Virginia § 55.1-2158 Public offering statement; cooperatives containing conversion building

Virginia Statutes

§ 55.1-2158 — Public offering statement; cooperatives containing conversion building

Virginia § 55.1-2158

JurisdictionVirginia

Title 55.1Property and Conveyances

Subtitle IVCommon Interest Communities

Ch. 21Virginia Real Estate Cooperative Act

Art. 4Protection of Cooperative Purchasers

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Bluebook

Va. Code Ann. § 55.1-2158 (2026).

Text

A.In addition to the information required by § 55.1-2155, the public offering statement of a cooperative containing any conversion building shall contain:

1.A statement by the declarant, based on a report prepared by an independent, registered architect or engineer, describing the present condition of all structural components and mechanical and electrical installations material to the use and enjoyment of the building;

2.A statement by the declarant of the expected useful life of each item reported on in subdivision 1, or a statement that no representations are made in that regard; and

3.A list of any outstanding notices of uncured violations of building code or other municipal regulations, together with the estimated cost of curing those violations.

B.This section applies only t

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A. In addition to the information required by § 55.1-2155, the public offering statement of a cooperative containing any conversion building shall contain:

1. A statement by the declarant, based on a report prepared by an independent, registered architect or engineer, describing the present condition of all structural components and mechanical and electrical installations material to the use and enjoyment of the building;

2. A statement by the declarant of the expected useful life of each item reported on in subdivision 1, or a statement that no representations are made in that regard; and

3. A list of any outstanding notices of uncured violations of building code or other municipal regulations, together with the estimated cost of curing those violations.

B. This section applies only to buildings containing units that may be occupied for residential use.