A condominium association is an association of unit owners in a condominium building. The association elects a board of directors, which handles the maintenance and repair of common areas, disputes among unit owners, and enforcement of rules and regulations, and condominium fees. The rules and regulations are normally adopted by the board of directors of the association.
Virginia Rules and Regulations of an Association of Owners of a Condominium Association
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Resale certificate; delivery. A. The seller shall be required to obtain the resale certificate from the association and provide such resale certificate to the purchaser.
§ 55.1-2307. "Agent" means the authorized agent designated by the purchaser or seller in a ratified real estate contract, listing agreement, or other writing designating such agent.
Access to association records; association meetings; notice. A. The association shall keep detailed records of receipts and expenditures affecting the operation and administration of the association.
In a condominium association each unit is owned individually and the common elements are owned jointly in common with all of the unit owners. In a homeowners association each lot is owned individually, but the common areas are owned by the Association (not by the lot owners).
A deed may include a general provision that states that such deed is subject to any and all covenants and restrictions of record; however, such provision shall not apply to the specific portion of a restrictive covenant purporting to restrict the ownership or use of the property as prohibited by subsection A of § 36- ...
The Virginia Property Owners' Association Act covers policies mostly for the common areas of a residential development in Virginia. The seller is obligated to provide a written copy of all association documents before a buyer purchases a home. A buyer may cancel within three days of receiving the association documents.
If any person does not have the capability or desire to conduct business using electronic means, the unit owners' association shall make available a reasonable alternative, at its expense, for such person to conduct business with the unit owners' association without use of such electronic means.
The Virginia Condominium Act (the ?Act?) found under the new Title 55.1, Chapter 19 (§§ 55.1-1900 through 55.1-1995) of the Code of Virginia, applies to ?all condominiums and to all horizontal property regimes or condominium projects.