Virginia § 55.1-2171 Declarant's obligation to complete and restore

Virginia Statutes

§ 55.1-2171 — Declarant's obligation to complete and restore

Virginia § 55.1-2171

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. § 55.1-2171 (2026).

Text

A.The declarant shall complete all improvements depicted on any site plan or other graphic representation included in the public offering statement or in any promotional material distributed by or for the declarant unless that improvement is labeled "NEED NOT BE BUILT."

B.The declarant is subject to liability for the prompt repair and restoration, to a condition compatible with the remainder of the cooperative, of any portion of the cooperative affected by the exercise of rights reserved pursuant to or created by §§ 55.1-2120, 55.1-2121, 55.1-2122, 55.1-2123, 55.1-2125, and 55.1-2126.

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A. The declarant shall complete all improvements depicted on any site plan or other graphic representation included in the public offering statement or in any promotional material distributed by or for the declarant unless that improvement is labeled "NEED NOT BE BUILT."

B. The declarant is subject to liability for the prompt repair and restoration, to a condition compatible with the remainder of the cooperative, of any portion of the cooperative affected by the exercise of rights reserved pursuant to or created by §§ 55.1-2120, 55.1-2121, 55.1-2122, 55.1-2123, 55.1-2125, and 55.1-2126.