{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2148.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2148.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2148.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2148.html"}],"law_id":60916,"edition_id":1,"section_id":60916,"structure_id":15093,"section_number":"55.1-2148","catch_line":"Remedies for nonpayment of assessments; lien; foreclosure","history":"1982, c. 277, \u00a7 55-472; 1990, c. 831; 2019, c. 712; 2024, cc. 55, 349.","full_text":"A\n\nThe association has a lien on a cooperative interest for any assessment levied against that cooperative interest or fines imposed against its owner from the time the assessment or fines become due. Unless the declaration otherwise provides, fees, charges, late charges, fines, and interest charged pursuant to subdivisions A 11 and 12 of § 55.1-2133 are enforceable as assessments under this section. If an assessment is payable in installments, the full amount of the assessment is a lien from the time the first installment becomes due. Upon nonpayment of the assessment, the proprietary lessee may be evicted in the same manner as provided by law in the case of an unlawful holdover by a commercial tenant, and the lien may be foreclosed as provided by this section. The association’s lien may be foreclosed (i) by judicial sale in like manner as a mortgage on real estate or (ii) by power of sale as provided in subsection I.B\n\nA lien under this section is prior to all other liens and encumbrances on a cooperative interest except (i) liens and encumbrances on the cooperative that the association creates, assumes, or takes subject to; (ii) any first security interest encumbering only the cooperative interest of a proprietary lessee and perfected before the date on which the assessment sought to be enforced became delinquent; and (iii) liens for real estate taxes and other governmental assessments or charges against the cooperative or the cooperative interest. The lien is also prior to the security interests described in clause (ii) to the extent of the common expense assessments based on the periodic budget adopted by the association pursuant to subsection A of § 55.1-2133 that would have become due in the absence of acceleration during the six months immediately preceding institution of an action to enforce the lien. This subsection does not affect the priority of mechanics’ or materialmen’s liens or the priority of liens for other assessments made by the association. The lien under this section is not subject to homestead or other exemptions.C\n\nUnless the declaration otherwise provides, if two or more associations have liens for assessments created at any time on the same property, those liens have equal priority.D\n\nRecording of the declaration constitutes record notice and perfection of the lien. No further recordation or filing of any claim of lien for assessment under this section is required.E\n\nA lien for unpaid assessments is extinguished unless proceedings to enforce the lien are instituted within 120 months after the full amount of the assessment becomes due.F\n\nThis section does not prohibit actions to recover sums for which subsection A creates a lien or prohibit an association from taking a transfer in lieu of foreclosure.G\n\nA judgment in any action brought under this section shall include costs and reasonable attorney fees for the prevailing party.H\n\nUpon written request, the association shall furnish to a proprietary lessee a statement setting forth the amount of unpaid assessments against his cooperative interest. The statement shall be in recordable form. The statement shall be furnished within 10 business days after receipt of the request and is binding on the association, the executive board, and every proprietary lessee.I\n\nThe association may conduct a judicial or nonjudicial foreclosure sale of the cooperative interest against which the association has perfected one or more liens pursuant to this section if the total sums secured are in excess of $5,000, exclusive of attorney fees and costs. Sale may be at a public sale or by private negotiation and at any time and place, but every aspect of the sale, including the method, advertising, time, place, and terms, must be reasonable. The association shall give to the proprietary lessee and any sublessees of the proprietary lessee reasonable written notice of the time and place of any public sale or, if a private sale is intended, of the intention of entering into a contract to sell and of the time after which a private disposition may be made. The same notice must also be sent to any other person who has a recorded interest in the cooperative interest that would be cut off by the sale, but only if the interest was on record seven weeks before the date specified in the notice as the date of any public sale or seven weeks before the date specified in the notice as the date after which a private sale may be made. The notices required by this subsection may be sent to any address reasonable in the circumstances. Sale may not be held until five weeks after the sending of the notice. The association may buy at any public sale and, if the sale is conducted by a fiduciary or other person not related to the association, at a private sale.J\n\nThe proceeds of a sale under subsection I shall be applied in the following order:1\n\nThe reasonable expenses of sale;2\n\nThe reasonable expenses of securing possession before sale; holding, maintaining, and preparing the cooperative interest for sale, including payment of taxes and other governmental charges, premiums on hazard and liability insurance, and, to the extent provided for by agreement between the association and the proprietary lessee, reasonable attorney fees and other legal expenses incurred by the association;3\n\nSatisfaction in the order of priority of any prior claims of record;4\n\nSatisfaction of the association’s lien;5\n\nSatisfaction in the order of priority of any subordinate claim of record; and6\n\nRemittance of any excess to the proprietary lessee. Unless otherwise agreed, the proprietary lessee is liable for any deficiency.K\n\nIf a cooperative interest is sold under subsection I, a good faith purchaser for value acquires the proprietary lessee’s interest in the cooperative interest free of the association’s debt that gave rise to the lien under which the sale occurred and any subordinate interest, even though the association or other person conducting the sale failed to comply with the requirements of this section. The person conducting the sale under subsection I shall execute a conveyance to the purchaser sufficient to convey the cooperative interest that states that the conveyance is executed by him, after a foreclosure by power of sale of the association’s lien and that he has power to make the sale. Signature and title or authority of the person signing the conveyance as grantor and a recital of the facts of nonpayment of the assessment and of the giving of the notices required by subsection I are sufficient proof of the facts recited and of his authority to sign. Further proof of authority is not required even though the association is named as grantee in the conveyance.L\n\nAt any time before the association has disposed of the cooperative interest or entered into a contract for its disposition under the power of sale, the proprietary lessee or the holder of any subordinate security interest may cure the proprietary lessee’s default and prevent sale or other disposition by tendering the performance due under the security agreement, including any amounts due because of exercise of a right to accelerate, plus the reasonable expenses of proceeding to foreclosure incurred to the time of tender, including reasonable attorney fees of the creditor.","order_by":null,"text":{"0":{"id":222806,"text":"The association has a lien on a cooperative interest for any assessment levied against that cooperative interest or fines imposed against its owner from the time the assessment or fines become due. Unless the declaration otherwise provides, fees, charges, late charges, fines, and interest charged pursuant to subdivisions A 11 and 12 of § 55.1-2133 are enforceable as assessments under this section. If an assessment is payable in installments, the full amount of the assessment is a lien from the time the first installment becomes due. Upon nonpayment of the assessment, the proprietary lessee may be evicted in the same manner as provided by law in the case of an unlawful holdover by a commercial tenant, and the lien may be foreclosed as provided by this section. The association’s lien may be foreclosed (i) by judicial sale in like manner as a mortgage on real estate or (ii) by power of sale as provided in subsection I.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":222807,"text":"A lien under this section is prior to all other liens and encumbrances on a cooperative interest except (i) liens and encumbrances on the cooperative that the association creates, assumes, or takes subject to; (ii) any first security interest encumbering only the cooperative interest of a proprietary lessee and perfected before the date on which the assessment sought to be enforced became delinquent; and (iii) liens for real estate taxes and other governmental assessments or charges against the cooperative or the cooperative interest. The lien is also prior to the security interests described in clause (ii) to the extent of the common expense assessments based on the periodic budget adopted by the association pursuant to subsection A of § 55.1-2133 that would have become due in the absence of acceleration during the six months immediately preceding institution of an action to enforce the lien. This subsection does not affect the priority of mechanics’ or materialmen’s liens or the priority of liens for other assessments made by the association. The lien under this section is not subject to homestead or other exemptions.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":222808,"text":"Unless the declaration otherwise provides, if two or more associations have liens for assessments created at any time on the same property, those liens have equal priority.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":222809,"text":"Recording of the declaration constitutes record notice and perfection of the lien. No further recordation or filing of any claim of lien for assessment under this section is required.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":222810,"text":"A lien for unpaid assessments is extinguished unless proceedings to enforce the lien are instituted within 120 months after the full amount of the assessment becomes due.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":222811,"text":"This section does not prohibit actions to recover sums for which subsection A creates a lien or prohibit an association from taking a transfer in lieu of foreclosure.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E","next_prefix":"G"},"6":{"id":222812,"text":"A judgment in any action brought under this section shall include costs and reasonable attorney fees for the prevailing party.","type":"section","prefixes":["G"],"prefix":"G","entire_prefix":"G","prefix_anchor":"G","level":1,"prior_prefix":"F","next_prefix":"H"},"7":{"id":222813,"text":"Upon written request, the association shall furnish to a proprietary lessee a statement setting forth the amount of unpaid assessments against his cooperative interest. The statement shall be in recordable form. The statement shall be furnished within 10 business days after receipt of the request and is binding on the association, the executive board, and every proprietary lessee.","type":"section","prefixes":["H"],"prefix":"H","entire_prefix":"H","prefix_anchor":"H","level":1,"prior_prefix":"G","next_prefix":"I"},"8":{"id":222814,"text":"The association may conduct a judicial or nonjudicial foreclosure sale of the cooperative interest against which the association has perfected one or more liens pursuant to this section if the total sums secured are in excess of $5,000, exclusive of attorney fees and costs. Sale may be at a public sale or by private negotiation and at any time and place, but every aspect of the sale, including the method, advertising, time, place, and terms, must be reasonable. The association shall give to the proprietary lessee and any sublessees of the proprietary lessee reasonable written notice of the time and place of any public sale or, if a private sale is intended, of the intention of entering into a contract to sell and of the time after which a private disposition may be made. The same notice must also be sent to any other person who has a recorded interest in the cooperative interest that would be cut off by the sale, but only if the interest was on record seven weeks before the date specified in the notice as the date of any public sale or seven weeks before the date specified in the notice as the date after which a private sale may be made. The notices required by this subsection may be sent to any address reasonable in the circumstances. Sale may not be held until five weeks after the sending of the notice. The association may buy at any public sale and, if the sale is conducted by a fiduciary or other person not related to the association, at a private sale.","type":"section","prefixes":["I"],"prefix":"I","entire_prefix":"I","prefix_anchor":"I","level":1,"prior_prefix":"H","next_prefix":"J"},"9":{"id":222815,"text":"The proceeds of a sale under subsection I shall be applied in the following order:","type":"section","prefixes":["J"],"prefix":"J","entire_prefix":"J","prefix_anchor":"J","level":1,"prior_prefix":"I","next_prefix":"J1"},"10":{"id":222816,"text":"The reasonable expenses of sale;","type":"section","prefixes":["J","1"],"prefix":"1","entire_prefix":"J1","prefix_anchor":"J1","level":2,"prior_prefix":"J","next_prefix":"J2"},"11":{"id":222817,"text":"The reasonable expenses of securing possession before sale; holding, maintaining, and preparing the cooperative interest for sale, including payment of taxes and other governmental charges, premiums on hazard and liability insurance, and, to the extent provided for by agreement between the association and the proprietary lessee, reasonable attorney fees and other legal expenses incurred by the association;","type":"section","prefixes":["J","2"],"prefix":"2","entire_prefix":"J2","prefix_anchor":"J2","level":2,"prior_prefix":"J1","next_prefix":"J3"},"12":{"id":222818,"text":"Satisfaction in the order of priority of any prior claims of record;","type":"section","prefixes":["J","3"],"prefix":"3","entire_prefix":"J3","prefix_anchor":"J3","level":2,"prior_prefix":"J2","next_prefix":"J4"},"13":{"id":222819,"text":"Satisfaction of the association’s lien;","type":"section","prefixes":["J","4"],"prefix":"4","entire_prefix":"J4","prefix_anchor":"J4","level":2,"prior_prefix":"J3","next_prefix":"J5"},"14":{"id":222820,"text":"Satisfaction in the order of priority of any subordinate claim of record; and","type":"section","prefixes":["J","5"],"prefix":"5","entire_prefix":"J5","prefix_anchor":"J5","level":2,"prior_prefix":"J4","next_prefix":"J6"},"15":{"id":222821,"text":"Remittance of any excess to the proprietary lessee. Unless otherwise agreed, the proprietary lessee is liable for any deficiency.","type":"section","prefixes":["J","6"],"prefix":"6","entire_prefix":"J6","prefix_anchor":"J6","level":2,"prior_prefix":"J5","next_prefix":"K"},"16":{"id":222822,"text":"If a cooperative interest is sold under subsection I, a good faith purchaser for value acquires the proprietary lessee’s interest in the cooperative interest free of the association’s debt that gave rise to the lien under which the sale occurred and any subordinate interest, even though the association or other person conducting the sale failed to comply with the requirements of this section. The person conducting the sale under subsection I shall execute a conveyance to the purchaser sufficient to convey the cooperative interest that states that the conveyance is executed by him, after a foreclosure by power of sale of the association’s lien and that he has power to make the sale. Signature and title or authority of the person signing the conveyance as grantor and a recital of the facts of nonpayment of the assessment and of the giving of the notices required by subsection I are sufficient proof of the facts recited and of his authority to sign. Further proof of authority is not required even though the association is named as grantee in the conveyance.","type":"section","prefixes":["K"],"prefix":"K","entire_prefix":"K","prefix_anchor":"K","level":1,"prior_prefix":"J6","next_prefix":"L"},"17":{"id":222823,"text":"At any time before the association has disposed of the cooperative interest or entered into a contract for its disposition under the power of sale, the proprietary lessee or the holder of any subordinate security interest may cure the proprietary lessee’s default and prevent sale or other disposition by tendering the performance due under the security agreement, including any amounts due because of exercise of a right to accelerate, plus the reasonable expenses of proceeding to foreclosure incurred to the time of tender, including reasonable attorney fees of the creditor.","type":"section","prefixes":["L"],"prefix":"L","entire_prefix":"L","prefix_anchor":"L","level":1,"prior_prefix":"K"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2148\/","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 3 times. 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. Those modifications are as follows: in 1990, chapter 831; in 2019, chapter 712<\/a>; in 2024, chapters 55<\/a> and 349<\/a>.<\/p>","references":[{"id":80253,"section_number":"55.1-2101","catch_line":"Applicability","order_by":null,"url":"\/55.1-2101\/"},{"id":82152,"section_number":"55.1-321","catch_line":"Notices required before sale by trustee to owners, lienors, etc.; if note lost","order_by":null,"url":"\/55.1-321\/"}],"refers_to":[{"id":74016,"section_number":"55.1-2133","catch_line":"Powers of the association","order_by":null,"url":"\/55.1-2133\/"}],"permalink":{"id":247317,"object_type":"law","relational_id":60916,"identifier":"55.1-2148","token":"55.1\/IV\/21\/3\/55.1-2148","url":"\/55.1-2148\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2148\/","token":"55.1\/IV\/21\/3\/55.1-2148","dublin_core":{"Title":"Remedies for nonpayment of assessments; lien; foreclosure","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2148","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The association<\/span> has a lien<\/span> on a cooperative interest<\/span> for any assessment levied against that cooperative interest<\/span> or fines imposed against its owner from the time the assessment or fines become due. Unless the declaration<\/span> otherwise provides, fees, charges, late charges, fines, and interest charged pursuant to subdivisions A 11 and 12 of § 55.1-2133<\/a> are enforceable as assessments under this section. If an assessment is payable in installments, the full amount of the assessment is a lien<\/span> from the time the first installment becomes due. Upon nonpayment of the assessment, the proprietary lessee<\/span> may be evicted in the same manner as provided by law<\/span> in the case of an unlawful holdover by a commercial tenant, and the lien<\/span> may be foreclosed as provided by this section. The association<\/span>’s lien<\/span> may be foreclosed (i) by judicial sale in like manner as a mortgage on real estate<\/span> or (ii) by power of sale as provided in subsection I. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> A lien<\/span> under this section is prior to all other liens<\/span> and encumbrances on a cooperative interest<\/span> except (i) liens<\/span> and encumbrances on the cooperative that the association<\/span> creates, assumes, or takes subject to; (ii) any first security interest<\/span> encumbering only the cooperative interest<\/span> of a proprietary lessee<\/span> and perfected before the date on which the assessment sought to be enforced became delinquent; and (iii) liens<\/span> for real estate<\/span> taxes and other governmental assessments or charges against the cooperative or the cooperative interest<\/span>. The lien<\/span> is also prior to the security interests<\/span> described in clause (ii) to the extent of the common expense assessments based on the periodic budget adopted by the association<\/span> pursuant to subsection A of § 55.1-2133<\/a> that would have become due in the absence of acceleration during the six months immediately preceding institution of an action to enforce the lien<\/span>. This subsection does not affect the priority of mechanics’ or materialmen’s liens<\/span> or the priority of liens<\/span> for other assessments made by the association<\/span>. The lien<\/span> under this section is not subject to homestead or other exemptions. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Unless the declaration<\/span> otherwise provides, if two or more associations<\/span> have liens<\/span> for assessments created at any time on the same property, those liens<\/span> have equal priority. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Recording of the declaration<\/span> constitutes record notice and perfection of the lien<\/span>. No further recordation or filing of any claim of lien<\/span> for assessment under this section is required. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> A lien<\/span> for unpaid assessments is extinguished unless proceedings to enforce the lien<\/span> are instituted within 120 months after the full amount of the assessment becomes due. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> This section does not prohibit actions to recover sums for which subsection A creates a lien<\/span> or prohibit an association<\/span> from taking a transfer in lieu of foreclosure. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

G.<\/span> A judgment<\/span> in any action brought under this section shall include costs and reasonable attorney fees for the prevailing party<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

H.<\/span> Upon written request, the association<\/span> shall furnish to a proprietary lessee<\/span> a statement setting forth the amount of unpaid assessments against his cooperative interest<\/span>. The statement shall be in recordable form. The statement shall be furnished within 10 business days after receipt of the request and is binding on the association<\/span>, the executive board<\/span>, and every proprietary lessee<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

I.<\/span> The association<\/span> may conduct a judicial or nonjudicial foreclosure sale of the cooperative interest<\/span> against which the association<\/span> has perfected one or more liens<\/span> pursuant to this section if the total sums secured are in excess of $5,000, exclusive of attorney fees and costs. Sale may be at a public sale or by private negotiation and at any time and place, but every aspect of the sale, including the method, advertising, time, place, and terms, must be reasonable. The association<\/span> shall give to the proprietary lessee<\/span> and any sublessees of the proprietary lessee<\/span> reasonable written notice of the time and place of any public sale or, if a private sale is intended, of the intention of entering into a contract<\/span> to sell and of the time after which a private disposition<\/span> may be made. The same notice must also be sent to any other person<\/span> who has a recorded interest in the cooperative interest<\/span> that would be cut off by the sale, but only if the interest was on record seven weeks before the date specified in the notice as the date of any public sale or seven weeks before the date specified in the notice as the date after which a private sale may be made. The notices required by this subsection may be sent to any address reasonable in the circumstances. Sale may not be held until five weeks after the sending of the notice. The association<\/span> may buy at any public sale and, if the sale is conducted by a fiduciary or other person<\/span> not related to the association<\/span>, at a private sale. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

J.<\/span> The proceeds of a sale under subsection I shall be applied in the following order<\/span>: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The reasonable expenses of sale; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The reasonable expenses of securing possession<\/span> before sale; holding, maintaining, and preparing the cooperative interest<\/span> for sale, including payment of taxes and other governmental charges, premiums on hazard and liability insurance, and, to the extent provided for by agreement between the association<\/span> and the proprietary lessee<\/span>, reasonable attorney fees and other legal expenses incurred by the association<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Satisfaction in the order<\/span> of priority of any prior claims of record; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Satisfaction of the association<\/span>’s lien<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Satisfaction in the order<\/span> of priority of any subordinate claim of record; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Remittance of any excess to the proprietary lessee<\/span>. Unless otherwise agreed, the proprietary lessee<\/span> is liable for any deficiency. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

K.<\/span> If a cooperative interest<\/span> is sold under subsection I, a good faith purchaser<\/span> for value acquires the proprietary lessee<\/span>’s interest in the cooperative interest<\/span> free of the association<\/span>’s debt that gave rise to the lien<\/span> under which the sale occurred and any subordinate interest, even though the association<\/span> or other person<\/span> conducting the sale failed to comply with the requirements of this section. The person<\/span> conducting the sale under subsection I shall execute a conveyance to the purchaser<\/span> sufficient to convey the cooperative interest<\/span> that states that the conveyance is executed by him, after a foreclosure by power of sale of the association<\/span>’s lien<\/span> and that he has power to make the sale. Signature and title or authority of the person<\/span> signing the conveyance as grantor and a recital of the facts<\/span> of nonpayment of the assessment and of the giving of the notices required by subsection I are sufficient proof of the facts<\/span> recited and of his authority to sign. Further proof of authority is not required even though the association<\/span> is named as grantee in the conveyance. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

L.<\/span> At any time before the association<\/span> has disposed of the cooperative interest<\/span> or entered into a contract<\/span> for its disposition<\/span> under the power of sale, the proprietary lessee<\/span> or the holder of any subordinate security interest<\/span> may cure the proprietary lessee<\/span>’s default<\/span> and prevent sale or other disposition<\/span> by tendering the performance due under the security agreement, including any amounts due because of exercise of a right to accelerate, plus the reasonable expenses of proceeding to foreclosure incurred to the time of tender, including reasonable attorney fees of the creditor<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREMEDIES FOR NONPAYMENT OF ASSESSMENTS; LIEN; FORECLOSURE (\u00a7 55.1-2148)\n\nA. The association has a lien on a cooperative interest for any assessment\nlevied against that cooperative interest or fines imposed against its owner from\nthe time the assessment or fines become due. Unless the declaration otherwise\nprovides, fees, charges, late charges, fines, and interest charged pursuant to\nsubdivisions A 11 and 12 of § 55.1-2133 are enforceable as assessments\nunder this section. If an assessment is payable in installments, the full amount\nof the assessment is a lien from the time the first installment becomes due.\nUpon nonpayment of the assessment, the proprietary lessee may be evicted in the\nsame manner as provided by law in the case of an unlawful holdover by a\ncommercial tenant, and the lien may be foreclosed as provided by this section.\nThe association’s lien may be foreclosed (i) by judicial sale in like\nmanner as a mortgage on real estate or (ii) by power of sale as provided in\nsubsection I.\n\nB. A lien under this section is prior to all other liens and encumbrances on a\ncooperative interest except (i) liens and encumbrances on the cooperative that\nthe association creates, assumes, or takes subject to; (ii) any first security\ninterest encumbering only the cooperative interest of a proprietary lessee and\nperfected before the date on which the assessment sought to be enforced became\ndelinquent; and (iii) liens for real estate taxes and other governmental\nassessments or charges against the cooperative or the cooperative interest. The\nlien is also prior to the security interests described in clause (ii) to the\nextent of the common expense assessments based on the periodic budget adopted by\nthe association pursuant to subsection A of § 55.1-2133 that would have\nbecome due in the absence of acceleration during the six months immediately\npreceding institution of an action to enforce the lien. This subsection does not\naffect the priority of mechanics’ or materialmen’s liens or the\npriority of liens for other assessments made by the association. The lien under\nthis section is not subject to homestead or other exemptions.\n\nC. Unless the declaration otherwise provides, if two or more associations have\nliens for assessments created at any time on the same property, those liens have\nequal priority.\n\nD. Recording of the declaration constitutes record notice and perfection of the\nlien. No further recordation or filing of any claim of lien for assessment under\nthis section is required.\n\nE. A lien for unpaid assessments is extinguished unless proceedings to enforce\nthe lien are instituted within 120 months after the full amount of the\nassessment becomes due.\n\nF. This section does not prohibit actions to recover sums for which subsection A\ncreates a lien or prohibit an association from taking a transfer in lieu of\nforeclosure.\n\nG. A judgment in any action brought under this section shall include costs and\nreasonable attorney fees for the prevailing party.\n\nH. Upon written request, the association shall furnish to a proprietary lessee a\nstatement setting forth the amount of unpaid assessments against his cooperative\ninterest. The statement shall be in recordable form. The statement shall be\nfurnished within 10 business days after receipt of the request and is binding on\nthe association, the executive board, and every proprietary lessee.\n\nI. The association may conduct a judicial or nonjudicial foreclosure sale of the\ncooperative interest against which the association has perfected one or more\nliens pursuant to this section if the total sums secured are in excess of\n$5,000, exclusive of attorney fees and costs. Sale may be at a public sale or by\nprivate negotiation and at any time and place, but every aspect of the sale,\nincluding the method, advertising, time, place, and terms, must be reasonable.\nThe association shall give to the proprietary lessee and any sublessees of the\nproprietary lessee reasonable written notice of the time and place of any public\nsale or, if a private sale is intended, of the intention of entering into a\ncontract to sell and of the time after which a private disposition may be made.\nThe same notice must also be sent to any other person who has a recorded\ninterest in the cooperative interest that would be cut off by the sale, but only\nif the interest was on record seven weeks before the date specified in the\nnotice as the date of any public sale or seven weeks before the date specified\nin the notice as the date after which a private sale may be made. The notices\nrequired by this subsection may be sent to any address reasonable in the\ncircumstances. Sale may not be held until five weeks after the sending of the\nnotice. The association may buy at any public sale and, if the sale is conducted\nby a fiduciary or other person not related to the association, at a private\nsale.\n\nJ. The proceeds of a sale under subsection I shall be applied in the following\norder:\n\n 1. The reasonable expenses of sale;\n\n 2. The reasonable expenses of securing possession before sale; holding,\n maintaining, and preparing the cooperative interest for sale, including\n payment of taxes and other governmental charges, premiums on hazard and\n liability insurance, and, to the extent provided for by agreement between the\n association and the proprietary lessee, reasonable attorney fees and other\n legal expenses incurred by the association;\n\n 3. Satisfaction in the order of priority of any prior claims of record;\n\n 4. Satisfaction of the association’s lien;\n\n 5. Satisfaction in the order of priority of any subordinate claim of record;\n and\n\n 6. Remittance of any excess to the proprietary lessee. Unless otherwise\n agreed, the proprietary lessee is liable for any deficiency.\n\nK. If a cooperative interest is sold under subsection I, a good faith purchaser\nfor value acquires the proprietary lessee’s interest in the cooperative\ninterest free of the association’s debt that gave rise to the lien under\nwhich the sale occurred and any subordinate interest, even though the\nassociation or other person conducting the sale failed to comply with the\nrequirements of this section. The person conducting the sale under subsection I\nshall execute a conveyance to the purchaser sufficient to convey the cooperative\ninterest that states that the conveyance is executed by him, after a foreclosure\nby power of sale of the association’s lien and that he has power to make\nthe sale. Signature and title or authority of the person signing the conveyance\nas grantor and a recital of the facts of nonpayment of the assessment and of the\ngiving of the notices required by subsection I are sufficient proof of the facts\nrecited and of his authority to sign. Further proof of authority is not required\neven though the association is named as grantee in the conveyance.\n\nL. At any time before the association has disposed of the cooperative interest\nor entered into a contract for its disposition under the power of sale, the\nproprietary lessee or the holder of any subordinate security interest may cure\nthe proprietary lessee’s default and prevent sale or other disposition by\ntendering the performance due under the security agreement, including any\namounts due because of exercise of a right to accelerate, plus the reasonable\nexpenses of proceeding to foreclosure incurred to the time of tender, including\nreasonable attorney fees of the creditor.\n\nHISTORY: 1982, c. 277, \u00a7 55-472; 1990, c. 831; 2019, c. 712; 2024, cc. 55, 349.","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}}