{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2144.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2144.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2144.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2144.html"}],"law_id":83581,"edition_id":1,"section_id":83581,"structure_id":15093,"section_number":"55.1-2144","catch_line":"Conveyance or encumbrance of the cooperative","history":"1982, c. 277, \u00a7 55-469; 2019, c. 712.","full_text":"A\n\nPart of the cooperative may be conveyed, and all or part of the cooperative may be subjected to a security interest, by the association if persons entitled to cast at least 80 percent of the votes in the association, including a simple majority of the votes allocated to cooperative interests not owned by a declarant, or any larger percentage the declaration specifies, agree to that action. If fewer than all the units or limited common elements are to be conveyed or subjected to a security interest, then all the proprietary lessees of those units, or the units to which those limited common elements are allocated, must agree in order to convey those units or limited common elements or subject them to a security interest. The declaration may specify a smaller percentage only if all of the units are restricted exclusively to nonresidential uses. Proceeds of the sale are an asset of the association.B\n\nAn agreement to convey a part of the cooperative or subject it to a security interest must be evidenced by the execution of an agreement, or ratifications of such an agreement, in the same manner as a deed, by the requisite number of proprietary lessees. The agreement must specify a date after which the agreement will be void unless recorded before that date. The agreement and such ratifications must be recorded in every county or city in which a portion of the cooperative is situated and is effective only upon recordation.C\n\nThe association, on behalf of the proprietary lessees, may contract to convey a part of the cooperative or subject it to a security interest, but the contract is not enforceable against the association until approved pursuant to subsections A and B. After such approval, the association has all powers necessary and appropriate to effect the conveyance or encumbrance including the power to execute deeds or other instruments.D\n\nAny purported conveyance, encumbrance, or other voluntary transfer of the cooperative, unless made pursuant to this section or pursuant to subsection C of § 55.1-2128, is void.E\n\nA conveyance or encumbrance of the cooperative pursuant to this section does not deprive any unit of its rights of access and support.","order_by":null,"text":{"0":{"id":299531,"text":"Part of the cooperative may be conveyed, and all or part of the cooperative may be subjected to a security interest, by the association if persons entitled to cast at least 80 percent of the votes in the association, including a simple majority of the votes allocated to cooperative interests not owned by a declarant, or any larger percentage the declaration specifies, agree to that action. If fewer than all the units or limited common elements are to be conveyed or subjected to a security interest, then all the proprietary lessees of those units, or the units to which those limited common elements are allocated, must agree in order to convey those units or limited common elements or subject them to a security interest. The declaration may specify a smaller percentage only if all of the units are restricted exclusively to nonresidential uses. Proceeds of the sale are an asset of the association.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":299532,"text":"An agreement to convey a part of the cooperative or subject it to a security interest must be evidenced by the execution of an agreement, or ratifications of such an agreement, in the same manner as a deed, by the requisite number of proprietary lessees. The agreement must specify a date after which the agreement will be void unless recorded before that date. The agreement and such ratifications must be recorded in every county or city in which a portion of the cooperative is situated and is effective only upon recordation.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":299533,"text":"The association, on behalf of the proprietary lessees, may contract to convey a part of the cooperative or subject it to a security interest, but the contract is not enforceable against the association until approved pursuant to subsections A and B. After such approval, the association has all powers necessary and appropriate to effect the conveyance or encumbrance including the power to execute deeds or other instruments.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":299534,"text":"Any purported conveyance, encumbrance, or other voluntary transfer of the cooperative, unless made pursuant to this section or pursuant to subsection C of § 55.1-2128, is void.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":299535,"text":"A conveyance or encumbrance of the cooperative pursuant to this section does not deprive any unit of its rights of access and support.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D"}},"ancestry":[{"id":15093,"edition_id":1,"name":"Management of Cooperatives","identifier":"3","label":"article","depth":4,"order_by":1,"parent_id":13509,"metadata":{},"date_created":"2026-06-26 03:52:06","date_modified":"2026-06-26 03:52:06","permalink":{"id":247243,"object_type":"structure","relational_id":15093,"identifier":"3","token":"55.1\/IV\/21\/3","url":"\/55.1\/IV\/21\/3\/","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":79353,"structure_id":15093,"section_number":"55.1-2132","catch_line":"Organization of the association","url":"\/55.1-2132\/","token":"55.1\/IV\/21\/3\/55.1-2132","metadata":false},{"id":74016,"structure_id":15093,"section_number":"55.1-2133","catch_line":"Powers of the association","url":"\/55.1-2133\/","token":"55.1\/IV\/21\/3\/55.1-2133","metadata":false},{"id":74697,"structure_id":15093,"section_number":"55.1-2133.1","catch_line":"Installation of solar energy collection devices","url":"\/55.1-2133.1\/","token":"55.1\/IV\/21\/3\/55.1-2133.1","metadata":false},{"id":58879,"structure_id":15093,"section_number":"55.1-2134","catch_line":"Executive board members and officers","url":"\/55.1-2134\/","token":"55.1\/IV\/21\/3\/55.1-2134","metadata":false},{"id":74321,"structure_id":15093,"section_number":"55.1-2135","catch_line":"Transfer of special declarant rights","url":"\/55.1-2135\/","token":"55.1\/IV\/21\/3\/55.1-2135","metadata":false},{"id":86214,"structure_id":15093,"section_number":"55.1-2136","catch_line":"Termination of contracts and leases of declarant","url":"\/55.1-2136\/","token":"55.1\/IV\/21\/3\/55.1-2136","metadata":false},{"id":57517,"structure_id":15093,"section_number":"55.1-2137","catch_line":"Bylaws","url":"\/55.1-2137\/","token":"55.1\/IV\/21\/3\/55.1-2137","metadata":false},{"id":74592,"structure_id":15093,"section_number":"55.1-2138","catch_line":"Upkeep of cooperative","url":"\/55.1-2138\/","token":"55.1\/IV\/21\/3\/55.1-2138","metadata":false},{"id":80840,"structure_id":15093,"section_number":"55.1-2139","catch_line":"Common elements; notice of pesticide application","url":"\/55.1-2139\/","token":"55.1\/IV\/21\/3\/55.1-2139","metadata":false},{"id":75581,"structure_id":15093,"section_number":"55.1-2139.1","catch_line":"Electric vehicle charging stations permitted","url":"\/55.1-2139.1\/","token":"55.1\/IV\/21\/3\/55.1-2139.1","metadata":false},{"id":71613,"structure_id":15093,"section_number":"55.1-2140","catch_line":"Meetings","url":"\/55.1-2140\/","token":"55.1\/IV\/21\/3\/55.1-2140","metadata":false},{"id":75116,"structure_id":15093,"section_number":"55.1-2141","catch_line":"Quorums","url":"\/55.1-2141\/","token":"55.1\/IV\/21\/3\/55.1-2141","metadata":false},{"id":68455,"structure_id":15093,"section_number":"55.1-2142","catch_line":"Voting; proxies","url":"\/55.1-2142\/","token":"55.1\/IV\/21\/3\/55.1-2142","metadata":false},{"id":63917,"structure_id":15093,"section_number":"55.1-2143","catch_line":"Tort and contract liability","url":"\/55.1-2143\/","token":"55.1\/IV\/21\/3\/55.1-2143","metadata":false},{"id":83581,"structure_id":15093,"section_number":"55.1-2144","catch_line":"Conveyance or encumbrance of the cooperative","url":"\/55.1-2144\/","token":"55.1\/IV\/21\/3\/55.1-2144","metadata":false},{"id":80965,"structure_id":15093,"section_number":"55.1-2145","catch_line":"Insurance","url":"\/55.1-2145\/","token":"55.1\/IV\/21\/3\/55.1-2145","metadata":false},{"id":86773,"structure_id":15093,"section_number":"55.1-2146","catch_line":"Assessments for common expenses","url":"\/55.1-2146\/","token":"55.1\/IV\/21\/3\/55.1-2146","metadata":false},{"id":64409,"structure_id":15093,"section_number":"55.1-2147","catch_line":"Annual budget; reserves for capital components","url":"\/55.1-2147\/","token":"55.1\/IV\/21\/3\/55.1-2147","metadata":false},{"id":60916,"structure_id":15093,"section_number":"55.1-2148","catch_line":"Remedies for nonpayment of assessments; lien; foreclosure","url":"\/55.1-2148\/","token":"55.1\/IV\/21\/3\/55.1-2148","metadata":false},{"id":83139,"structure_id":15093,"section_number":"55.1-2149","catch_line":"Other liens affecting the cooperative","url":"\/55.1-2149\/","token":"55.1\/IV\/21\/3\/55.1-2149","metadata":false},{"id":78680,"structure_id":15093,"section_number":"55.1-2150","catch_line":"Limitation of assumption of debt and encumbrances","url":"\/55.1-2150\/","token":"55.1\/IV\/21\/3\/55.1-2150","metadata":false},{"id":61430,"structure_id":15093,"section_number":"55.1-2151","catch_line":"Association records","url":"\/55.1-2151\/","token":"55.1\/IV\/21\/3\/55.1-2151","metadata":false},{"id":74718,"structure_id":15093,"section_number":"55.1-2152","catch_line":"Association as trustee","url":"\/55.1-2152\/","token":"55.1\/IV\/21\/3\/55.1-2152","metadata":false}],"previous_section":{"id":63917,"structure_id":15093,"section_number":"55.1-2143","catch_line":"Tort and contract liability","url":"\/55.1-2143\/","token":"55.1\/IV\/21\/3\/55.1-2143","metadata":false},"next_section":{"id":80965,"structure_id":15093,"section_number":"55.1-2145","catch_line":"Insurance","url":"\/55.1-2145\/","token":"55.1\/IV\/21\/3\/55.1-2145","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2144\/","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":58552,"section_number":"55.1-2130","catch_line":"Master associations","order_by":null,"url":"\/55.1-2130\/"},{"id":74016,"section_number":"55.1-2133","catch_line":"Powers of the association","order_by":null,"url":"\/55.1-2133\/"}],"refers_to":[{"id":79915,"section_number":"55.1-2128","catch_line":"Termination of cooperative ownership","order_by":null,"url":"\/55.1-2128\/"}],"permalink":{"id":247301,"object_type":"law","relational_id":83581,"identifier":"55.1-2144","token":"55.1\/IV\/21\/3\/55.1-2144","url":"\/55.1-2144\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2144\/","token":"55.1\/IV\/21\/3\/55.1-2144","dublin_core":{"Title":"Conveyance or encumbrance of the cooperative","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2144","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Part of the cooperative may be conveyed, and all or part of the cooperative may be subjected to a security interest<\/span>, by the association<\/span> if persons<\/span> entitled to cast at least 80 percent of the votes in the association<\/span>, including a simple majority of the votes allocated to cooperative interests<\/span> not owned by a declarant<\/span>, or any larger percentage the declaration<\/span> specifies, agree to that action. If fewer than all the units<\/span> or limited common elements<\/span> are to be conveyed or subjected to a security interest<\/span>, then all the proprietary lessees<\/span> of those units<\/span>, or the units<\/span> to which those limited common elements<\/span> are allocated, must agree in order<\/span> to convey those units<\/span> or limited common elements<\/span> or subject them to a security interest<\/span>. The declaration<\/span> may specify a smaller percentage only if all of the units<\/span> are restricted exclusively to nonresidential uses. Proceeds of the sale are an asset of the association<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> An agreement to convey a part of the cooperative or subject it to a security interest<\/span> must be evidenced by the execution of an agreement, or ratifications of such an agreement, in the same manner as a deed, by the requisite number of proprietary lessees<\/span>. The agreement must specify a date after which the agreement will be void unless recorded before that date. The agreement and such ratifications must be recorded in every county or city in which a portion of the cooperative is situated and is effective only upon recordation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The association<\/span>, on behalf of the proprietary lessees<\/span>, may contract<\/span> to convey a part of the cooperative or subject it to a security interest<\/span>, but the contract<\/span> is not enforceable against the association<\/span> until approved pursuant to subsections A and B. After such approval, the association<\/span> has all powers necessary and appropriate to effect the conveyance or encumbrance including the power to execute deeds or other instruments. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Any purported conveyance, encumbrance, or other voluntary transfer<\/span> of the cooperative, unless made pursuant to this section or pursuant to subsection C of § 55.1-2128<\/a>, is void. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> A conveyance or encumbrance of the cooperative pursuant to this section does not deprive any unit<\/span> of its rights of access and support. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONVEYANCE OR ENCUMBRANCE OF THE COOPERATIVE (\u00a7 55.1-2144)\n\nA. Part of the cooperative may be conveyed, and all or part of the cooperative\nmay be subjected to a security interest, by the association if persons entitled\nto cast at least 80 percent of the votes in the association, including a simple\nmajority of the votes allocated to cooperative interests not owned by a\ndeclarant, or any larger percentage the declaration specifies, agree to that\naction. If fewer than all the units or limited common elements are to be\nconveyed or subjected to a security interest, then all the proprietary lessees\nof those units, or the units to which those limited common elements are\nallocated, must agree in order to convey those units or limited common elements\nor subject them to a security interest. The declaration may specify a smaller\npercentage only if all of the units are restricted exclusively to nonresidential\nuses. Proceeds of the sale are an asset of the association.\n\nB. An agreement to convey a part of the cooperative or subject it to a security\ninterest must be evidenced by the execution of an agreement, or ratifications of\nsuch an agreement, in the same manner as a deed, by the requisite number of\nproprietary lessees. The agreement must specify a date after which the agreement\nwill be void unless recorded before that date. The agreement and such\nratifications must be recorded in every county or city in which a portion of the\ncooperative is situated and is effective only upon recordation.\n\nC. The association, on behalf of the proprietary lessees, may contract to convey\na part of the cooperative or subject it to a security interest, but the contract\nis not enforceable against the association until approved pursuant to\nsubsections A and B. After such approval, the association has all powers\nnecessary and appropriate to effect the conveyance or encumbrance including the\npower to execute deeds or other instruments.\n\nD. Any purported conveyance, encumbrance, or other voluntary transfer of the\ncooperative, unless made pursuant to this section or pursuant to subsection C of\n§ 55.1-2128, is void.\n\nE. A conveyance or encumbrance of the cooperative pursuant to this section does\nnot deprive any unit of its rights of access and support.\n\nHISTORY: 1982, c. 277, \u00a7 55-469; 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}}