                                 CODE OF VIRGINIA

EXEMPTIONS (§ 55.1-2317)

A. The resale certificate required by this chapter need not be provided in the
case of:

   1. An initial disposition of a unit to a person or entity that is not
   acquiring the unit for his own residence or for the construction of a dwelling
   unit to be occupied as his own residence, unless requested by such person or
   entity. The person or entity acquiring the unit shall nevertheless be
   obligated to abide by the declaration, bylaws, rules and regulations, and
   architectural guidelines of the association as to all matters;

   2. A disposition of a unit by gift;

   3. A disposition of a unit pursuant to court order if the court so directs;

   4. A disposition of a unit by foreclosure or deed in lieu of foreclosure;

   5. A disposition of a unit by a sale at auction, when the resale certificate
   was made available as part of the auction package for prospective purchasers
   prior to the auction; or

   6. A disposition of a unit in a common interest community containing no
   residential units.

B. In any transaction in which a resale certificate is required and a trustee
acts as the seller in the sale or resale of a unit, the trustee shall obtain the
resale certificate from the association and provide the resale certificate to
the purchaser.

HISTORY: 2023, cc. 387, 388; 2024, cc. 54, 511.