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Bill

SB 693

Residential land; prohibited acquisition, restrictions, civil penalty.

2025 Regular Session Introduced by Glen Sturtevant and 1 co-sponsor

Virginia bill restricts foreign nationals from acquiring residential property and imposes civil penalties for violations, aiming to limit non-citizen real estate ownership.

Left in Courts of Justice
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WeVote Research Nonpartisan
Bill Summary · SB 693

Legislative bill overview

SB 693 restricts foreign nationals and entities from acquiring residential land in Virginia, establishing prohibited categories of buyers and creating civil penalties for violations. The bill appears designed to limit non-citizen ownership of residential property, with enforcement mechanisms through the state courts system.

Why is this important

Residential property ownership significantly impacts housing markets, affordability, and community stability. Foreign investment in residential real estate has become a policy concern in several states, touching on issues of property rights, economic access for citizens, and national security considerations. This bill directly affects who can participate in Virginia's residential real estate market and could influence housing availability and pricing.

Potential points of contention

  • Constitutional concerns: Restrictions on property acquisition based on citizenship or national origin may face legal challenges under property rights and equal protection doctrines
  • Economic impact: Limiting foreign investment could reduce capital flowing into residential markets, potentially affecting construction, property values, and housing supply
  • Enforcement complexity: Determining beneficial ownership and enforcing restrictions across transactions presents practical challenges, potentially requiring significant administrative resources
  • Reciprocal effects: May trigger retaliatory restrictions on U.S. citizens' property ownership in other countries
  • Definition scope: The specific categories of "prohibited" buyers and what constitutes residential land require careful definition to avoid unintended consequences

Compiled from official sources — confirm details with the bill’s official record.

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