Virginia Code 55.1-2000: Definitions
As used in this chapter, unless the context requires a different meaning:
Terms Used In Virginia Code 55.1-2000
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Includes: means includes, but not limited to. See Virginia Code 1-218
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- real estate: includes lands, tenements and hereditaments, and all rights and appurtenances thereto and interests therein, other than a chattel interest. See Virginia Code 1-219
“Apartment” means a dwelling that is an enclosed space consisting of one or more rooms occupying all or part of one or more floors in a building of one or more floors regardless of whether it is designed or used for residence, for office, for the operation of any industry or business, or for any other type of independent use, or combination of uses, provided that the dwelling has a direct exit to a thoroughfare or to a given common space leading to a thoroughfare. “Apartment” also includes such accessories as may be appurtenant to such dwelling.
“Condominium” means the ownership of a single unit in a multiple-unit structure with common elements in a condominium project.
“Condominium project” means a plan or project whereby four or more apartments, rooms, office spaces, or other units existing or proposed, whether the unit involves a single structure, attached to or detached from other units, or is in one or more multiple-unit structures, on contiguous parcels of real estate are offered or proposed to be offered for sale.
“Co-owner” means a person, firm, corporation, partnership, association, trust, or other legal entity, or any combination thereof, that owns an apartment within the building.
“Council of co-owners” means all of the co-owners acting as a group in accordance with the bylaws of the horizontal property regime.
“Developer” means a person that undertakes to develop a real estate condominium project.
“General common elements,” unless otherwise provided in the master deed or lease, means and includes:
1. The land, whether leased or in fee simple, on which the building stands;
2. The foundations, main walls, roofs, halls, lobbies, stairways, and entrances and exits or communication ways;
3. The basements, flat roofs, yards, and gardens, except as otherwise provided or stipulated;
4. The premises for the lodging of janitors or persons in charge of the building, except as otherwise provided or stipulated;
5. The compartments or installations of central services, including power, light, gas, cold and hot water, refrigeration, reservoirs, water tanks, and pumps;
6. The elevators, garbage incinerators, and all other devices or installations existing for common use; and
7. All other elements of the property rationally of common use or necessary to its existence, upkeep, and safety.
“Limited common elements” means those common elements that are agreed upon by all of the co-owners to be reserved for the use of a certain number of apartments to the exclusion of the other apartments, including special corridors, stairways and elevators, and sanitary services common to the apartments of a particular floor.
“Majority of co-owners” means more than 50 percent of the votes of the co-owners computed in accordance with the bylaws of the horizontal property regime.
“Master deed” or “master lease” means the deed or lease recording the property of the horizontal property regime.
“Person” means an individual, firm, corporation, partnership, association, trust, or other legal entity or any combination thereof.
“Property” means the land, whether leased or in fee simple, the building, all improvements and structures on such land, and all easements, rights, and appurtenances belonging to such land.
“To record” means to record pursuant to the laws of the Commonwealth relating to the recordation of deeds.
1962, c. 627, § 2, § 55-79.2; 1966, c. 683; 1972, c. 450; 2009, c. 557; 2019, c. 712.