Buying a condominium could be a very risky choice. “Purchaser” means any individual or persons, apart from a declarant, who acquire by way of a voluntary switch a authorized or equitable interest in a condominium unit, other than (i) a leasehold interest, together with renewal options, of less than 20 years or (ii) as safety for a debt.
(a1) The declarant shall full all improvements labeled “(NOT BUT ACCOMPLISHED)” on plats recorded pursuant to the necessities of this chapter except the condominium devices expressly exempt the declarant from such obligation, and shall, within the case of every improvement labeled “(NOT BUT BEGUN)” on such plats, state within the declaration either the extent of the duty to complete the same or that there is no such obligation.
A unit owners’ association shall have standing to sue in its personal title for any claims or actions associated to the frequent components as provided in subsection B of § fifty five-seventy nine.80 Except as provided in subsection B, the prevailing celebration shall be entitled to recover cheap attorney charges, prices expended in the matter, and interest on the judgment as supplied in § eight.01-382 This section shall not preclude an motion against the …
