Virginia Code 55.1-2003: Establishment of horizontal property regime
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A. A horizontal property regime is established when a developer, the sole owner, or the co-owners of one or more buildings record a master deed or lease, which includes the particulars enumerated in § 55.1-2008.
Terms Used In Virginia Code 55.1-2003
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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
B. Pursuant to § 55.1-1901, this chapter is superseded by the Virginia Condominium Act (§ 55.1-1900 et seq.) as of July 1, 1974. No new developments may be established under the provisions of this chapter after that date.
1962, c. 627, § 3, § 55-79.3; 1966, c. 683; 2019, c. 712.