                                 CODE OF VIRGINIA

CONVERSION OF CONVERTIBLE SPACES (§ 55.1-1925)

A. The declarant may convert all or any portion of any convertible space into
one or more units or common elements, including limited common elements, subject
to any restrictions and limitations that the condominium instruments may
specify. Any such conversion shall be deemed to have occurred at the time of the
recordation of appropriate instruments pursuant to subsection B and subsection E
of &#xA7; 55.1-1920.

B. Simultaneously with the recording of plats and plans pursuant to subsection E
of &#xA7; 55.1-1920, the declarant shall prepare, execute, and record an
amendment to the declaration describing the conversion. Such amendment shall
assign an identifying number to each unit formed out of a convertible space and
shall allocate to each unit a portion of the undivided interest in the common
elements appertaining to that space. Such amendment shall describe or delineate
any limited common elements formed out of the convertible space, showing or
designating the unit to which each is assigned.

C. If all or any portion of any convertible space is converted into one or more
units in accordance with this section, the declarant shall prepare and execute,
and record simultaneously with the amendment to the declaration, an amendment to
the bylaws. The amendment to the bylaws shall reallocate votes in the unit
owners&#8217; association, rights to future common profits, and liabilities for
future common expenses not specially assessed, all as in the case of the
subdivision of a unit in accordance with subsection D of &#xA7; 55.1-1933.

D. Any convertible space not converted in accordance with the provisions of this
section, or any portion of such convertible space not so converted, shall be
treated for all purposes as a single unit until and unless it is so converted,
and the provisions of this chapter shall be deemed applicable to any such
convertible space, or portion of such convertible space, as though the same were
a unit.

HISTORY: 1974, c. 416, § 55-79.62; 1999, c. 560; 2019, c. 712.