A. Any two or more condominiums, by agreement of the unit owners as provided in subsection B, may be merged or consolidated into a single condominium. In the event of a merger or consolidation, unless the agreement otherwise provides, the resultant condominium shall be the legal successor, for all purposes, of all of the preexisting condominiums, and the operations and activities of all unit owners' associations of the preexisting condominiums shall be merged or consolidated into a single unit owners' association that holds all powers, rights, obligations, assets, and liabilities of all preexisting unit owners' associations.
B. An agreement to merge or consolidate two or more condominiums pursuant to subsection A shall be evidenced by an agreement prepared, executed, recorded, and certified by the principal officer of the unit owners' association of each of the preexisting condominiums following approval by owners of units to which are allocated the percentage of votes in each condominium required to terminate that condominium. The agreement shall be recorded in every locality in which a portion of the condominium is located and shall not be effective until recorded.
C. Every merger or consolidation agreement shall provide for the reallocation of the allocated interests in the new unit owners' association among the units of the resultant condominium either (i) by stating the reallocations or the formulas upon which they are based or (ii) by stating the percentage of the overall allocated interests of the condominium that are allocated to all of the units comprising each of the preexisting condominiums, provided that the portion of the percentages allocated to each unit formerly comprising a part of the preexisting condominium shall be equal to the percentages of allocated interests allocated to that unit by the declaration of the preexisting condominium.
D. If the condominium instruments of a condominium to be merged or consolidated require a vote or consent of mortgagees in order to amend the condominium instruments or terminate the condominium, the same vote or consent of mortgagees shall be required before such merger or consolidation is effective. No merger or consolidation shall affect mortgagee rights, alter the priority of the lien of any mortgage, materially impair or affect any condominium unit as collateral for a mortgage, or affect a mortgagee's right to foreclose on a condominium unit as collateral without the prior written consent of the mortgagee. A vote or consent of a mortgagee required by this section may be deemed received pursuant to § 55.1-1941.
2014, c. 659, § 55-79.71:2; 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