§ 55.1-2008 — Master deed or lease; recordation; particulars

Virginia § 55.1-2008

• Jurisdiction: Virginia
• Title 55.1: Property and Conveyances
• Subtitle IV: Common Interest Communities
• Ch. 20: Horizontal Property Act
• Art. 3: Management of Horizontal Property Regimes

Text

A master deed or lease shall be recorded in the same manner and subject to the same provisions of law as are other deeds, provided that no state or local recordation tax upon the value of the property transferred shall apply to any such deed recorded solely for the purpose of complying with the provisions of § 55.1-2003.

The master deed or lease required pursuant to § 55.1-2003 shall include the following particulars:

1. The description of the land, whether leased or in fee simple, and the building, expressing their respective areas;

2. The general description and the number of each apartment, expressing its area, location, and any other data necessary for its identification;

3. The description of the general common elements of the building; and

4. The provisions requiring the council of co-owners to maintain insurance on the horizontal property regime.

Legislative History

1962, c. 627, § 7, § 55-79.7; 1966, c. 683; 1973, c. 375; 2019, c. 712.