{"data":{"id":"us-va/va.-code-55.1-3000","jurisdiction":"us-va","citation":"Va. Code § 55.1-3000","heading":"Definitions","body":"As used in this chapter, unless the context requires a different meaning:\"Notice\" means notice given in writing by either regular mail or hand delivery, with the sender retaining sufficient proof of having given such notice in the form of a certificate of service confirming such mailing or hand delivery prepared by the sender.\"Option payment\" means the amount paid by the purchaser in a residential executory real estate contract in exchange for the right to purchase the property that is the subject of such contract at a specific price within a specified time.\"Purchaser\" means a person who enters into a residential executory real estate contract.\"Residential executory real estate contract\" means an installment land contract, lease option contract, or rent-to-own contract by which a purchaser acquires any right or interest in real property other than a right of first refusal and occupies or intends to occupy the property as his primary residence.\"Vendor\" means the person who sells, or proposes to sell, real property under a residential executory real estate contract.2019, c. 511, § 55-252.1.","path":["Title 55.1. Property and Conveyances","Subtitle V. Miscellaneous","Chapter 30. Residential Executory Real Estate Contracts Act"],"source_url":"https://law.lis.virginia.gov/vacode/55.1-3000/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:17:29Z","sha256":"f697e387b52b398440caf4d843cf0aa49a55b98e9607b8beb4a91fc04788a3b3","source_id":"us-va","stale":true,"prev":"us-va/va.-code-55.1-2906","next":"us-va/va.-code-55.1-3001"},"notice":"GroundRules: Original legal text. Not legal advice."}