                                 CODE OF VIRGINIA

EMINENT DOMAIN (§ 55.1-2105)

A. If a unit is acquired by eminent domain, or if part of a unit is acquired by
eminent domain leaving the proprietary lessee with a remnant that may not
practically or lawfully be used for any purpose permitted by the declaration,
the award for such unit shall include compensation to the proprietary lessee for
the value of his cooperative interest. Upon acquisition, unless the order
otherwise provides, that cooperative interest&#8217;s allocated interests are
automatically reallocated to the remaining cooperative interests in proportion
to the respective allocated interests of those cooperative interests before the
taking, and the association shall promptly prepare, execute, and record an
amendment to the declaration reflecting the reallocations. Any remnant of a unit
remaining after part of a unit is taken under this subsection is thereafter a
common element.

B. Except as provided in subsection A, if part of a unit is acquired by eminent
domain, the award for such unit shall compensate the proprietary lessee for the
reduction in value of his cooperative interest. Unless the order provides
otherwise, upon acquisition (i) that cooperative interest&#8217;s allocated
interests are reduced in proportion to the reduction in the size of the unit, or
on any other basis specified in the declaration, and (ii) the portion of the
allocated interests divested from the cooperative interest of which the
partially acquired unit is a part is automatically reallocated to that
cooperative interest and the remaining units in proportion to the respective
allocated interests of those cooperative interests before the taking, with the
cooperative interest of which the partially acquired unit is a part
participating in the reallocation on the basis of its reduced allocated
interests.

C. If part of the common elements is acquired by eminent domain, the portion of
the award attributable to the common elements taken shall be paid to the
association. Unless the declaration provides otherwise, any portion of the award
attributable to the acquisition of a limited common element shall be equally
divided among the proprietary lessees of the units to which that limited common
element was allocated at the time of acquisition.

D. The court order shall be recorded in every county or city in which any
portion of the cooperative is located.

HISTORY: 1982, c. 277, § 55-430; 2019, c. 712.