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HB202 • 2026

Single-family-homes; prohibited acquisition, civil penalty.

<p class=ldtitle>A BILL to amend and reenact § 55.1-1308.2 of the Code of Virginia and to amend the Code of Virginia by adding in Title 55.1 a chapter numbered 33, consisting of sections numbered 55.1-3300 and 55.1-3301, relating to prohibited acquisition of single-family homes; affidavit; civil penalty.</p>

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Griffin
Last action
2026-02-18
Official status
Failed
Effective date
Not listed

Plain English Breakdown

The bill summary does not provide specific details on enforcement mechanisms or penalties beyond the civil penalty for false statements.

Rules for Buying Single-Family Homes

This law stops certain big companies from buying more than 50 single-family homes and manufactured home parks starting July 1, 2026.

What This Bill Does

  • It restricts partnerships, corporations, or real estate investment trusts that manage money for investors and own over 50 single-family homes from acquiring any interest in additional single-family homes after July 1, 2026.
  • It requires anyone who wants to buy a manufactured home park to sign an official statement saying they are allowed to do so under the new rules.
  • If someone lies on this statement, they can be fined up to $10,000 per lie.

Who It Names or Affects

  • Partnerships, corporations, or real estate investment trusts managing money for investors who own over 50 single-family homes.
  • People buying manufactured home parks.

Terms To Know

Prohibited business
A partnership, corporation, or real estate investment trust that manages funds pooled from investors and holds an interest in more than 50 single-family homes.
Single-family home
Real property where the only substantial improvement is a free-standing residential structure intended for use by one family as a single dwelling unit, including manufactured home parks or split dwellings.

Limits and Unknowns

  • The law does not apply to nonprofits or companies that only build homes.
  • It is unclear how the law will be enforced and what happens if someone breaks it.

Bill History

  1. 2026-02-18 House

    Left in Committee Courts of Justice

  2. 2026-02-18 House

    Left in Committee Education

  3. 2026-01-30 Civil

    Subcommittee recommends striking from the docket (7-Y 0-N)

  4. 2026-01-26 House

    Fiscal Impact Statement from Department of Planning and Budget (HB202)

  5. 2026-01-22 Civil

    Assigned HCJ sub: Civil

  6. 2026-01-07 House

    Prefiled and ordered printed; Offered 01-14-2026 26100172D

  7. 2026-01-07 Courts of Justice

    Referred to Committee for Courts of Justice

Official Summary Text

Prohibited acquisition of single-family homes; affidavit; civil penalty.
Restricts any partnership, corporation, or real estate investment trust that manages funds pooled from investors, is a fiduciary to such investors, has net value or assets under management on any day during a taxable year, and holds an interest in more than 50 single-family homes from acquiring any interest in any other single-family home, as defined in the bill to include manufactured home parks and residential single-family homes split into multiple dwellings, on or after July 1, 2026. The bill also requires an offering purchaser of a manufactured home park to provide a notarized affidavit certifying that the purchaser is not prohibited from acquiring such an interest. Any false statements on such affidavit is subject to a civil penalty of up to $10,000 per occurrence.

Current Bill Text

Read the full stored bill text 
A BILL to amend and reenact §
55.1-1308.2
of the Code of Virginia and to amend the Code of Virginia by adding in Title 55.1 a chapter numbered 33, consisting of sections numbered
55.1-3300
and
55.1-3301
, relating to prohibited acquisition of single-family homes; affidavit; civil penalty.

Be it enacted by the General Assembly of Virginia:

1. That §
55.1-1308.2
of the Code of Virginia is amended and reenacted and that the Code of Virginia is amended by adding in Title 55.1 a chapter numbered 33, consisting of sections numbered
55.1-3300
and
55.1-3301
, as follows:

§
55.1-1308.2
. Notice of intent to sell; civil penalty.

A. A manufactured home park owner who offers or lists the park for sale to a third party shall provide written notice containing the date on which the notice is sent and the price for which the park is to be offered or listed for sale. Such notice shall be sent to the Department of Housing and Community Development
(the Department)
, which shall make the information available on its website within five business days of receipt. Such written notice shall also be given to each tenant of the manufactured home park, in accordance with §
55.1-1202
, at least 90 days prior to accepting an offer. A manufactured home park owner shall consider any offers to purchase received during such 90-day notice period. For purposes of this section, "third party" does not include a member of the manufactured park owner's family by blood or marriage or a person or entity that owns a portion of the park at the time of the offer or listing of such manufactured home park. Nothing shall be construed to require any subsequent notice by the manufactured home park owner after the written notice provided in this section.

B. If a manufactured home park owner receives an offer to purchase the park, acceptance of that offer shall be contingent upon the park owner sending written notice of the proposed sale and the purchase price in the real estate purchase contract at least 60 days before the closing date on such purchase contract to the Department
of Housing and Community Development
, which shall place the information on its website within five business days of receipt. Such written notice shall also be given to each tenant of the manufactured home park. During the 60-day notice period, the park owner shall consider additional offers to purchase the park made by an entity that provides documentation that it represents at least 25 percent of the tenants with a valid lease in the manufactured home park at the time any such offer is made, but shall not be obligated to consider additional offers after the expiration of the 60-day notice period. Nothing shall be construed to require any subsequent notice by the manufactured home park owner after provision of the written notice required by this section.

C. If a
manufactured
home park owner receives an offer to purchase the park, upon certification to the Department as required under subsections A and B, the offering purchaser shall provide an affidavit, notarized by a notary public certified to perform such services in
the Commonwealth, certifying that the purchaser does not qualify as a prohibited business as such term is defined in
§
55.1-3300
. The deed to the land where the manufactured home park is located shall not be conveyed at the time of sale closing until such affidavit is received by the Department. In no event shall the Department
make such affidavit of compliance available on its public website.

D. Any purchaser, his agent, or his designee who knowingly makes a false statement, representation, or certification in his affidavit described in subsection C shall, upon discovery, be subject to a civil penalty of not more than $10,000 per occurrence to be deposited into the Re
volving Loan Fund for the Purchase of Manufactured Home Parks pursuant to the general appropriation act.

CHAPTER

3
3
.

CERTAIN BUSINESSES AND HOMEOWNERSHIP
.

§
55.1-3300
. Definitions.

A. As used in this chapter
, unless the context requires a different meaning
:

"Homebuilder" means an organization engaged solely in the construction or rehabilitation of single
-
family homes and neither has an affiliation with nor conducts business with, by, or on behalf of a prohibited business.

"Interest" means any right, title, or interest, di
rect or indirect, in and to (i) a single-family home or manufactured home park in the Commonwealth or (ii) any entity or other organization that holds any right, title, or interest, direct or indirect, in and to a single-family home or a manufactured home park in the Commonwealth.

"Manufactured home park" means the same as
that
term is defined in
§
55.1-1300
.

"Prohibited business" means any partnership, corporation, or real estate investment trust that manages funds pooled from investors, is a fiduciary to such investors, has net value or assets under

management on any day during
a
taxable year, and holds an interest in more than
50
single-family
homes. "Prohibited business" does not include (i) a nonprofit corporation as defined in § 501(c)(3) of the Internal Revenue Code or (ii) a homebuilder.

"Single-family home" means real property or real estate where the only
substantial improvement to such real property or real estate in the Commonwealth is a
free standing
residential
structure intended for use by one family or household as a single dwelling unit
. "Single-family home" includes real property or real estate where the only substantial improvement to such real property or real estate is a manufactured home park or a residential single-family home split into two or more dwellings.
"Single-family home"
does not include (i) real pr
operty or real estate where the only substantial improvement to such real property or real estate is a condominium, townhouse, or multifamily community; (ii) any unoccupied single-family home acquired through foreclosure; or (iii) any single-family home that is not rented or leased and is used as the primary residence of any person with an ownership interest in a pro
hibited business.

§
55.1-3301
. Prohibited acquisition of single-family home.

Notwithstanding any other provision of law, in order to protect the health, safety, and welfare of all citizens of the Commonwealth, no prohibited business shall acquire any interest in a single-family home in the Commonwealth on or after July 1, 2026.