VA HB202

Prohibits "prohibited businesses" from acquiring any interest in single-family homes in Virginia on or after July 1, 2026

Defines "prohibited business" as partnerships, corporations, or real estate investment trusts that manage pooled investor funds and hold interest in more than 50 single-family homes, excluding 501(c)(3) nonprofits and homebuilders

Requires purchasers of manufactured home parks to submit a notarized affidavit to the Department of Housing and Community Development certifying they are not a prohibited business before the deed can be conveyed

Imposes a civil penalty of up to $10,000 per occurrence for knowingly making false statements in the required affidavit, with funds deposited into the Revolving Loan Fund for the Purchase of Manufactured Home Parks

Defines "single-family home" to include freestanding residential structures for one household, manufactured home parks, and homes split into multiple dwellings, but excludes condominiums, townhouses, multifamily communities, and foreclosed properties