                                 CODE OF VIRGINIA

NOTIFICATION PRIOR TO SALE OR TRANSFER OF OWNERSHIP OF CERTAIN HISTORIC
PROPERTIES (§ 15.2-944.1)

A. Any charitable or civic organization or museum that (i) has been granted tax
exempt status under &#xA7; 501(c)(3) of the Internal Revenue Code; (ii) owns
real property that is designated as historic under a local zoning ordinance or
meets the criteria for a historic area under &#xA7; 15.2-2201; and (iii) is
operating that property as a historic attraction open to the public for
interpretation for more than 100 days per year, shall notify in writing the
locality&#8217;s chief administrative officer, the Department of Historic
Resources, and the Office of Attorney General of its intent to sell or transfer
ownership of such property.

B. Such notification shall be provided at least ninety days prior to the public
offering for sale of such property, or if no public offering is made, at least
ninety days prior to the acceptance of a purchase offer for such property.

C. The notification required pursuant to subsection A shall be waived where (i)
only a portion of the property is sold or transferred and the portion that is
not sold or transferred remains open to the public at least 100 days a year;
(ii) the property is being transferred to another owner who has been granted tax
exempt status under &#xA7; 501(c)(3) of the Internal Revenue Code and the
property remains open to the public at least 100 days a year; or (iii) an
easement, right-of-way, or leasehold interest in the property is being sold or
transferred and the property remains open to the public at least 100 days a
year.

D. Failure to provide the notification required by this section shall not be the
basis for invalidation of any sale, but may subject the terms of the sale to
special review by the locality or the Attorney General to ensure that such sale
has not resulted in a violation of any public law or charitable trust obligation
by the transferring organization or entity.

HISTORY: 2001, c. 780.