Virginia Code 55.1-2304: Restraints on alienation
Current as of: 2023 | Check for updates
|
Other versions
Provided that selling or leasing a lot is not specifically prohibited by recorded covenant, it is unlawful to restrain the owner of a lot in a subdivision from offering such lot for sale or lease or from selling or leasing such lot. Any deed restriction or recorded covenant that creates a right of first refusal in excess of 30 days or creates a sales restraint that denies lot owners the right to post for-sale signs of reasonable size is null and void.
Terms Used In Virginia Code 55.1-2304
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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
- Lot: means any unit, parcel, division, piece of land, or interest in land except utility easements if such interest carries with it the exclusive right to use a specific portion of property. See Virginia Code 55.1-2300
- sale: means any lease, assignment, or exchange, or any interest in any lot that is a part of or included in a subdivision. See Virginia Code 55.1-2300
- Subdivision: means :
1. See Virginia Code 55.1-2300
1978, c. 510, § 55-343; 2019, c. 712.