Virginia § 55.1-2172 Substantial completion of units

Virginia Statutes

§ 55.1-2172 — Substantial completion of units

Virginia § 55.1-2172

JurisdictionVirginia

Title 55.1Property and Conveyances

Subtitle IVCommon Interest Communities

Ch. 21Virginia Real Estate Cooperative Act

Art. 4Protection of Cooperative Purchasers

This text of Virginia § 55.1-2172 (Substantial completion of units) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 55.1-2172 (2026).

Text

In the case of a sale of a cooperative interest where delivery of a public offering statement is required, a contract of sale may be executed, but no interest in that cooperative interest may be conveyed, except pursuant to subsection B of § 55.1-2176, until the declaration is recorded and the unit that is a part of that cooperative interest is substantially completed, as evidenced by a recorded certificate of substantial completion executed by an independent, registered architect, surveyor, or engineer or by issuance of a certificate of occupancy authorized by law.

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In the case of a sale of a cooperative interest where delivery of a public offering statement is required, a contract of sale may be executed, but no interest in that cooperative interest may be conveyed, except pursuant to subsection B of § 55.1-2176, until the declaration is recorded and the unit that is a part of that cooperative interest is substantially completed, as evidenced by a recorded certificate of substantial completion executed by an independent, registered architect, surveyor, or engineer or by issuance of a certificate of occupancy authorized by law.