM—TESTATE

APPENDIX 5-13: BOND FORM—INTESTATE

APPENDIX 5-14: CHECKLIST FOR A TITLE EXAMINATION

APPENDIX 5-15: AMERICAN LAND TITLE ASSOCIATION (ALTA)
APPLICATION FORM FOR RECORDED DOCUMENT
CERTIFICATE

APPENDIX 5-16: SAMPLE CERTIFICATE OF TITLE

APPENDIX 5-17: PRELIMINARY TITLE REPORT

APPENDIX 5-18: ATTORNEY’S FINAL CERTIFICATE

CHAPTER 6: TITLE INSURANCE

6.1 DEFINITION

6.2 THE AMERICAN LAND TITLE ASSOCIATION TITLE
POLICY
        6.201 In General
        6.202 Parts of the ALTA Policy Form

6.3 THE INSURING PROVISIONS
        6.301 In General
        6.302 The Owner’s Policy
        6.303 Covered Risks in the 2006 Owner’s Policy Form
        6.304 The Loan Policy
        6.305 Covered Risks in the 2006 Loan Policy Form
        6.306 Defense Costs

6.4 EXCLUSIONS FROM COVERAGE
        6.401 In General
        6.402 Laws, Ordinances, Regulations, and Governmental
        Police Powers
        6.403 Rights of Eminent Domain
        6.404 Matters Created, Suffered, Assumed, or Agreed to by
        the Insured
        6.405 Matters Not Known to the Insurer or Recorded in the
        Public Records at the Date of the Policy but Known to
        the Insured Claimant
        6.406 Other Exclusions
        6.407 Exclusions Appearing Only in Loan Policies

6.5 EXCLUSIONS IN THE 2006 POLICY FORMS

6.6 SCHEDULE A

6.7 SCHEDULE B
        6.701 In General
        6.702 Rights or Claims of Parties in Possession Not Shown
        by the Public Records
        6.703 Disclosure of Encroachments, Overlaps, Boundary
        Line Disputes, and any Other Matters
        6.704 Easements or Claims of Easements Not Shown by the
        Public Records
        6.705 Any Lien or Right to a Lien for Services, Labor, or
        Material Furnished, Imposed by Law, and Not Shown
        by the Public Records
        6.706 Taxes or Special Assessments that Are Not Shown as
        Existing Liens by the Public Records
        6.707 Other Exceptions
        6.708 Schedule B-2
        6.709 Short Form Policies

6.8 CONDITIONS AND STIPULATIONS
        6.801 In General
        6.802 Definitions
        6.803 Continuation of Coverage
        6.804 Notice of Claim
        6.805 Defense and Prosecution of Claims
        6.806 Proof of Loss or Damage
        6.807 Options to Pay or Settle
        6.808 Determination; Extent of Liability; Coinsurance
        6.809 Apportionment
        6.810 Limitation of Liability
        6.811 Liability Noncumulative
        6.812 Subrogation upon Payment or Settlement
        6.813 Arbitration
        6.814 Approved Attorneys

6.9 CONDITIONS IN THE 2006 POLICY FORMS

6.10 ENDORSEMENTS

APPENDIX 6-1: ALTA OWNER’S POLICY (1992)

APPENDIX 6-2: LOAN POLICY OF TITLE INSURANCE (1992)

APPENDIX 6-3: HOMEOWNER’S POLICY OF TITLE INSURANCE
FOR ONE- TO FOUR-FAMILY RESIDENCES (2013)

APPENDIX 6-4: ALTA SHORT FORM RESIDENTIAL LOAN
POLICY (2012)

APPENDIX 6-5: ALTA EXPANDED COVERAGE RESIDENTIAL
LOAN POLICY (2013)

APPENDIX 6-6: ALTA SHORT FORM EXPANDED COVERAGE
RESIDENTIAL LOAN POLICY

APPENDIX 6-7: POLICY OF TITLE INSURANCE—UNITED
STATES FORM (2012)

APPENDIX 6-8: ADVANTAGE EXPRESS RESIDENTIAL OWNER’S
POLICY

APPENDIX 6-9: ALTA OWNER’S POLICY OF TITLE INSURANCE
(2006)

APPENDIX 6-10: ALTA LOAN POLICY OF TITLE INSURANCE
(2006)

APPENDIX 6-11: CLOSING PROTECTION LETTER
COMMENTS TO APPENDICES 6-12 THROUGH 6-56

APPENDIX 6-12: ENDORSEMENT FORM

APPENDIX 6-13: ALTA 1-06—STREET ASSESSMENTS (6-17-2006)

APPENDIX 6-14: ALTA 2-06—TRUTH IN LENDING (6-17-2006)

APPENDIX 6-15: ALTA 3—ZONING SERIES

APPENDIX 6-16: ALTA 4-06—CONDOMINIUM

APPENDIX 6-17: ALTA 5-06—PLANNED UNIT DEVELOPMENT
(PUD)

APPENDIX 6-18: THE ALTA 6—VARIABLE RATE SERIES

APPENDIX 6-19: THE ALTA 7 MANUFACTURED HOUSING
SERIES

APPENDIX 6-20: ALTA 8—ENVIRONMENTAL PROTECTION
LIEN SERIES

APPENDIX 6-21: ALTA 9—RESTRICTIONS, ENCROACHMENTS,
AND MINERALS SERIES

APPENDIX 6-22: ALTA 10-06—ASSIGNMENT SERIES

APPENDIX 6-23: ALTA 11-06—MORTGAGE MODIFICATION
SERIES

APPENDIX 6-24: ALTA 12-06—AGGREGATION (OR “TIE IN”)

APPENDIX 6-25: ALTA 13—LEASEHOLD SERIES

APPENDIX 6-26: ALTA 14—FUTURE ADVANCE SERIES

APPENDIX 6-27: ALTA 15—NONIMPUTATION SERIES

APPENDIX 6-28: ALTA 16-06—MEZZANINE FINANCING (6-17-
2006)

APPENDIX 6-29: ALTA 17 ACCESS SERIES

APPENDIX 6-30: ALTA 18 TAX PARCEL SERIES

APPENDIX 6-31: ALTA 19 CONTIGUITY SERIES

APPENDIX 6-32: ALTA 20-06—FIRST LOSS—MULTIPLE PARCEL
TRANSACTION (10-13-2011)

APPENDIX 6-33: ALTA 21-06—CREDITORS’ RIGHTS—
WITHDRAWN IN 2010

APPENDIX 6-34: ALTA 22—LOCATION SERIES

APPENDIX 6-35: ALTA 23-06—COINSURANCE

APPENDIX 6-36: ALTA 24-06—DOING BUSINESS (10-16-2008)............. 867

APPENDIX 6-37: ALTA 25—SAME AS SURVEY SERIES

APPENDIX 6-38: ALTA 26-06—SUBDIVISION (10-16-2008)

APPENDIX 6-39: ALTA 27-06—USURY (10-16-2008)

APPENDIX 6-40: ALTA 28—EASEMENT SERIES

APPENDIX 6-41: ALTA 29—INTEREST RATE SWAP SERIES

APPENDIX 6-42: ALTA 30—SHARED APPRECIATION
MORTGAGE

APPENDIX 6-43: ALTA 31-06—SEVERABLE IMPROVEMENTS (2-
3-2011)

APPENDIX 6-44: ALTA 32-06; 32.1-06; 32.2-06; 33-06—
CONSTRUCTION

APPENDIX 6-45: ALTA 34-06—IDENTIFIED RISK COVERAGE (8-
1-2011)

APPENDIX 6-46: ALTA 35—MINERALS SERIES

APPENDIX 6-47: ALTA 36—ENERGY PROJECTS SERIES

APPENDIX 6-48: ALTA 37-06—ASSIGNMENT OF RENTS (12-3-
2012)

APPENDIX 6-49: ALTA 38-06—MORTGAGE TAX (12-3-2012)

APPENDIX 6-50: ALTA 39-06—POLICY AUTHENTICATION(4-2-
2013)

APPENDIX 6-51: ALTA 40—TAX CREDIT SERIES

APPENDIX 6-52: ALTA 41—WATER RIGHTS SERIES

APPENDIX 6-53: ALTA 42-06—COMMERCIAL LENDER GROUP
(12-2-2013)

APPENDIX 6-54: ALTA 43-06—ANTI-TAINT (12-2-2013)

APPENDIX 6-55: ALTA 44-06—INSURED MORTGAGE
RECORDING (12-2-2013)

APPENDIX 6-56: ALTA 45-06—PARI PASSU MORTGAGE—LOAN
POLICY (12-1-2014)

APPENDIX 6-57: ALTA 46-06—OPTION (8-1-15)
COMMENTS TO APPENDICES 6-58 THROUGH 6-64

APPENDIX 6-58: (REPLACED BY ALTA 17 AND 17.1)
ACCESS TO PUBLIC STREET

APPENDIX 6-59: EASEMENT—FORECLOSURE SALE
ENDORSEMENT

APPENDIX 6-60: AFFIRMATIVE MECHANICS’ LIEN COVERAGE
ENDORSEMENT—VIRGINIA FORM

APPENDIX 6-61: ARBITRATION

APPENDIX 6-62: LAST DOLLAR ENDORSEMENT

APPENDIX 6-63: “FAIRWAY” ENDORSEMENT

APPENDIX 6-64: ADDITIONAL INSURED

APPENDIX 6-65: TENANTS AS TENANTS ONLY

CHAPTER 7: SURVEY BASICS

7.1 WHAT IS A SURVEY?

7.2 BENEFITS TO GETTING A SURVEY

7.3 TITLE INSURANCE COVERAGE FOR SURVEY-RELATED
MATTERS
        7.301 ALTA Endorsements

7.4 MINIMUM SURVEY REQUIREMENTS

7.5 SURVEY FEATURES AND HOW TO REVIEW A SURVEY
        7.501 Title Block
        7.502 Legend for Symbols
        7.503 Vicinity Map
        7.504 Scale
        7.505 Property Description
        7.506 North Arrow
        7.507 Land Area
        7.508 Corner Monumentation
        7.509 Surveyor’s Certificate
        7.510 Surveyor’s Notes
        7.511 Adjacent Property and Adjoining Streets
        7.512 Survey Drawing
        7.513 Flood Plains, Water, and Wetlands
        7.514 Access
        7.515 Easements
        7.516 Title Exceptions
        7.517 Encroachments

7.6 CONCLUSION

APPENDIX 7-1: STANDARD ALTA HOMEOWNER’S POLICY

APPENDIX 7-2: ENHANCED ALTA HOMEOWNER’S POLICY

APPENDIX 7-3: STANDARD ALTA LOAN POLICY

APPENDIX 7-4: ENHANCED ALTA LOAN POLICY

APPENDIX 7-5: ALTA CONDOMINIUM ENDORSEMENTS 4.1-06
AND 4-06

APPENDIX 7-6: ALTA ENDORSEMENT 9-06

APPENDIX 7-7: ALTA ENDORSEMENTS 17.1-06, 17.2-06,
AND 17-06

APPENDIX 7-8: ALTA ENDORSEMENTS 19.1-06, 19.2-06,
AND 19-06

APPENDIX 7-9: ALTA ENDORSEMENTS 22.1-06 AND 22-06

APPENDIX 7-10: ALTA ENDORSEMENTS 25.1-06 AND 25-06

APPENDIX 7-11: ALTA ENDORSEMENT 34-06

APPENDIX 7-12: MINIMUM STANDARD DETAIL
REQUIREMENTS FOR ALTA/NSPS LAND TITLE
SURVEYS 2016

CHAPTER 8: FORMS OF HOLDING TITLE

8.1 INTRODUCTION

8.2 JOINT TENANCY
        8.201 In General
        8.202 Creation
        8.203 Characteristics
    
8.3 TENANCY BY THE ENTIRETY

8.4 TENANCY IN COMMON

8.5 TENANCY IN COPARCENARY

8.6 ACTS BARRING PROPERTY RIGHTS

8.7 THE AUGMENTED ESTATE

APPENDIX 8-1: METHODS OF HOLDING TITLE

CHAPTER 9: THE DEED

9.1 INTRODUCTION

9.2 HISTORICAL PERSPECTIVE

9.3 PARTIES TO THE DEED
        9.301 Types of Parties
        9.302 Married Grantors
        9.303 Contract Purchasers
        9.304 Third Parties
        9.305 Misnomer of a Grantee

9.4 THE PREMISES
        9.401 Names of the Parties
        9.402 Factual Recitals
        9.403 Recital of Consideration
    
9.5 GRANTING LANGUAGE

9.6 WARRANTIES
        9.601 Types of Deeds
        9.602 Extent of Warranty
        9.603 Language of Warranties
    
9.7 ENGLISH COVENANTS OF TITLE
        9.701 In General
        9.702 The Individual English Covenants
        9.703 How English Covenants Are Stated
        9.704 Grantor’s Liability to Grantee’s Assignees
        9.705 Damages for Breach

9.8 IMPLIED WARRANTIES ON NEW HOMES

9.9 CONVEYANCES TO JOINT OWNERS
        9.901 In General
        9.902 Joint Tenants
        9.903 Tenants by the Entirety
        9.904 Tenants in Common

9.10 SOLE AND SEPARATE EQUITABLE ESTATE

9.11 ESTATE GRANTED

9.12 PROPERTY DESCRIPTION
        9.1201 In General
        9.1202 Typical Property Description Forms
        9.1203 Derivation Clause
        9.1204 Correction Affidavit
    
9.13 LIMITATION LANGUAGE

9.14 EASEMENTS

9.15 DEED AND PLAT AS MUTUALLY DEPENDENT

9.16 WITNESS PROVISION

9.17 SIGNATURES AND SEALS

9.18 ACKNOWLEDGMENTS

9.19 GRANTEE’S ADDRESS

9.20 UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT
        9.2001 In General
        9.2002 Requirements for a Transfer on Death Deed
        9.2003 Revocation
        9.2004 Notice, Delivery, Acceptance, or Consideration Not
        Required
        9.2005 Effect of Deed During Transferor’s Life
        9.2006 Effect of Deed After Transferor’s Death
        9.2007 If Transferor Is a Joint Owner
        9.2008 No Covenant or Warranty of Title
        9.2009 Disclaimer
        9.2010 Liability for Creditor Claims and Statutory
        Allowances
        9.2011 Federal Electronic Signatures in Global and National
        Commerce Act

APPENDICES 9-1 THROUGH 9-4: GENERAL WARRANTY DEED
—VBA FORM

APPENDIX 9-5: GENERAL WARRANTY DEED FOR PROPERTY
IN THE NAME OF ONE SPOUSE—VBA FORM

APPENDIX 9-6: SPECIAL WARRANTY DEED—VBA FORM

APPENDIX 9-7: QUITCLAIM DEED—VBA FORM

APPENDICES 9-8 AND 9-9: DEED TO TRUSTEES UNDER A
VIRGINIA LAND TRUST—VBA FORM (SETTING OUT
TRUST USES AND PURPOSES)

APPENDIX 9-10: DEED OF SUBORDINATION—VBA FORM

APPENDICES 9-11 AND 9-12: DEED OF RELEASE AND PARTIAL
RELEASE—VBA FORM

APPENDIX 9-13: DEED WITHOUT WARRANTY

APPENDIX 9-14: DEED OF GIFT

APPENDIX 9-15: DEED FOR A CONDOMINIUM UNIT

APPENDIX 9-16: DEED OF ASSUMPTION

APPENDIX 9-17: EXAMPLES OF SIGNATURE BLOCKS

APPENDIX 9-18: CORRECTIVE AFFIDAVIT

APPENDIX 9-19: REVOCABLE TRANSFER ON DEATH DEED

APPENDIX 9-20: REVOCABLE TRANSFER ON DEATH DEED
TO TRUST

APPENDIX 9-21: REVOCATION OF TRANSFER ON DEATH DEED

CHAPTER 10: RESIDENTIAL FINANCING

10.1 INTRODUCTION
        10.101 Contract of Sale May Determine the Type of
        Financing
        10.102 The Loan Commitment and Loan Instructions
        Determine the Terms of the Loan

10.2 INSTITUTIONAL FINANCING
        10.201 Conventional Loans
        10.202 Federal Housing Administration (FHA) Loans
        10.203 Department of Veterans Affairs (VA) Loans
        10.204 Credit Line Deeds of Trust
        10.205 Private Mortgage Insurance
        10.206 The Secondary Mortgage Market
        10.207 Miscellaneous Statutory Provisions

10.3 ASSUMING VERSUS TAKING SUBJECT TO A DEED OF
TRUST
        10.301 In General
        10.302 Required Notice
        10.303 “Assuming” and “Taking Subject To” Distinguished
        10.304 Modification and Release
        10.305 Obligations of the Purchaser
        10.306 Assumption or Payoff Figures

10.4 PURCHASE MONEY FINANCING
        10.401 In General
        10.402 Lien Priority
        10.403 As a Subordinate Deed of Trust

10.5 INSTALLMENT SALES CONTRACTS
        10.501 In General
        10.502 Pitfalls
        10.503 Virginia Legislation

10.6 GROUND RENT
        10.601 In General
        10.602 Rights of the Parties
    
10.7 SECURITY AGREEMENTS AND FINANCING
STATEMENTS

10.8 USURY
        10.801 Interest Versus Usury
        10.802 Prepayment Penalties and Allowable Interest Rates
        on First Deed of Trust Loans
        10.803 Allowable Interest Rates on Residential Subordinate
        Loans
        10.804 Allowable Interest Rates Imposed or Collected by
        Sellers
        10.805 Borrowers Who May Not Plead Usury
        10.806 Penalties

10.9 ALTERNATIVE FORMS OF FINANCING
        10.901 In General
        10.902 Renegotiable Rate Mortgage (RRM)
        10.903 Reverse Annuity Mortgage (RAM)
        10.904 Graduated Payment Mortgage (GPM)
        10.905 Shared Appreciation Mortgage (SAM)
        10.906 Asset Integrated Mortgage (AIM)
        10.907 Growing Equity Mortgage (Rapid Payoff Mortgage)
        10.908 Level Payment Mortgage
        10.909 Fixed Schedule Mortgage

CHAPTER 11: COMMERCIAL LOAN DOCUMENTATION

11.1 INTRODUCTION
        11.101 In General
        11.102 Scope of Chapter
        11.103 Related Documents

11.2 COMMITMENT LETTERS
        11.201 In General
        11.202 Parties
        11.203 Loan Amount
        11.204 Purpose of the Loan; Sums to Be Withheld
        11.205 Collateral
        11.206 Term
        11.207 Interest
        11.208 Loan Commitment Fee
        11.209 Repayment
        11.210 Prepayment
        11.211 Late Charges
        11.212 Guaranties
        11.213 Equity
        11.214 Conditions to Closing
        11.215 Permanent Take-Out Loan
        11.216 Loan Conversion
        11.217 Assignment
        11.218 Deadline for Acceptance of the Commitment
        11.219 Expiration of the Commitment
        11.220 Termination of the Commitment
        11.221 Special Provisions

11.3 PROMISSORY NOTES
        11.301 In General
        11.302 Interest Rate, Negotiability, and Enforceability
        11.303 Repayment Terms
        11.304 Application of Payments
        11.305 Prepayment
        11.306 Late Charges
        11.307 Events of Default
        11.308 Default Interest Rate
        11.309 Limitations of Liability and Recourse
        11.310 Usury Savings Clause
        11.311 Confession of Judgment
        11.312 Waiver of Jury Trial
        11.313 Governing Law and Venue
        11.314 Seal

11.4 CREDIT ENHANCEMENTS

11.5 LOAN AGREEMENTS

11.6 DEEDS OF TRUST

11.7 ENVIRONMENTAL INDEMNITY AGREEMENTS

11.8 LENDERS’ TITLE INSURANCE COMMITMENTS
        11.801 In General
        11.802 Schedule A
        11.803 Schedule B, Section I
        11.804 Schedule B, Section II
        11.805 Uniform Commercial Code; Tax Liens; Litigation
        Searches

11.9 RELEASE DOCUMENTS
        11.901 In General
        11.902 Conventional Release
        11.903 Electronic Release

11.10 SECURITY AGREEMENTS AND FINANCING
STATEMENTS
        11.1001 Introduction
        11.1002 The Concept of Fixtures in Article 9
        11.1003 Definitions
        11.1004 Requirements for Attachment by a Security
        Agreement
        11.1005 Perfection by Filing a Financing Statement
        11.1006 Requirements for Filing a Financing Statement
        11.1007 Where to File the Financing Statement
        11.1008 When to File the Financing Statement

11.11 ASSIGNMENTS OF LEASES, RENTS, AND PROFITS

11.12 ASSIGNMENT OF ARCHITECTS’ AND CONTRACTORS’
CONTRACTS TO THE LENDER

11.13 BUILDER’S RISK AND OTHER TYPES OF INSURANCE
REQUIRED BY THE LENDER

11.14 CERTIFICATES OF GOOD STANDING; OTHER EVIDENCE
OF ENTITY EXISTENCE AND AUTHORITY; BORROWING
RESOLUTIONS

11.15 TENANTS’ ESTOPPEL AGREEMENTS

11.16 SUBORDINATION, ATTORNMENT, AND NONDISTURBANCE
AGREEMENTS

11.17 ATTORNEY OPINION LETTERS

11.18 PERFORMANCE AND PAYMENT BONDS; AIA
DOCUMENTATION

11.19 CHECKLIST OF FINAL DOCUMENTATION

APPENDIX 11-1: CLOSING REQUIREMENTS AND CHECKLIST

CHAPTER 12: RESIDENTIAL CLOSINGS

12.1 INTRODUCTION

12.2 LEGISLATION AFFECTING CLOSINGS
        12.201 Virginia Statutes
        12.202 Federal Statutes and Regulations

12.3 THE TRANSACTION
        12.301 Representation Issues
        12.302 Contract Review
        12.303 Loan Commitment Review
        12.304 Coordination of Closing Requirements
        12.305 Necessary Documents and Data
        12.306 Document Preparation
        12.307 The Settlement Conference
    
12.4 POST-CLOSING MATTERS

APPENDIX 12-1: SETTLEMENT STATEMENT—HUD-1

APPENDIX 12-2: PURCHASER’S REPRESENTATION

APPENDIX 12-3: SELLER’S REPRESENTATION

APPENDIX 12-4: AFFIDAVIT THAT TRANSFEROR IS NOT A
FOREIGN NONINDIVIDUAL FOR PURPOSE OF
WITHHOLDING OF TAX

APPENDIX 12-5: AFFIDAVIT THAT TRANSFEROR IS NOT A
FOREIGN INDIVIDUAL FOR PURPOSE OF WITHHOLDING
OF TAX

APPENDIX 12-6: FORMS R-5 AND R-5P

APPENDIX 12-7: FORM R-5E

APPENDIX 12-8: CERTIFICATE OF RESIDENCY

APPENDIX 12-9: SPECIAL POWER OF ATTORNEY FORM

APPENDIX 12-10: CERTIFICATE OF SATISFACTION

APPENDIX 12-11: SAMPLE IRS FORM 1099-S

APPENDIX 12-12: SUBSTITUTE IRS FORM 1099-S

APPENDIX 12-13: INFORMATION FOR REAL ESTATE 1099-S
REPORT FILING

APPENDIX 12-14: VIRGINIA NONFOREIGN AFFIDAVIT FOR
1099-S

APPENDIX 12-15: IRS FORM 1099-S CERTIFICATION
EXEMPTION FORM

APPENDIX 12-16: CYBERCRIME AND REAL ESTATE
SETTLEMENTS

CHAPTER 13: THE UNIFORM COMMERCIAL CODE

13.1 INTRODUCTION
        13.101 In General
        13.102 Applicable UCC Provisions
    
13.2 COMMERCIAL REAL ESTATE TRANSACTIONS TO WHICH
THE UCC APPLIES
        13.201 Sales Transactions: Things Attached to Realty
        13.202 Lease Transactions: Fixtures
        13.203 Financing Transactions

13.3 COMPLIANCE
        13.301 Sales Transactions
        13.302 Lease Transactions
        13.303 Financing Transactions

APPENDIX 13-1: U.C.C. FINANCING STATEMENT

CHAPTER 14: OPINION LETTERS IN REAL ESTATE
FINANCE TRANSACTIONS


14.1 HISTORICAL BACKGROUND
        14.101 Dawn of Opinion Literature
        14.102 An Easier Path: The TriBar Opinion Committee
        14.103 The ABA Accord
        14.104 The Second Generation of Opinion Letter Literature

14.2 REAL ESTATE OPINION REPORTS
        14.201 Real Estate Opinion Letters
        14.202 Real Estate Finance Opinion Report of 2012
        14.203 Local Counsel Report of 2016
        14.204 Report on UCC Opinions in Real Estate Finance
        Transactions

14.3 VIRGINIA BAR ASSOCIATION REPORT ON OPINION
LETTERS

14.4 STANDARD OF CARE APPLIED TO THIRD-PARTY
OPINION LETTERS
        14.401 Exercise of “Professional Judgment”
        14.402 Customary Practice
        14.403 Customary Diligence
        14.404 Misleading
        14.405 To Whom Duty Is Owed
        14.406 Scope of Duty

14.5 CAUSES OF ACTION FOR BREACH OF STANDARD OF
CARE
        14.501 Malpractice
        14.502 Negligent Misrepresentation
        14.503 Fraudulent Misrepresentation
        14.504 Breach of Contract
        14.505 Violation of Statutes

14.6 ETHICAL RULES APPLICABLE TO THIRD-PARTY
OPINION PRACTICE
        14.601 Opinions Subject to Ethical Rules
        14.602 Client Confidentiality
        14.603 Evidence of Breach of Duty

14.7 LAW FIRM POLICIES AND PROCEDURES
        14.701 Opinion Committees
        14.702 Other Policies and Procedures for Issuing Opinion
        Letters

14.8 ILLUSTRATIVE OPINIONS IN COMMERCIAL REAL
ESTATE LOAN TRANSACTIONS
        14.801 Introductory Paragraph
        14.802 Reviewed Documents
        14.803 Assumptions
        14.804 Opinions
        14.805 Exclusions
        14.806 Qualifications
        14.807 Reliance

APPENDIX 14-1: BIBLIOGRAPHY

APPENDIX 14-2: SELECTED CASES ON OPINION LETTERS

APPENDIX 14-3: FORM OF REAL ESTATE OPINION LETTER

APPENDIX 14-4: STATUTORY REQUIREMENTS FOR DEEDS OF
TRUST

APPENDIX 14-5: STATEMENT OF OPINION PRACTICES

CHAPTER 15: LIKE-KIND EXCHANGES UNDER I.R.C. § 1031

15.1 INTRODUCTION AND HISTORY

15.2 THE TAX-DEFERRED EXCHANGE
        15.201 A Simple Exchange
        15.202 An Exchange with Boot

15.3 REQUIREMENTS FOR A LIKE-KIND EXCHANGE
        15.301 Qualified Property
        15.302 The Holding Requirement
        15.303 The Like-Kind Requirement
        15.304 The Holding Period
        15.305 The Exchange Requirement
        15.306 Time Limits/Deadlines for Deferred Exchanges
        15.307 Adequate Identification of Replacement Property
        15.308 Reverse and Improvement Exchanges
        15.309 1031 Exchange “Programs”

15.4 1031 EXCHANGES IN A NUTSHELL

CHAPTER 16: PLANNING AND ZONING

16.1 INTRODUCTION
        16.101 Purpose of Chapter
        16.102 Role of Courts
    
16.2 ENABLING LEGISLATION
        16.201 General Nature of Zoning
        16.202 Purposes of Zoning
        16.203 Constitutional Limitations
        16.204 Limitations on Local Authority
        16.205 Legislative and Nondelegable Nature of Zoning

16.3 CONDITIONAL ZONING
        16.301 In General
        16.302 Proffers
        16.303 Types of Conditional Zoning
        16.304 Strengths and Weaknesses of Conditional Zoning
        16.305 Amendments to Approved Conditional Rezonings

16.4 IMPACT FEES
        16.401 In General
        16.402 Requirements
        16.403 Tidewater Ass’n of Homebuilders, Inc. v. City of
        Virginia Beach
        16.404 2007 Amendments to Section 15.2-2317 et seq
    
16.5 HISTORIC DISTRICTS

16.6 COMPREHENSIVE PLANNING
        16.601 In General
        16.602 Nature of the Plan and Its Implementation
        16.603 Urban Development Areas
        16.604 Limitations on the Usefulness of the Plan
        16.605 Section 15.2-2232 Review

16.7 UPZONINGS
        16.701 In General
        16.702 Presumption of Validity
        16.703 Judicial Treatment of Upzoning Denials
        16.704 “Spot Zoning”
        16.705 Board of Supervisors v. Lerner
        16.706 Board of Supervisors v. Jackson and Board of
        Supervisors v. International Funeral Services, Inc.
        16.707 Demurrer of Claim That Rezoning Decision Was
        Arbitrary, Capricious, or Unreasonable
        16.708 Remand to Governing Body

16.8 DOWNZONINGS
        16.801 In General
        16.802 Piecemeal Versus Comprehensive Downzoning
        16.803 Sustaining Piecemeal Downzoning
        16.804 Downzoning Legislation
    
16.9 SPECIAL USE PERMITS
        16.901 Nature of Special Use Permit
        16.902 Standards for Issuing Special Use Permit
        16.903 Conditions on Grant of Special Use Permit
        16.904 Standard of Review on Appeal
        16.905 Limitation on Requirement of Special Use Permits

16.10 SITE PLANS

16.11 PROCEDURAL ISSUES
        16.1101 In General
        16.1102 Notice by Applicant; Applicant Who Is Not Owner
        of Subject Property
        16.1103 Notice for Additional Matters
        16.1104 Notice of Imposition of Fees and Levies
        16.1105 Requirement to Pay Past-Due Taxes
        16.1106 Procedural Due Process Requirements
        16.1107 Mandatory Nature of Hearings; Controlling Nature
        of the Enabling Legislation
        16.1108 Sufficiency of Resolution by Which Zoning Ordinance
        Amendment Is Initiated
        16.1109 Form and Codification of Ordinances
        16.1110 Importance of Procedural Correctness
        16.1111 Limitations of Actions
        16.1112 Exhaustion of Remedies
        16.1113 Necessary Parties
        16.1114 Standing
        16.1115 Federal Land Use Proceedings

16.12 VARIANCES
        16.1201 In General
        16.1202 Unreasonable Restriction of Use

16.13 NONCONFORMING USES
        16.1301 In General
        16.1302 Expansion or Alteration of Use
        16.1303 Termination of Use

16.14 VESTED RIGHTS
        16.1401 In General
        16.1402 Continuum of Vested Rights
        16.1403 Nature of Vested Rights
        16.1404 Statutory Vesting Generally
        16.1405 Statutory Vesting of Subdivision and Site Plans
        16.1406 Forfeiture of Vested Rights
        16.1407 Who Makes Vested Rights Determinations
        16.1408 Void Permits
        16.1409 Vesting and Grandfathering Distinguished

16.15 ADMINISTRATION AND ENFORCEMENT
        16.1501 The Zoning Administrator
        16.1502 Zoning District Boundary Disputes
        16.1503 Variances
        16.1504 Finality of Zoning Administrator’s Determinations
        16.1505 Limitations on Zoning Administrator’s Authority
        16.1506 Appeal of Zoning Administrator’s Determinations
        Generally
        16.1507 Appeal of Zoning Administrator’s Rulings on Proffers
        16.1508 Criminal and Civil Penalties
        16.1509 Challenges to Building Permits

16.16 REGULATORY TAKINGS
        16.1601 In General
        16.1602 When the Taking Occurs
        16.1603 Ripeness
        16.1604 Forum for Regulatory Taking Case
        16.1605 Temporary Taking Versus Normal Administrative
        Delay
        16.1606 Damages
        16.1607 Exactions by Special Use Permits, Site Plans,
        Subdivisions, Impact Fees, and Proffers
        16.1608 Virginia Regulatory Takings Cases
    
CHAPTER 17: REAL ESTATE BROKERAGE LAW

17.1 INTRODUCTION

17.2 DEFINITIONS AND LICENSING REQUIREMENTS
        17.201 Statutory Definitions
        17.202 Marketplace Definitions
        17.203 Licensing Requirements

17.3 THE REAL ESTATE BOARD
        17.301 Structure
        17.302 Powers and Duties of the Board
        17.303 The Real Estate Transaction Recovery Act

17.4 DUTIES OF BROKERS AND SALESPERSONS
        17.401 Relationship with the Principal (Client)
        17.402 Relationship with Nonclient Parties
        17.403 Duties to All Parties, Whether Principal or
        Non-Principal
        17.404 Designated Agency
        17.405 Other Important Standards of Conduct
        17.406 Consequences for Breaching Duties

17.5 HOW BROKERS ARE ENGAGED
        17.501 General Rules
        17.502 “General” and “Special” Brokerage Contracts
        17.503 Express Contracts
        17.504 Implied-In-Fact Contracts
        17.505 “Procuring Cause”—What Is It and When Is It
        Required?
        17.506 Implied-In-Law or Quasi-Contract (Unjust
        Enrichment)
        17.507 Liability of Subsequent Grantees for Payment of
        Original Grantor’s Brokerage Obligations

17.6 COMMERCIAL REAL ESTATE BROKER’S LIEN ACT
        17.601 Lien Applies Only to “Commercial Real Estate”
        17.602 Lien Applies Only to Leasing Activity
        17.603 Lien Requires a Writing Signed by Owner
        17.604 Services Rendered Must “Result in the Procuring of
        a Tenant”
        17.605 Purchaser’s Liability for Brokerage Fees
        17.606 Amount of Lien
        17.607 What Is Being Liened
        17.608 Procedure and Effect
        17.609 Contents of Memorandum of Lien
        17.610 Recommended Procedure for Enforcing Lien Claims
    
CHAPTER 18: CONDOMINIUMS AND PROPERTY
OWNERS’ ASSOCIATIONS


18.1 INTRODUCTION TO CONDOMINIUMS
        18.101 In General
        18.102 Subdivision
        18.103 Cost-Sharing and Enforcement Mechanisms
        18.104 Architectural Control
        18.105 Parking Flexibility
    
18.2 INTRODUCTION TO PROPERTY OWNERS’ ASSOCIATIONS

18.3 TYPES OF CONDOMINIUMS AND PROPERTY OWNERS’
ASSOCIATIONS
        18.301 Land Condominiums
        18.302 Flex-Industrial Condominiums
        18.303 Office Condominiums
        18.304 Mixed-Use Condominiums
        18.305 Residential Property Owners’ Associations
        18.306 Commercial Property Owners’ Associations

18.4 ALLOCATIONS IN CONDOMINIUMS

18.5 CONDOMINIUM INSTRUMENTS
        18.501 In General
        18.502 The Declaration
        18.503 The Bylaws
        18.504 Maintenance Responsibilities Chart
        18.505 Plats and Plans
        18.506 Amendments

18.6 GOVERNANCE OF ASSOCIATIONS
        18.601 Board of Directors
        18.602 Officers
        18.603 Committees
        18.604 Management
    
18.7 MAINTENANCE RESPONSIBILITIES OF ASSOCIATION
AND OWNERS
        18.701 Condominiums
        18.702 Property Owners’ Associations

18.8 RESTRICTIONS ON USE IN PROPERTY OWNERS’
ASSOCIATIONS
        18.801 Restrictive Covenants
        18.802 Typical Use Restrictions

18.9 MEETINGS
        18.901 In General
        18.902 Association Meetings
        18.903 Board Meetings
        18.904 Electronic Communication
    
18.10 CONTRACT PROVISIONS CONCERNING LOTS IN
PROPERTY OWNERS’ ASSOCIATIONS
        18.1001 Virginia Property Owners’ Association Act Disclosure
        Statement and Disclosure Packet
        18.1002 Supplemental Information
        18.1003 Rights of First Refusal
        18.1004 Architectural Review and Design Guidelines
        18.1005 Title Disclosure
        18.1006 Districts, Villages, Neighborhoods, and Voting Groups
        18.1007 Assessments and Prorations
        18.1008 Special Assessments
        18.1009 Working Capital Contributions
        18.1010 Board and Association Meeting Minutes and Records
        18.1011 Compliance and Notices from the Association
        18.1012 Notice to Association of Transfer of Title
        18.1013 Construction Deposits
        18.1014 Due Diligence Period
        18.1015 Common Area Warranties
    
18.11 CONTRACT PROVISIONS CONCERNING CONDOMINIUM
UNITS
        18.1101 Initial Sale of Residential Units
        18.1102 Resale of Units
        18.1103 Notice to Association of Transfer of Title
        18.1104 Rights of First Refusal
        18.1105 Architectural Review and Design Guidelines
        18.1106 Title Disclosure
        18.1107 Due Diligence Period
        18.1108 Deposits
        18.1109 Assessments and Prorations
        18.1110 Special Assessments
        18.1111 Working Capital Contributions
        18.1112 Executive Board and Association Meeting Minutes
        and Records
        18.1113 Compliance and Notices from the Association
        18.1114 Construction Deposits
        18.1115 Warranties

18.12 DUE DILIGENCE CHECKLIST AFTER CONTRACT IS
SIGNED
        18.1201 Review of Association Documents
        18.1202 Insurance Policies
        18.1203 Maintenance Responsibilities of Association and
        Owner
        18.1204 Quality of Management
        18.1205 Status of Warranty Claims in Condominiums
        18.1206 Voting Rights
        18.1207 Financial Matters
        18.1208 Parking; Pets
        18.1209 Review of Title Report or Title Binder
        18.1210 Occupancy Limits
        18.1211 Age Restrictions
        18.1212 Master Associations
        18.1213 Architectural Violations
        18.1214 Review of Resale Disclosure Packet
        18.1215 Leasing Restrictions and Rules

18.13 CONCLUSION

APPENDIX 18-1: HOMEOWNERS’ ASSOCIATION RESALE
DISCLOSURE PACKET AND NOTICE

APPENDIX 18-2: PROPERTY OWNERS’ ASSOCIATION RESALE
DISCLOSURE PACKAGE NOTICE

APPENDIX 18-3: RELEASE OF ARCHITECTURAL APPROVAL
AUTHORITIES FROM LIABILITY

APPENDIX 18-4: HOMEOWNERS ASSOCIATION RESALE
CERTIFICATE

CHAPTER 19: FOREIGN OWNERS OF REAL ESTATE
IN VIRGINIA


19.1 INTRODUCTION

19.2 FEDERAL REPORTING REQUIREMENTS
        19.201 International Investment and Trade in Services
        Survey Act
        19.202 Agricultural Foreign Investment Disclosure Act
        19.203 USA PATRIOT Act

19.3 FEDERAL TAX CONSIDERATIONS
        19.301 Income Tax
        19.302 Estate Tax
        19.303 Gift Tax

19.4 VIRGINIA REQUIREMENTS
        19.401 Registration
        19.402 Nonresident Individuals, Trusts, and Estates
        19.403 C Corporations
        19.404 Pass-Through Entities (Partnerships, LLCs,
        S Corporations)

TABLE OF AUTHORITIES

INDEX


Authors

Editors

Neil S. Kessler, Troutman Sanders LLP / Richmond (Expand/Collapse Bio)

Neil S. Kessler, co-editor of the 2008, 2012, 2015, and 2019 editions of this book, is a partner in the Richmond office of Troutman Sanders LLP. He has represented clients in various types of commercial real estate transactions for more than 40 years, with an emphasis in property and casualty insurance, financing, leasing, development, and construction. Mr. Kessler is a former co-chair of the Committee on Design and Construction Contracts and the Property, Casualty and Other Non-Title Insurance Committee of the Section of Real Property, Probate and Trust Law of the American Bar Association. He is the author of the Virginia law section of the ABA publication entitled A State-By-State Guide to Construction and Design Law and a chapter on insurance for a publication of the International Council of Shopping Centers. Mr. Kessler is a past Chair of the Real Estate Section of the Virginia State Bar and is currently a member of its Board of Governors. He is a former member of the Board of Governors and is a current member of the Insurance Committee of the American College of Real Estate Lawyers. He is also a member of the Program Committee of the International Council of Shopping Centers Law Conference. Mr. Kessler has been elected as a member of the Virginia Commonwealth University Real Estate Circle of Excellence and as a Fellow of the Virginia Bar Foundation and the American Bar Foundation. He serves as a member of the Law School Professionalism Program faculty sponsored by the Virginia State Bar’s Standing Committee on Profes-sionalism and the Section on the Education of Lawyers. Mr. Kessler has been recognized as a Leader of the Law by Virginia Lawyers Weekly as one of the Best Lawyers in America and in the International Who’s Who in Real Estate Law. He received his undergraduate degree with honors from Washington & Lee University and his law degree with honors from The George Washington University. He is a frequent continuing legal education lecturer.

Paul H. Melnick, Pesner Altmiller Melnick & DeMers PLC / Tysons Corner (Expand/Collapse Bio)

Paul H. Melnick, co-editor of this book and author of Chapters 8 and 9, is a principal of Pesner Altmiller Melnick & DeMers PLC, where he focuses his practice in the areas of real estate, estate planning, and estate/trust administration. Mr. Melnick earned a B.S. from James Madison University and a J.D. summa cum laude from the University of Dayton School of Law. He has been a member of the Virginia State Bar since 1990 and a member of its Real Property Section since 2005. He currently serves as an Area Representative of the Real Property Section, and has served as a member of the Board of Governors, an Area Representative, the Secretary-Treasurer, the Vice-Chair, and the Chair of the Section. He currently serves on the Arlington County Board of Zoning Appeals and is a frequent continuing legal education presenter and author.

Authors

Jon W. Brodegard, Old Republic Title Company / Manassas/Hampton Roads (Expand/Collapse Bio)

Jon W. Brodegard, co-author of Chapter 12, is counsel for Old Republic Title Company. He received his J.D. from the George Mason University School of Law, now George Mason University Antonin Scalia Law School, and a B.A. from Brigham Young University. Following graduation from law school, he completed a judicial clerkship in the Office of Hearings and Appeals for the U.S. Department of Housing and Urban Development. Subsequently, Mr. Brodegard has focused on real estate and title insurance matters, first in Northern Virginia, Maryland, and the District of Columbia. and then in the Hampton Roads area. He has been admitted to practice law in Virginia and Maryland, and is licensed as a title agent in Virginia, Maryland, and the District of Columbia.

Kay M. Creasman, Old Republic Title Company / Chesterfield (Expand/Collapse Bio)

Kay Creasman, co-author of Chapter 12, Virginia Counsel and Assistant Vice President for Old Republic Title Company, has been with Old Republic since March 2008 solving problems with practical solutions for title and settlement agents throughout Virginia.

Ms. Creasman received a J.D. from the University of Richmond, an M.Ed. from Tulane University, and a B.S. from Athens College. Since 1976 when she moved to Virginia, she has, at various times, maintained a private law practice in the Richmond area focusing on real estate, small business matters, and wills; owned and operated a high-volume title insurance and non-attorney settlement agency; been employed by national underwriters as counsel in Virginia and West Virginia; searched title in the record rooms; and taught both undergraduate and graduate students in the business schools at Virginia Commonwealth University and the University of Richmond. Ms. Creasman is a frequent speaker for Virginia CLE, Virginia Land Title Association, Old Republic National Title Insurance Company, and others on real estate and title insurance matters.

Ms. Creasman has been active as an Area Representative for the Real Property Section of the Virginia State Bar since 2010 and involved with multiple committees. She has been on the Board of Governors since 2013, and was Chair of the Board of Governors (2018-2019). She is a member of the Board of Governors of the Real Estate Section of the Virginia Bar Association.

Ms. Creasman was the recipient of the 2017 Traver Scholar Award presented by the Real Property Section of the Virginia State Bar and Virginia Continuing Legal Education to honor men and women who embody the highest ideals and expertise in the practice of real estate law. Traver Scholars are Real Property Section members who have made significant contributions to the practice of real property law generally and the Section specifically, and have generously shared their knowledge with others.

Ms. Creasman is an active member and a past president (2003-2004) of the Virginia Land Title Association (VLTA), and the 2010 recipient of the VLTA Distinguished Service Award, which honors individual members of VLRA who have made significant contributions to, and an impact on, the success of the Association. Within VLTA she focuses on legislative matters affecting real estate in Virginia and continuing education of title and settlement agents.

Douglass W. Dewing, Douglass W. Dewing Title Examination, LC / Richmond (Expand/Collapse Bio)

Douglass W. Dewing, author of Chapters 5 and 6, retired as Commercial Underwriting Counsel for the Virginia National Commercial Services office, operating under the umbrella of the Fidelity National Title Group as an underwriting office for Chicago Title, Commonwealth Land Title and Fidelity Title. After earning an undergraduate degree from Washington and Lee University and a law degree from the Washington University School of Law in St. Louis, Mr. Dewing entered private practice in 1982. He entered the title insurance industry in 1987. He has authored A Virginia Title Examiner’s Manual (4th ed. 2017) and articles on many topics involving title to real property. Mr. Dewing has been a member of several continuing education panels on real estate title and title insurance topics for various groups including Virginia CLE. He is a former Chair of the Real Property Section of the Virginia State Bar. Mr. Dewing is also a member of the American Bar Association. In retirement, he consults as a free-lance title examiner.

John A. Dezio / Charlottesville (Expand/Collapse Bio)

John A. Dezio, author of Chapter 10, received his undergraduate and law degrees from the University of Virginia. He is a former Commonwealth's Attorney for the County of Albemarle and Assistant Commonwealth's Attorney for the City of Charlottesville. He has served on the Mid-year Seminar Committee, the Seventh District Committee, the Fee Dispute Committee for the Sixteenth Circuit, and the Committee of Lawyer Discipline (COLD), ex officio. He has been a member of the Virginia State Bar Disciplinary Committee and has served as its Chairman.

Laura M. Farley, Virginia REALTORS® / Glen Allen (Expand/Collapse Bio)

Laura M. Farley, author of Chapter 17, is the general counsel for Virginia REALTORS®, the statewide trade association representing nearly 35,000 real estate licensees. Ms. Farley attended University of Maryland, College Park, where she earned a degree in Government & Politics. She earned her J.D. from George Mason University School of Law with a Regulatory Law Certificate. She then began her career in-house at the Northern Virginia Association of REALTORS®, a regional trade associate representing nearly 13,000 real estate licensees in the Northern Virginia area. While at NVAR, Ms. Farley taught legal classes, provided legal information to membership via a legal hotline, and served as staff liaison to the committee responsible for drafting standard forms. In 2014, Ms. Farley joined Virginia REALTORS®, where she continues teaching, assisting on a legal hotline, and working with a standard forms committee at the state level.

John W. Farrell, McCandlish Lillard, P.C. / Fairfax (Expand/Collapse Bio)

John W. Farrell, primary author of Chapter 16, is a principal in the law firm of McCandlish Lillard, P.C. with over 45 years of experience before county supervisors, planning commissions, and boards of zoning appeals in matters of real estate development, land use, and environmental regulation, including rezoning, site plan and wetlands approvals. He has represented landowners and developers in innumerable land use and environmental cases and controversies including comprehensive planning, infrastructure financing and bonding and microbial, asbestos and lead contamination issues. Among those represented is the applicant in the largest rezoning ever filed in Northern Virginia which included 26 million square feet of nonresidential space and 2,266 dwelling units. He also represented two dozen plaintiff/landowners in both the Fairfax County C&I and the Loudoun downzoning litigation.

Mr. Farrell has extensive experience representing lenders and borrowers in transactions involving real estate acquisition, construction and development loans. These projects have included the acquisition, development, leasing, and sale of mixed-use communities, condominium and residential projects, and commercial and retail properties; the sale of REO; negotiation of workouts; and foreclosure of non-performing loans. Mr. Farrell's environmental law and regulatory background includes matters involving lender liability, CERCLA, RCRA, Clean Air, asbestos, lead, underground storage tanks, wetlands regulation, and the Chesapeake Bay Preservation Act. He was selected by Virginia Business, based on a statewide survey of practicing attorneys, as one of the 300 best business attorneys in Virginia in the areas of Real Estate/Land Use and Environmental Law.

As the former General Counsel for the Fairfax County Democrats ("FCDC"), John has extensive expertise in Virginia election law, having represented FCDC during the 2013 Attorney General’s recount and in litigation versus the local and State Electoral Boards. During 2017 he represented one of the candidates in the House recounts and served as General Counsel to the successful Lieutenant Governor’s campaign.

Mr. Farrell is a lecturer and instructor in real estate, land use, and environmental law for the Virginia Law Foundation, the Northern Virginia Building Industry Association, and the National Business Institute. He is the former chairman of the Planning Board of the Town of Walpole, Massachusetts. He is also the past chairman of the Land Use, Environment and Transportation Committee of the Fairfax Chamber of Commerce. He has also served on the State Legislative Committee of the Home Builders Association of Virginia.

A 30-year resident of Reston, Virginia, Mr. Farrell is a past national Presi-dent of Candlelighters Childhood Cancer Foundation and a past President of the Fairfax County Girls Softball League. He served on the Building Committee of Christ the Redeemer Church of Sterling, Virginia. He is a graduate of Boston College and New England School of Law and is admitted to practice in Virginia and Massachusetts.

Leslie A. T. Haley, Park Haley LLP / Richmond (Expand/Collapse Bio)

Leslie A.T. Haley, author of Chapter 1, is currently providing legal ethics and law office management advice and counsel to lawyers and law firms, as well as representing lawyers and judges in disciplinary and admissions actions. Ms. Haley is the former Senior Assistant Ethics Counsel for the Virginia State Bar, where she spent fourteen years advising Virginia lawyers on questions of ethics, lawyer advertising, and unauthorized practice of law. In addition, Ms. Haley has worked with the Office of Executive Secretary of the Supreme Court of Virginia for the past twelve years, advising and educating Guardians ad litem, Department of Social Services counsel, and parents’ counselor the unique roles and ethical dilemmas faced in their everyday practices. She is a frequent author and lecturer on various CLE topics both in Virginia and on a national level, has served as an adjunct professor teaching legal skills and professional responsibility at William and Mary School of Law, and serves as a guardian ad litem in central Virginia courts.

Ms. Haley is a past president of the Greater Richmond Bar Foundation board, a member of the Lewis F. Powell, Jr. American Inn of Court, a fellow of the Virginia Law Foundation, and a past president of the Metropolitan Richmond Women’s Bar Association. She was also a 2010 recipient of the Influential Women of Virginia Award and serves as the Midlothian District representative to the Chesterfield County Board of Supervisors.

Jack C. Hanssen, Moyes & Associates, PLLC / Leesburg (Expand/Collapse Bio)

Jack C. Hanssen, co-author of Chapter 2, is an attorney at Moyes & Asso-ciates, PLLC, in Leesburg, Virginia, where a large part of his practice is devoted to real estate matters. His practice includes commercial and resi-dential real estate transactions and litigation, as well as business and trust and estate work. In addition to handling commercial lease transactions and routine landlord-tenant matters, he has assisted clients with complex real estate transactions. He has worked on a private placement offering to fund the construction of a physician-owned medical office building and a hospital ground lease. In recent years, he has assisted clients in donating conservation easements on thousands of acres across Loudoun County and Fauquier County and helped them with the Land Preservation Credit Application process.

Mr. Hanssen received his undergraduate degree from The College of William and Mary and his law degree from Notre Dame Law School. During law school, he clerked for Federal Magistrate Judge John Facciola, U.S. District Court for the District of Columbia.

Edmund D. Harllee, Williams Mullen / Tysons Corner (Expand/Collapse Bio)

Edmund D. Harllee, author of Chapter 13, is a shareholder in Williams Mullen's Tysons Corner office. As a transactional attorney, Mr. Harllee represents a significant number of financial institutions in connection with a wide variety of lending transactions, including commercial real estate loans, U.S. Government receivables and other asset-based loans, construction loans, mezzanine financing, syndicated loans, and loan participations. When loans become troubled assets, he represents lenders in work-outs and restructurings, having represented financial institutions through several economic downturns. Mr. Harllee also serves as local counsel to other lenders throughout the U.S. in connection with such transactions. He is frequently called upon to draft “shelf” documentation for these services, and to review documentation for compliance with federal and local state law. A former in-house counsel for a large multi-jurisdictional regional Bank in the Washington, D.C. area, Mr. Harllee advises financial institutions in such areas as bank operations, payments systems, forgeries and other fraud, credit and debit cards, and stored-value cards, as well as a wide range of online banking and cash management products. He also counsels these clients on consumer and non-consumer regulatory compliance, both federal and state, for all types of banking services.

Mr. Harllee is a co-author of Williams Mullen's Dodd-Frank alerts, as well as such publications as Real Estate Transactions in Virginia, published by the Virginia Law Foundation, and District of Columbia Commercial Lending Law, published by the American Bar Association. He is listed in the Best Lawyers in America under Banking and Finance Law.

Michael A. Inman, Inman & Strickler, P.L.C. / Virginia Beach (Expand/Collapse Bio)

Michael A. Inman, author of Chapter 18, has lived in Virginia Beach and has been practicing law in the Hampton Roads area for over 40 years, primarily in the areas of real estate, business and community association law. He is a principal in the law firm of Inman & Strickler, P.L.C., located on Lynnhaven Parkway, which has 12 attorneys who practice in various areas of the law. He and his community association practice group represent over 250 community associations in Southeast Virginia, and he is a frequent speaker on community association topics. Mr. Inman is a member of the local chapter of the Community Associations Institute (CAI), which is a resource for all persons interested in the operations of condominiums and homeowners’ associations. Mr. Inman was a member of CAI's Legislative Action Committee for the state of Virginia for over 20 years and was selected for membership in CAI's College of Community Association Lawyers in 2008. He has prepared governing documents for developers of over 100 condominiums, homeowners’ associations, and planned unit developments. Mr. Inman is involved in community activities through his service as a member of the Virginia Beach Planning Commission, his membership in Virginia Beach Vision, a group of local business leaders, the Town Center Kiwanis Club, and also as former Chair-man of the Board of Seton Youth Shelters, a charitable organization which provides shelter and counseling to at risk youth.

Tina M. LePoer, Old Republic Title Company / Manassas (Expand/Collapse Bio)

Tina M. LePoer, the author of Chapter 15, has served as Counsel and Vice President of Old Republic Exchange Company since June, 2019, and has 15 years of experience in the 1031 Tax Deferred Exchange industry.

Ms. LePoer received a Bachelor of Science from James Madison University followed by Juris Doctor from George Mason School of Law and Economics. After a private practice litigation career of ten years, Ms. LePoer made a lateral career move into the title insurance and settlement services industry, where she remained for over 15 years. It was in her position prior to joining Old Republic Exchange Company that she began working with 1031 Exchanges in addition to her work with title insurance and settlement services.

Ms. LePoer is a licensed attorney and a licensed title insurance agent, as well as an experienced qualified intermediary. In her role as counsel for Old Republic Exchange Company Ms. LePoer is responsible for advising the company and working with exchangers to ensure the success of their 1031 Exchanges.

Charles L. Menges, McGuireWoods LLP / Richmond (Expand/Collapse Bio)

Charles L. Menges, co-author of Chapter 14, is a partner at McGuireWoods LLP. Resident in the Richmond office, he counsels clients on business transactions, primarily in the real estate industry and in the banking and finance sector. His practice ranges from locally based matters to multistate and national transactions to international projects.

In the real estate area, Mr. Menges handles commercial real estate trans-actions of all types including the sale, purchase, development, financing, leasing and management of both unimproved land and existing commercial projects. He also has extensive experience representing owners and developers of hotels and resorts, including negotiating purchase and sale agreements, management agreements and franchise agreements, as well as advising hotels, private resort clubs and other hospitality clients on meeting contracts, vendor relationships, membership issues, and other matters.

In the banking and finance area, Mr. Menges represents institutional lenders and corporate borrowers in a variety of financing transactions, whether real estate-based or otherwise, including asset-based loans, unsecured investment grade lending, syndicated credits of various types, synthetic lease transactions, M&A financings, conduit lending/securitization, sale of loan portfolios, loan workouts and restructuring, and portfolio mortgage loans.

Mr. Menges frequently lectures and writes articles on opinion practice. He co-chairs the McGuireWoods Opinion Committee, chairs the Legal Opinions Committee of the Virginia Bar Association, serves as vice chair of the Attorneys’ Opinion Committee of the American College of Real Estate Lawyers, is a member of the board of directors of the Working Group on Legal Opinions Foundation, and is a past chair of the Committee on Legal Opinions in Real Estate Transactions of the ABA Real Property Trust and Estate Law Section. Mr. Menges received his undergraduate degree from the College of William & Mary and his law degree from the University of Virginia.

T. Duggan O'Dea, Vandeventer Black LLP / Richmond (Expand/Collapse Bio)

T. Duggan O'Dea, co-author of Chapter 19, is a business law attorney with Vandeventer Black LLP in Richmond, Virginia, where he regularly advises clients on a wide array of business and real estate matters. Before joining Vandeventer Black, he practiced at a large international law firm in the area of structured finance and securitization.

Mr. O'Dea received a B.A. from The College of William and Mary. After serving both as a military officer and in law enforcement, Mr. O’Dea received his J.D., magna cum laude, from the University of Richmond T.C. Williams School of Law and became a licensed Virginia attorney.

Kevin T. Pogoda, Old Republic Title Company / Chesterfield (Expand/Collapse Bio)

Kevin T. Pogoda, author of Chapter 7, serves as First Vice President and Virginia State Manager, Northern Division. In his capacity as Virginia State Manager, he regularly speaks as an instructor before various groups, including attorneys, Realtors, and title/settlement agents. Mr. Pogoda is a past president of the Virginia Land Title Association (VLTA) and the recipient of VLTA’s Distinguished Service Award for 2017. He has also authored the 16-hour online Pre-Licensing Course for the VLTA, VLTA’s 16-hour online VCTSA Course for settlement agents, and MLTA’s 16-hour online Pre-Licensing Course.

In 1998, Mr. Pogoda began his career as a settlement agent at a prominent settlement company located in Annandale, Virginia. While in that position, he performed approximately 3,000 settlements and focused on 1031 Exchanges and resolving title issues. He joined Old Republic National Title Insurance Company in May 2006

Mr. Pogoda was born in Santa Monica, California, and grew up in Southern California. A graduate of the University of California at Berkeley with degrees in Rhetoric (honors) and Legal Studies (high honors), Kevin completed his law school education at the Santa Clara University School of Law in 1994. After law school, Mr. Pogoda worked in several firms located in New Jersey, Virginia, and the District of Columbia. While in private practice, his experience included SEC compliance, Indian gaming law, commercial litigation, labor and employment law, and not-for-profit litigation. He has been admitted to practice in California, New Jersey, Virginia, and Maryland.

Wilson R. Trice, ThompsonMcMullan, P.C. / Richmond (Expand/Collapse Bio)

Wilson R. Trice, co-author of Chapter 11, is a member of the firm of ThompsonMcMullan in Richmond. His practice focuses on commercial and real estate lending, banking and consumer financial services. He is listed in Virginia Business magazine's list of "Legal Elite". Mr. Trice received a B.A. from the University of Virginia and graduated from the University of Richmond Law School, where he was on the staff of the University of Richmond Law Review and chaired its Honor Court. He is the Virginia reporter for the ABA publications Commercial Lending Law and The Law of Guaranties.

Sarah B. Warner, ThompsonMcMullan, P.C. / Richmond (Expand/Collapse Bio)

Sarah B. Warner, co-author of Chapter 11, is a member of the firm of ThompsonMcMullan in Richmond. Her practice centers on commercial and real estate lending and banking, particularly focused on government guaranteed lending with the U.S. Small Business Administration. She is listed in Virginia Business magazine's list of "Legal Elite." Ms. Warner received a B.A. from Auburn University and graduated from the University of Richmond Law School.

James L. Windsor, Kaufman & Canoles, P.C. / Virginia Beach (Expand/Collapse Bio)

James L. Windsor, author of Chapter 4, is the Managing Director of the Virginia Beach office of Kaufman & Canoles, P.C. and is the Chairman of the firm's Real Estate Claims, Title Insurance and Mortgage Default Solutions Group. Mr. Windsor is an AV Preeminent-rated lawyer with over 30 years of experience and expertise in counseling and litigation involving title insurance, real property, construction, mechanics' liens, bond claims, mortgage lending, creditors' rights, and commercial and banking law. He earned a B.S. degree, cum laude, from James Madison University and a J.D. from the T.C. Williams School of Law at the University of Richmond. Mr. Windsor is a member of the Virginia State Bar, the American Bar Association, the Virginia Beach Bar Association, and the Virginia Land Title Association. Mr. Windsor lectures frequently before construction and real estate professionals, lenders, lawyers, and others involved in construction and real estate law. He has written a book, a law review article, and other articles on topics of interest to the construction and real estate industry. Mr. Windsor was selected by peers and recognized by Virginia Business Magazine as a member of "Virginia's Legal Elite" in 2003, 2004, 2007-2014 in the area of Construction Law. He was also listed in Virginia Super Lawyers for 2006, 2010-2013, and 2015 in the area of Real Estate.

Clark H. Worthy, Gentry Locke Attorneys / Roanoke (Expand/Collapse Bio)

Clark H. Worthy, author of Chapter 3, is a partner in the commercial practice section of Gentry Locke Attorneys. Mr. Worthy advises clients regarding commercial real estate matters including purchases, sales, leases, tax free exchanges and financings. He also handles matters involving gift and estate planning techniques and represents fiduciaries in the administration of trusts and estates trust, and matters involving sales, mergers, acquisitions, and financing of businesses. Mr. Worthy received his J.D. in 1993 from Washington and Lee University School of Law and a B.S. in Finance in 1986 from the University of Virginia, McIntire School of Commerce.

Eric V. Zimmerman, Rogan Miller Zimmerman, PLLC / Leesburg (Expand/Collapse Bio)

Eric V. Zimmerman, co-author of Chapter 2, is a principal of Rogan Miller Zimmerman, PLLC located in Leesburg, Virginia. He was admitted to the Virginia Bar in 1975 and currently focuses is practice in the areas of real estate, estate planning and providing general counsel to his clients. He graduated from University of Virginia with a degree in Russian Area Studies and the New England School of Law in Boston. Mr. Zimmerman has authored several articles and participated as a presenter and moderator for CLE events. He has been a member of the Real Property Section of the Virginia State Bar for over two decades, serving two terms on the Board of Governors. In 1999 he received the Tradition of Excellence Award from the Virginia State Bar in recognition of his efforts with his community, including serving as Mayor of his hometown of Purcellville.

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