Virginia Code 55.1-1938: Rights of mortgagees
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No provision of this chapter shall be construed in derogation of any requirement of the condominium instruments that all or a specified number of the beneficiaries of mortgages or deeds of trust encumbering the condominium units approve specified actions contemplated by the unit owners’ association.
Terms Used In Virginia Code 55.1-1938
- Condominium: means real property, and any incidents to or interests in such real property, lawfully subject to this chapter by the recordation of condominium instruments pursuant to the provisions of this chapter. See Virginia Code 55.1-1900
- Unit: means a portion of the condominium designed and intended for individual ownership and use. See Virginia Code 55.1-1900
1993, c. 667, § 55-79.72:2; 2019, c. 712.