{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2117.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2117.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2117.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2117.html"}],"law_id":72102,"edition_id":1,"section_id":72102,"structure_id":13510,"section_number":"55.1-2117","catch_line":"Leasehold cooperatives","history":"1982, c. 277, \u00a7 55-443; 2019, c. 712.","full_text":"A\n\nThe expiration or termination of any lease that may terminate the cooperative or reduce its size, or a memorandum of such lease, shall be recorded. The declaration shall state:1\n\nThe recording data for the lease or a statement of where the complete lease may be inspected;2\n\nThe date on which the lease is scheduled to expire;3\n\nA legally sufficient description of the real estate subject to the lease;4\n\nAny right of the proprietary lessees to redeem the reversion and how those rights may be exercised, or a statement that they do not have those rights;5\n\nAny right of the proprietary lessees to remove any improvements within a reasonable time after the expiration or termination of the lease, or a statement that they do not have those rights; and6\n\nAny rights of the proprietary lessees to renew the lease and the conditions, if any, of any renewal, or a statement that they do not have those rights.B\n\nAcquisition of the leasehold interest of any proprietary lessee by the owner of the reversion or remainder does not merge the leasehold and fee simple interests unless the leasehold interests of all proprietary lessees subject to that reversion or remainder are acquired.C\n\nIf the expiration or termination of a lease decreases the number of units in a cooperative, the allocated interests shall be reallocated in accordance with subsection A of § 55.1-2118 as though those units had been taken by eminent domain. Reallocations shall be confirmed by an amendment to the declaration prepared, executed, and recorded by the association.","order_by":null,"text":{"0":{"id":259805,"text":"The expiration or termination of any lease that may terminate the cooperative or reduce its size, or a memorandum of such lease, shall be recorded. The declaration shall state:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":259806,"text":"The recording data for the lease or a statement of where the complete lease may be inspected;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":259807,"text":"The date on which the lease is scheduled to expire;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":259808,"text":"A legally sufficient description of the real estate subject to the lease;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":259809,"text":"Any right of the proprietary lessees to redeem the reversion and how those rights may be exercised, or a statement that they do not have those rights;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":259810,"text":"Any right of the proprietary lessees to remove any improvements within a reasonable time after the expiration or termination of the lease, or a statement that they do not have those rights; and","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":259811,"text":"Any rights of the proprietary lessees to renew the lease and the conditions, if any, of any renewal, or a statement that they do not have those rights.","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"B"},"7":{"id":259812,"text":"Acquisition of the leasehold interest of any proprietary lessee by the owner of the reversion or remainder does not merge the leasehold and fee simple interests unless the leasehold interests of all proprietary lessees subject to that reversion or remainder are acquired.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A6","next_prefix":"C"},"8":{"id":259813,"text":"If the expiration or termination of a lease decreases the number of units in a cooperative, the allocated interests shall be reallocated in accordance with subsection A of § 55.1-2118 as though those units had been taken by eminent domain. Reallocations shall be confirmed by an amendment to the declaration prepared, executed, and recorded by the association.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13510,"edition_id":1,"name":"Creation, Alteration, and Termination of Cooperatives","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13509,"metadata":{},"date_created":"2026-06-26 03:45:06","date_modified":"2026-06-26 03:45:06","permalink":{"id":247161,"object_type":"structure","relational_id":13510,"identifier":"2","token":"55.1\/IV\/21\/2","url":"\/55.1\/IV\/21\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13509,"edition_id":1,"name":"Virginia Real Estate Cooperative Act","identifier":"21","label":"chapter","depth":3,"order_by":1,"parent_id":12914,"metadata":{},"date_created":"2026-06-26 03:45:06","date_modified":"2026-06-26 03:45:06","permalink":{"id":247109,"object_type":"structure","relational_id":13509,"identifier":"21","token":"55.1\/IV\/21","url":"\/55.1\/IV\/21\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12914,"edition_id":1,"name":"Common Interest Communities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12707,"metadata":{},"date_created":"2026-06-26 03:44:01","date_modified":"2026-06-26 03:44:01","permalink":{"id":246473,"object_type":"structure","relational_id":12914,"identifier":"IV","token":"55.1\/IV","url":"\/55.1\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12707,"edition_id":1,"name":"Property and Conveyances","identifier":"55.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":244769,"object_type":"structure","relational_id":12707,"identifier":"55.1","token":"55.1","url":"\/55.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":75913,"structure_id":13510,"section_number":"55.1-2112","catch_line":"Creation of cooperative ownership","url":"\/55.1-2112\/","token":"55.1\/IV\/21\/2\/55.1-2112","metadata":false},{"id":82447,"structure_id":13510,"section_number":"55.1-2113","catch_line":"Unit boundaries","url":"\/55.1-2113\/","token":"55.1\/IV\/21\/2\/55.1-2113","metadata":false},{"id":86939,"structure_id":13510,"section_number":"55.1-2114","catch_line":"Construction and validity of declaration and bylaws","url":"\/55.1-2114\/","token":"55.1\/IV\/21\/2\/55.1-2114","metadata":false},{"id":71260,"structure_id":13510,"section_number":"55.1-2115","catch_line":"Description of units","url":"\/55.1-2115\/","token":"55.1\/IV\/21\/2\/55.1-2115","metadata":false},{"id":60682,"structure_id":13510,"section_number":"55.1-2116","catch_line":"Contents of declaration","url":"\/55.1-2116\/","token":"55.1\/IV\/21\/2\/55.1-2116","metadata":false},{"id":72102,"structure_id":13510,"section_number":"55.1-2117","catch_line":"Leasehold cooperatives","url":"\/55.1-2117\/","token":"55.1\/IV\/21\/2\/55.1-2117","metadata":false},{"id":66972,"structure_id":13510,"section_number":"55.1-2118","catch_line":"Allocation of ownership interests, votes, and common expense liabilities","url":"\/55.1-2118\/","token":"55.1\/IV\/21\/2\/55.1-2118","metadata":false},{"id":84579,"structure_id":13510,"section_number":"55.1-2119","catch_line":"Limited common elements","url":"\/55.1-2119\/","token":"55.1\/IV\/21\/2\/55.1-2119","metadata":false},{"id":65450,"structure_id":13510,"section_number":"55.1-2120","catch_line":"Exercise of development rights","url":"\/55.1-2120\/","token":"55.1\/IV\/21\/2\/55.1-2120","metadata":false},{"id":73544,"structure_id":13510,"section_number":"55.1-2121","catch_line":"Alterations of units","url":"\/55.1-2121\/","token":"55.1\/IV\/21\/2\/55.1-2121","metadata":false},{"id":61131,"structure_id":13510,"section_number":"55.1-2122","catch_line":"Relocation of boundaries between adjoining units","url":"\/55.1-2122\/","token":"55.1\/IV\/21\/2\/55.1-2122","metadata":false},{"id":72357,"structure_id":13510,"section_number":"55.1-2123","catch_line":"Subdivision of units","url":"\/55.1-2123\/","token":"55.1\/IV\/21\/2\/55.1-2123","metadata":false},{"id":54476,"structure_id":13510,"section_number":"55.1-2124","catch_line":"Easement for encroachments","url":"\/55.1-2124\/","token":"55.1\/IV\/21\/2\/55.1-2124","metadata":false},{"id":79793,"structure_id":13510,"section_number":"55.1-2125","catch_line":"Use for sales purposes","url":"\/55.1-2125\/","token":"55.1\/IV\/21\/2\/55.1-2125","metadata":false},{"id":65491,"structure_id":13510,"section_number":"55.1-2126","catch_line":"Easement rights","url":"\/55.1-2126\/","token":"55.1\/IV\/21\/2\/55.1-2126","metadata":false},{"id":62864,"structure_id":13510,"section_number":"55.1-2127","catch_line":"Amendment of declaration","url":"\/55.1-2127\/","token":"55.1\/IV\/21\/2\/55.1-2127","metadata":false},{"id":79915,"structure_id":13510,"section_number":"55.1-2128","catch_line":"Termination of cooperative ownership","url":"\/55.1-2128\/","token":"55.1\/IV\/21\/2\/55.1-2128","metadata":false},{"id":69933,"structure_id":13510,"section_number":"55.1-2129","catch_line":"Rights of secured lenders","url":"\/55.1-2129\/","token":"55.1\/IV\/21\/2\/55.1-2129","metadata":false},{"id":58552,"structure_id":13510,"section_number":"55.1-2130","catch_line":"Master associations","url":"\/55.1-2130\/","token":"55.1\/IV\/21\/2\/55.1-2130","metadata":false},{"id":71160,"structure_id":13510,"section_number":"55.1-2131","catch_line":"Merger or consolidation of cooperatives","url":"\/55.1-2131\/","token":"55.1\/IV\/21\/2\/55.1-2131","metadata":false}],"previous_section":{"id":60682,"structure_id":13510,"section_number":"55.1-2116","catch_line":"Contents of declaration","url":"\/55.1-2116\/","token":"55.1\/IV\/21\/2\/55.1-2116","metadata":false},"next_section":{"id":66972,"structure_id":13510,"section_number":"55.1-2118","catch_line":"Allocation of ownership interests, votes, and common expense liabilities","url":"\/55.1-2118\/","token":"55.1\/IV\/21\/2\/55.1-2118","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2117\/","history_text":"

This law was first created in 1982. The record of its establishment is cataloged in chapter 277 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1982 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2019, chapter 712<\/a>.<\/p>","references":[{"id":60682,"section_number":"55.1-2116","catch_line":"Contents of declaration","order_by":null,"url":"\/55.1-2116\/"},{"id":65450,"section_number":"55.1-2120","catch_line":"Exercise of development rights","order_by":null,"url":"\/55.1-2120\/"},{"id":62864,"section_number":"55.1-2127","catch_line":"Amendment of declaration","order_by":null,"url":"\/55.1-2127\/"}],"refers_to":[{"id":66972,"section_number":"55.1-2118","catch_line":"Allocation of ownership interests, votes, and common expense liabilities","order_by":null,"url":"\/55.1-2118\/"}],"permalink":{"id":247183,"object_type":"law","relational_id":72102,"identifier":"55.1-2117","token":"55.1\/IV\/21\/2\/55.1-2117","url":"\/55.1-2117\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2117\/","token":"55.1\/IV\/21\/2\/55.1-2117","dublin_core":{"Title":"Leasehold cooperatives","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2117","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The expiration or termination of any lease that may terminate the cooperative<\/span> or reduce its size, or a memorandum<\/span> of such lease, shall be recorded. The declaration<\/span> shall state: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The recording data for the lease or a statement of where the complete lease may be inspected; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The date on which the lease is scheduled to expire; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> A legally sufficient description of the real estate<\/span> subject to the lease; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Any right of the proprietary lessees<\/span> to redeem the reversion and how those rights may be exercised, or a statement that they do not have those rights; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Any right of the proprietary lessees<\/span> to remove any improvements within a reasonable time after the expiration or termination of the lease, or a statement that they do not have those rights; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Any rights of the proprietary lessees<\/span> to renew the lease and the conditions, if any, of any renewal, or a statement that they do not have those rights. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Acquisition of the leasehold interest of any proprietary lessee<\/span> by the owner of the reversion or remainder does not merge the leasehold and fee simple interests unless the leasehold interests of all proprietary lessees<\/span> subject to that reversion or remainder are acquired. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> If the expiration or termination of a lease decreases the number of units<\/span> in a cooperative<\/span>, the allocated interests<\/span> shall be reallocated in accordance with subsection A of § 55.1-2118<\/a> as though those units<\/span> had been taken by eminent domain. Reallocations shall be confirmed by an amendment to the declaration<\/span> prepared, executed, and recorded by the association<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLEASEHOLD COOPERATIVES (\u00a7 55.1-2117)\n\nA. The expiration or termination of any lease that may terminate the cooperative\nor reduce its size, or a memorandum of such lease, shall be recorded. The\ndeclaration shall state:\n\n 1. The recording data for the lease or a statement of where the complete lease\n may be inspected;\n\n 2. The date on which the lease is scheduled to expire;\n\n 3. A legally sufficient description of the real estate subject to the lease;\n\n 4. Any right of the proprietary lessees to redeem the reversion and how those\n rights may be exercised, or a statement that they do not have those rights;\n\n 5. Any right of the proprietary lessees to remove any improvements within a\n reasonable time after the expiration or termination of the lease, or a\n statement that they do not have those rights; and\n\n 6. Any rights of the proprietary lessees to renew the lease and the\n conditions, if any, of any renewal, or a statement that they do not have those\n rights.\n\nB. Acquisition of the leasehold interest of any proprietary lessee by the owner\nof the reversion or remainder does not merge the leasehold and fee simple\ninterests unless the leasehold interests of all proprietary lessees subject to\nthat reversion or remainder are acquired.\n\nC. If the expiration or termination of a lease decreases the number of units in\na cooperative, the allocated interests shall be reallocated in accordance with\nsubsection A of § 55.1-2118 as though those units had been taken by eminent\ndomain. Reallocations shall be confirmed by an amendment to the declaration\nprepared, executed, and recorded by the association.\n\nHISTORY: 1982, c. 277, \u00a7 55-443; 2019, c. 712.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}