This form is signed by and on behalf of the Unit Operator covering lands in which a Unit was formed and established by the Unit Agreement. Pursuant to the specified Article/Section of the Agreement, the purposes for which the Unit was established are no longer in effect and the parties to the Agreement (being the original Working Interest Owners in Tracts included in the Unit, or their successors) have elected to terminate the Agreement.
Virginia Certificate of Termination of Unit
State:
Multi-State
Control #:
US-OG-735
Format:
Word;
Rich Text
Instant download
Description
How to fill out Certificate Of Termination Of Unit?
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FAQ
What do bylaw changes require under the Virginia Condominium Act? Under the Virginia Condominium Act, bylaw changes require the approval of a majority of the unit owners.
Section 55-79.71 of the Virginia Condominium Act requires ?two-thirds of the votes in the unit owner's association? to amend the Declaration, unless the Declaration requires a larger percentage.
Declarant (owner who develops or converts property) must register with the Board (submit an application and Public Offering Statement) and record (locally) time share instruments (includes name and location of time share development), form and duration of time share periods (use or ownership), any common expenses, any ...
Termination of condominium. A. If there is no unit owner other than the declarant, the declarant may unilaterally terminate the condominium.
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.
Under Virginia law a purchaser of a condominium unit is afforded a 5-day period during which the purchaser may cancel the purchase contract of sale and obtain a full refund of any sums deposited in connection with the purchase contract.
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 unit owners' association shall have the power, to the extent the condominium instruments or the condominium's rules and regulations expressly provide, to (i) suspend a unit owner's right to use facilities or services, including utility services, provided directly through the unit owners' association for nonpayment ...
