Virginia HOA and Condo Laws, in Plain English

Governs Virginia property owners' associations formed under a recorded declaration for planned communities other than condominiums or cooperatives, generally reaching developments and associations created after January 1, 1959. It covers association formation and powers, board and member governance, assessments and liens, records, and lot owner rights, with its former resale disclosure provisions now handled under the Resale Disclosure Act.

Governs Virginia condominiums created by recorded condominium instruments, applying to condominiums established on or after July 1, 1974, while recognizing earlier regimes formed under the prior Horizontal Property Act. It covers creation and amendment of the condominium, unit owners' association governance, assessments and liens, and owner rights, with resale disclosure requirements now handled under the Resale Disclosure Act.

Governs Virginia real estate cooperatives, in which a cooperative association holds title to the property and residents hold proprietary leases or similar interests rather than direct ownership, applying most fully to cooperatives created on or after July 1, 1982. It covers formation and governance of the cooperative association, common expense assessments, member records and rights, and purchaser protections, with resale disclosure requirements now handled under the Resale Disclosure Act.

Consolidates the resale disclosure rules for Virginia condominium, property owners', and cooperative associations, replacing since 2023 the separate disclosure provisions once scattered across each of those acts. It sets requirements for the resale certificate an association must provide to a seller or purchaser, covering the certificate's contents, delivery and update deadlines, and permissible fees.

• Va. Code 55.1-2309 (Resale certificate; delivery)

  Requires the association, its managing agent, or a third party preparing the resale certificate to deliver it to the requesting seller by a set deadline after a written request, treating the certificate as unavailable if that deadline is missed. It also addresses the format in which the certificate may be requested and limits what the association may demand before preparing it.

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• Va. Code 55.1-2310 (Resale certificate; form and contents)

  Specifies the detailed information an association must include in a resale certificate, covering current and unpaid assessments, financial statements, budgets and reserves, governing documents and rules, pending litigation, and any restrictions on the unit or lot. It gives a purchaser a full picture of the community's finances and rules before the sale closes.

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• Va. Code 55.1-2311 (Updated resale certificate; financial update)

  Allows a seller or purchaser to request an updated resale certificate when the original has aged, requiring the association to report any changes since it was issued, and separately lets a settlement agent request a quick financial update at closing that functions as Virginia's payoff or estoppel statement of amounts owed to the association. Both must be delivered on a fast turnaround.

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• Va. Code 55.1-2316 (Resale certificate; fees)

  Caps the fees an association may charge for preparing, delivering, updating, or providing a financial update for a resale certificate at a commercially reasonable maximum set and periodically adjusted by the Common Interest Community Board. It also addresses how those costs are split between seller and purchaser and requires the association to be current on its registration to collect such fees.

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