18 Va. Admin. Code § 48-30-630

Current through Register Vol. 41, No. 9, December 16, 2024

Section 18VAC48-30-630 - Notification of successor declarant and transfer of special declarant rights

A. In the event the special declarant rights of a condominium are transferred to a successor in accordance with § 55.1-1947 of the Code of Virginia, the successor declarant shall notify the board within 30 days. Before units may be offered for sale, the successor declarant shall submit the following to the board:

1. Completed application for the successor declarant;

2. Copy of the recorded document evidencing the transfer;

3. Copies of all condominium instruments that were amended to reflect the successor or transfer of special declarant rights;

4. A public offering statement amended in accordance with this chapter;

5. All bonds or letters of credit required pursuant to §§ 55.1-1921, 55.1-1968, and 55.1-1983 of the Code of Virginia; and

6. Other documents that may be required to ensure compliance with Chapter 19 (§ 55.1-1900 et seq.) of Title 55.1 of the Code of Virginia and this chapter.

B. Documents on file with the board that have not changed in connection with the transfer need not be refiled, provided that the application for successor declarant indicates that such documents are unchanged.

18 Va. Admin. Code § 48-30-630

Derived From Virginia Register Volume 31, Issue 20, eff. 8/1/2015; Amended, Virginia Register Volume 36, Issue 06, eff. 12/31/2019.

Statutory Authority: § 54.1-2349 of the Code of Virginia.