Resale Agreement Format In Virginia

State:
Multi-State
Control #:
US-00461
Format:
Word; 
Rich Text
Instant download

Description

The Resale Agreement format in Virginia is designed for defining the terms under which a consignor entrusts property to a consignee for sale. This form outlines the ownership rights of the consignor, ensuring that they retain title until sale, while also detailing the conditions surrounding the sale and payment processes. Key features include the description of consigned property, exclusivity rights for the consignee, pricing arrangements, payment timelines, and liability considerations for lost or damaged items. Users are encouraged to fill out the specific details, including the percentage of payment due to the consignor and the timeframe for remittances. Attorneys, partners, and legal assistants will find this agreement useful for structuring consignments, helping protect their clients' interests. Paralegals and associates can assist in drafting or customizing this form based on specific needs, ensuring clarity and compliance with relevant Virginia laws. This agreement serves as a vital tool for businesses involved in consignment sales, allowing for clear communication and legal protection between parties.
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FAQ

How to fill out a Virginia ST-10. Date the form at the top. Name of dealer should be your registered business name. Virginia Account Number should be your registered business number in Virginia. Address should be the registered address of your company.

Virginia ST-10 and Virginia ST-14 forms do not expire unless revoked by the Virginia Department of Taxation.

There are select states that require HOA contingencies by law. Virginia is one that immediately comes to mind. ing to Section 55.1-1808, purchasers may cancel the contract within three days (up to 7 days if the ratified contract extends the period) after receiving an HOA disclosure packet.

The seller is responsible for all costs associated with the preparation and delivery of the resale disclosure documents, except for the costs of any update, which are the responsibility of the requester (either the seller or purchaser), payable at settlement. See Va. Code § 55-79. D and § 55-509.6 D.

The Code of Virginia requires a written brokerage agreement when a brokerage relationship, as defined in § 54.1-2130, is created. When a customer becomes a client is based upon the party's intent.

§ 55.1-2311. If a resale certificate was issued more than 30 days but less than 12 months before settlement, the seller or the purchaser, upon proof of being the contract purchaser of the unit, may request an updated resale certificate.

In Virginia, the only permit every business needs to get at the state level is a sales tax certificate. In addition, certain craftspeople and tradespeople may need more specific types of licensing and permits, such as: Professional and occupational licenses. Zoning and land use permits.

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Resale Agreement Format In Virginia