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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>56010</law_id><section_number>55.1-2301</section_number><catch_line>Exemptions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="55.1">Property and Conveyances</unit><unit label="subtitle" level="2" order_by="1" identifier="IV">Common Interest Communities</unit><unit label="chapter" level="3" order_by="1" identifier="23">Subdivided Land Sales Act</unit></structure><text>
						<section><p>Unless the method of <span class="dictionary">disposition</span> is adopted for the purposes of evasion of this chapter, the provisions of this chapter shall not apply to:</p></section>
						<section id="1"><p><span class="prefix-number">1.</span> The <span class="dictionary">sale</span> of a subdivision to a single <span class="dictionary">purchaser</span> for his own account in a single or isolated transaction; <a id="paragraph-205272" class="section-permalink" href="https://vacode.org/55.1-2301/#1"><i class="fa fa-link"/></a></p></section>
						<section id="2"><p><span class="prefix-number">2.</span> The <span class="dictionary">disposition</span> of <span class="dictionary">lots</span> in a subdivision if each <span class="dictionary">lot</span> in the subdivision is at least five acres in size; <a id="paragraph-205273" class="section-permalink" href="https://vacode.org/55.1-2301/#2"><i class="fa fa-link"/></a></p></section>
						<section id="3"><p><span class="prefix-number">3.</span> The <span class="dictionary">disposition</span> of a <span class="dictionary">lot</span> on which there is a residential, commercial, or industrial building, or as to a <span class="dictionary">lot</span> upon which there is a legal obligation on the part of the seller to construct such a building within a period of two years from the date of <span class="dictionary">disposition</span>; <a id="paragraph-205274" class="section-permalink" href="https://vacode.org/55.1-2301/#3"><i class="fa fa-link"/></a></p></section>
						<section id="4"><p><span class="prefix-number">4.</span> The <span class="dictionary">disposition</span> of land pursuant to <span class="dictionary">court order</span>, provided that the court reviews and approves the <span class="dictionary">disposition</span> on an individual basis; <a id="paragraph-205275" class="section-permalink" href="https://vacode.org/55.1-2301/#4"><i class="fa fa-link"/></a></p></section>
						<section id="5"><p><span class="prefix-number">5.</span> The <span class="dictionary">disposition</span> of cemetery <span class="dictionary">lots</span>; <a id="paragraph-205276" class="section-permalink" href="https://vacode.org/55.1-2301/#5"><i class="fa fa-link"/></a></p></section>
						<section id="6"><p><span class="prefix-number">6.</span> <span class="dictionary">Offers</span> or <span class="dictionary">dispositions</span> of <span class="dictionary">evidence</span> of indebtedness secured by a mortgage or deed of trust on real estate; <a id="paragraph-205277" class="section-permalink" href="https://vacode.org/55.1-2301/#6"><i class="fa fa-link"/></a></p></section>
						<section id="7"><p><span class="prefix-number">7.</span> <span class="dictionary">Offers</span> or <span class="dictionary">dispositions</span> of securities or units of interest issued by a real estate investment trust regulated under any state or federal <span class="dictionary">statute</span>; <a id="paragraph-205278" class="section-permalink" href="https://vacode.org/55.1-2301/#7"><i class="fa fa-link"/></a></p></section>
						<section id="8"><p><span class="prefix-number">8.</span> <span class="dictionary">Offers</span> or <span class="dictionary">dispositions</span> of any interest in real estate, oil, gas, or other minerals or any royalty interest in such real estate, oil, gas, or other minerals if the <span class="dictionary">offers</span> or <span class="dictionary">dispositions</span> of such interests are regulated as securities by the United States or by the Commonwealth; <a id="paragraph-205279" class="section-permalink" href="https://vacode.org/55.1-2301/#8"><i class="fa fa-link"/></a></p></section>
						<section id="9"><p><span class="prefix-number">9.</span> The <span class="dictionary">disposition</span> of a <span class="dictionary">lot</span> to any <span class="dictionary">person</span> whose purpose in acquiring the land is to engage in the business of constructing residential, commercial, or industrial buildings on such land; <a id="paragraph-205280" class="section-permalink" href="https://vacode.org/55.1-2301/#9"><i class="fa fa-link"/></a></p></section>
						<section id="10"><p><span class="prefix-number">10.</span> The lease of a <span class="dictionary">lot</span> where the right to <span class="dictionary">possession</span> or the rental term does not exceed one year in the aggregate and where the conditions of the lease do not obligate the lessee to renew; <a id="paragraph-205281" class="section-permalink" href="https://vacode.org/55.1-2301/#10"><i class="fa fa-link"/></a></p></section>
						<section id="11"><p><span class="prefix-number">11.</span> The <span class="dictionary">sale</span> or lease of condominium units registered pursuant to the Virginia Condominium Act (&#xA7; <a class="law" title="Definitions" href="/55.1-1900/">55.1-1900</a> et seq.); or <a id="paragraph-205282" class="section-permalink" href="https://vacode.org/55.1-2301/#11"><i class="fa fa-link"/></a></p></section>
						<section id="12"><p><span class="prefix-number">12.</span> The <span class="dictionary">disposition</span> of real estate that is zoned or otherwise designated by the appropriate governmental authority for, or restricted by a valid recorded declaration of covenants to, commercial or industrial use. <a id="paragraph-205283" class="section-permalink" href="https://vacode.org/55.1-2301/#12"><i class="fa fa-link"/></a></p></section></text><history>1978, c. 510, &#xA7; 55-338; 1980, c. 546; 2019, c. 712.</history><metadata></metadata></law>
