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 § 55.1-1920.
B. Simultaneously with the recording of plats and plans pursuant to subsection E of § 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' 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 § 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.
1974, c. 416, § 55-79.62; 1999, c. 560; 2019, c. 712.
Structure Code of Virginia
Title 55.1 - Property and Conveyances
Chapter 19 - Virginia Condominium Act
§ 55.1-1901. Application and construction of chapter
§ 55.1-1902. Variation by agreement
§ 55.1-1903. Separate assessments, titles, and taxation
§ 55.1-1904. Association charges
§ 55.1-1907. How condominium may be created
§ 55.1-1909. Description of condominium units
§ 55.1-1910. Execution of condominium instruments
§ 55.1-1911. Recordation of condominium instruments
§ 55.1-1912. Construction of condominium instruments
§ 55.1-1913. Complementarity of condominium instruments; controlling construction
§ 55.1-1914. Validity of condominium instruments; discrimination prohibited
§ 55.1-1915. Compliance with condominium instruments
§ 55.1-1916. Contents of declaration
§ 55.1-1917. Allocation of interests in the common elements
§ 55.1-1918. Reallocation of interests in common elements
§ 55.1-1919. Assignments of limited common elements; conversion to common element
§ 55.1-1920. Contents of plats and plans
§ 55.1-1921. Bond to insure completion of improvements
§ 55.1-1922. Preliminary recordation of plats and plans
§ 55.1-1923. Easement for encroachments
§ 55.1-1924. Conversion of convertible lands
§ 55.1-1925. Conversion of convertible spaces
§ 55.1-1926. Expansion of condominium
§ 55.1-1927. Contraction of condominium
§ 55.1-1928. Easement to facilitate conversion and expansion
§ 55.1-1929. Easement to facilitate sales
§ 55.1-1930. Declarant's obligation to complete and restore
§ 55.1-1931. Alterations within units
§ 55.1-1932. Relocation of boundaries between units
§ 55.1-1933. Subdivision of units
§ 55.1-1934. Amendment of condominium instruments
§ 55.1-1935. Use of technology
§ 55.1-1936. Merger or consolidation of condominiums; procedure
§ 55.1-1937. Termination of condominium
§ 55.1-1938. Rights of mortgagees
§ 55.1-1939. Statement of unit owner rights
§ 55.1-1941. Amendment to condominium instruments; consent of mortgagee
§ 55.1-1942. Reformation of declaration; judicial procedure
§ 55.1-1943. Control of condominium by declarant
§ 55.1-1945. Books, minutes, and records; inspection
§ 55.1-1946. Management office
§ 55.1-1947. Transfer of special declarant rights
§ 55.1-1948. Declarants not succeeding to special declarant rights
§ 55.1-1949. Meetings of unit owners' association and executive board
§ 55.1-1950. Distribution of information by members
§ 55.1-1951.1. Installation of solar energy collection devices
§ 55.1-1952. Meetings of unit owners' association and executive board; quorums
§ 55.1-1956. Control of common elements
§ 55.1-1957. Common elements; notice of pesticide application
§ 55.1-1958. Tort and contract liability; judgment lien
§ 55.1-1960. Limitation of occupancy of a unit
§ 55.1-1960.1. Limitation of smoking in condominium
§ 55.1-1961. Use of for sale sign in connection with resale
§ 55.1-1962. Designation of authorized representative
§ 55.1-1962.1. Electric vehicle charging stations permitted
§ 55.1-1964. Liability for common expenses; late fees
§ 55.1-1965. Annual budget; reserves for capital components
§ 55.1-1966. Lien for assessments
§ 55.1-1967. Notice of sale under deed of trust
§ 55.1-1968. Bond to be posted by declarant
§ 55.1-1969. Restraints on alienation
§ 55.1-1970. Common Interest Community Board
§ 55.1-1971. General powers and duties of the Common Interest Community Board
§ 55.1-1972. Exemptions from certain provisions of article
§ 55.1-1974. Limitations on dispositions of units
§ 55.1-1975. Application for registration; fee
§ 55.1-1976. Public offering statement; condominium securities
§ 55.1-1977. Inquiry and examination
§ 55.1-1978. Notice of filing and registration
§ 55.1-1979. Annual report by declarant
§ 55.1-1980. Annual report by unit owners' association
§ 55.1-1981. Termination of registration
§ 55.1-1982. Conversion condominiums; special provisions
§ 55.1-1983. Escrow of deposits
§ 55.1-1984. Declarant to deliver declaration to purchaser
§ 55.1-1985. Investigations and proceedings
§ 55.1-1986. Cease and desist orders
§ 55.1-1987. Revocation of registration
§ 55.1-1990. Resale by purchaser; contract disclosure; right of cancellation
§ 55.1-1991. Contents of resale certificate; delivery
§ 55.1-1992. Fees for resale certificate
§ 55.1-1993. Properties subject to more than one declaration