2006 Code of Virginia § 55-79.41 - Definitions

55-79.41. Definitions.

When used in this chapter:

"Capital components" means those items, whether or not a part of the commonelements, for which the unit owners' association has the obligation forrepair, replacement or restoration and for which the executive organdetermines funding is necessary.

"Common elements" means all portions of the condominium other than theunits.

"Common expenses" means all expenditures lawfully made or incurred by or onbehalf of the unit owners' association, together with all funds lawfullyassessed for the creation and/or maintenance of reserves pursuant to theprovisions of the condominium instruments.

"Condominium" means real property, and any incidents thereto or intereststherein, lawfully submitted to this chapter by the recordation of condominiuminstruments pursuant to the provisions of this chapter. No project shall bedeemed a condominium within the meaning of this chapter unless the undividedinterests in the common elements are vested in the unit owners.

"Condominium instruments" is a collective term referring to thedeclaration, bylaws, and plats and plans, recorded pursuant to the provisionsof this chapter. Any exhibit, schedule, or certification accompanying acondominium instrument and recorded simultaneously therewith shall be deemedan integral part of that condominium instrument. Any amendment orcertification of any condominium instrument shall, from the time of therecordation of such amendment or certification, be deemed an integral part ofthe affected condominium instrument, so long as such amendment orcertification was made in accordance with the provisions of this chapter.

"Condominium unit" means a unit together with the undivided interest in thecommon elements appertaining to that unit. (Cf. the definition of "unit,"infra.)

"Contractable condominium" means a condominium from which one or moreportions of the submitted land may be withdrawn in accordance with theprovisions of the declaration and of this chapter. If such withdrawal canoccur only by the expiration or termination of one or more leases, then thecondominium shall not be deemed a contractable condominium within the meaningof this chapter.

"Conversion condominium" means a condominium containing structures whichbefore the recording of the declaration, were wholly or partially occupied bypersons other than those who have contracted for the purchase of condominiumunits and those who occupy with the consent of such purchasers.

"Convertible land" means a building site; that is to say, a portion of thecommon elements, within which additional units and/or limited common elementsmay be created in accordance with the provisions of this chapter.

"Convertible space" means a portion of a structure within the condominium,which portion may be converted into one or more units and/or common elements,including but not limited to limited common elements in accordance with theprovisions of this chapter. (Cf. the definition of "unit," infra.)

"Declarant" means any person, or group of persons acting in concert, that(i) offers to dispose of his or its interest in a condominium unit notpreviously disposed of, including an institutional lender which may not havesucceeded to or accepted any special declarant rights pursuant to 55-79.74:3; (ii) reserves or succeeds to any special declarant right; or(iii) applies for registration of the condominium. However, for the purposesof clauses (i) and (iii), the term "declarant" shall not include aninstitutional lender which acquires title by foreclosure or deed in lieuthereof unless such lender offers to dispose of its interest in a condominiumunit not previously disposed of to anyone not in the business of selling realestate for his own account, except as otherwise provided in 55-79.74:3. Theterm "declarant" shall not include an individual who acquires title to acondominium unit at a foreclosure sale.

"Dispose" or "disposition" refers to any voluntary transfer of a legal orequitable interest in a condominium unit to a purchaser, but shall notinclude the transfer or release of security for a debt.

"Electronic transmission" means any form of communication, not directlyinvolving the physical transmission of paper, that creates a record that maybe retained, retrieved, and reviewed by a recipient thereof, and that may bedirectly reproduced in paper form by such a recipient through an automatedprocess. Any term used in this definition that is defined in 59.1-480 ofthe Uniform Electronic Transactions Act shall have the meaning set forth insuch section.

"Executive organ" means an executive and administrative entity, by whatevername denominated, designated in the condominium instruments as the governingbody of the unit owners' association.

"Expandable condominium" means a condominium to which additional land maybe added in accordance with the provisions of the declaration and of thischapter.

"Future common expenses" means common expenses for which assessments arenot yet due and payable.

"Identifying number" means one or more letters and/or numbers that identifyonly one unit in the condominium.

"Institutional lender" means one or more commercial or savings banks,savings and loan associations, trust companies, credit unions, industrialloan associations, insurance companies, pension funds, or business trustsincluding but not limited to real estate investment trusts, any other lenderregularly engaged in financing the purchase, construction, or improvement ofreal estate, or any assignee of loans made by such a lender, or anycombination of any of the foregoing entities.

"Land" is a three-dimensional concept and includes parcels with upper orlower boundaries, or both upper and lower boundaries, as well as parcelsextending ab solo usque ad coelum. Parcels of airspace constitute land withinthe meaning of this chapter. Any requirement in this chapter of a legallysufficient description shall be deemed to include a requirement that theupper or lower boundaries, if any, of the parcel in question be identifiedwith reference to established datum.

"Leasehold condominium" means a condominium in all or any portion of whicheach unit owner owns an estate for years in his unit, or in the land withinwhich that unit is situated, or both, with all such leasehold interests dueto expire naturally at the same time. A condominium including leased land, oran interest therein, within which no units are situated or to be situatedshall not be deemed a leasehold condominium within the meaning of thischapter.

"Limited common element" means a portion of the common elements reservedfor the exclusive use of those entitled to the use of one or more, but lessthan all, of the units.

"Meeting" or "meetings" means the formal gathering of the executive organwhere the business of the unit owners' association is discussed or transacted.

"Nonbinding reservation agreement" means an agreement between the declarantand a prospective purchaser which is in no way binding on the prospectivepurchaser and which may be canceled without penalty at the sole discretion ofthe prospective purchaser by written notice, hand-delivered or sent by UnitedStates mail, return receipt requested, to the declarant or to any sales agentof the declarant at any time prior to the formation of a contract for thesale or lease of a condominium unit or an interest therein. Such agreementshall not contain any provision for waiver or any other provision inderogation of the rights of the prospective purchaser as contemplated by thissubsection, nor shall any such provision be a part of any ancillary agreement.

"Offer" means any inducement, solicitation, or attempt to encourage anyperson or persons to acquire any legal or equitable interest in a condominiumunit, except as security for a debt. Nothing shall be considered an "offer"which expressly states that the condominium has not been registered with theReal Estate Board and that no unit in the condominium can or will be offeredfor sale until such time as the condominium has been so registered.

"Officer" means any member of the executive organ or official of the unitowners' association.

"Par value" means a number of dollars or points assigned to each unit bythe declaration. Substantially identical units shall be assigned the same parvalue, but units located at substantially different heights above the ground,or having substantially different views, or having substantially differentamenities or other characteristics that might result in differences in marketvalue, may, but need not, be considered substantially identical within themeaning of this subsection. If par value is stated in terms of dollars, thatstatement shall not be deemed to reflect or control the sales price or fairmarket value of any unit, and no opinion, appraisal, or fair markettransaction at a different figure shall affect the par value of any unit, orany undivided interest in the common elements, voting rights in the unitowners' association or liability for common expenses assigned on the basisthereof.

"Person" means a natural person, corporation, partnership, association,trust, or other entity capable of holding title to real property, or anycombination thereof.

"Purchaser" means any person or persons, other than a declarant, whoacquire by means of a voluntary transfer a legal or equitable interest in acondominium unit, other than (i) a leasehold interest, including renewaloptions, of less than 20 years or (ii) as security for a debt.

"Size" means the number of cubic feet, or the number of square feet ofground and/or floor space, within each unit as computed by reference to theplat and plans and rounded off to a whole number. Certain spaces within theunits including, without limitation, attic, basement, and/or garage spacemay, but need not, be omitted from such calculation or partially discountedby the use of a ratio, so long as the same basis of calculation is employedfor all units in the condominium, and so long as that basis is described inthe declaration.

"Special declarant rights" means any right reserved for the benefit of adeclarant, or of a person or group of persons that becomes a declarant, to(i) expand an expandable condominium, (ii) contract a contractablecondominium, (iii) convert convertible land or convertible space or both,(iv) appoint or remove any officers of the unit owners' association or theexecutive organ pursuant to subsection A of 55-79.74, (v) exercise anypower or responsibility otherwise assigned by any condominium instrument orby this chapter to the unit owners' association, any officer or the executiveorgan, or (vi) maintain sales offices, management offices, model units andsigns pursuant to 55-79.66.

"Unit" means a portion of the condominium designed and intended forindividual ownership and use. (Cf. the definition of "condominium unit,"supra.) For the purposes of this chapter, a convertible space shall betreated as a unit in accordance with subsection (d) of 55-79.62.

"Unit owner" means one or more persons who own a condominium unit, or, inthe case of a leasehold condominium, whose leasehold interest or interests inthe condominium extend for the entire balance of the unexpired term or terms.This term shall not include any person or persons holding an interest in acondominium unit solely as security for a debt.

(1974, c. 416; 1975, c. 415; 1981, c. 480; 1982, c. 545; 1991, c. 497; 1993,c. 667; 1996, c. 977; 2001, c. 715; 2002, c. 459; 2003, c. 442.)