Property Management
Under the VRLTA, a Virginia tenant may terminate a lease early without penalty due to:
AFinding a better apartment
BMilitary deployment, domestic abuse, or uninhabitable conditions caused by the landlord✓ Correct
CJob loss
DPersonal financial hardship alone
Explanation
The VRLTA allows early termination without penalty for military service members who receive deployment orders, victims of domestic abuse, and tenants in uninhabitable conditions caused by the landlord.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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