HB 1250, Vested Rights and a New Private SAGA

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Did you feel it? HB 1250 has been approved by the Virginia General Assembly. And with it, a major shift has occurred in the law of vested rights.

Vested rights is a legal principle arising from common law under which a developer can acquire the property right to develop a specific project despite a change in zoning which would no longer allow the project.

In 1998, when codifying the common law of vested rights in Virginia Code § 15.2-2307, the General Assembly listed certain governmental approvals that were “deemed” to be “significant affirmative governmental acts allowing development of a specific project.”

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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