Part III. Application for Registration
18VAC48-30-90. Application procedures.
A declarant seeking registration of a condominium pursuant to Chapter 19 (§ 55.1-1900 et seq.) of Title 55.1 of the Code of Virginia shall submit an application on the appropriate form provided by the board, along with the appropriate fee specified in 18VAC48-30-100.
By submitting the application to the board, the declarant certifies that the declarant has read and understands the applicable statutes and the board's regulations.
The receipt of an application and the deposit of fees by the board do not indicate approval or acceptance of the application by the board.
The board may make further inquiries and investigations to confirm or amplify information supplied. All applications shall be completed in accordance with the instructions contained in this section and on the application. Applications will not be considered complete until all required documents are received by the board.
Applications that are not approved within 12 months after receipt of the application in the board's office will be purged and a new application and fee must be submitted in order to be reconsidered for registration.
Statutory Authority
§ 54.1-2349 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 31, Issue 20, eff. August 1, 2015; amended, Virginia Register Volume 36, Issue 6, eff. December 31, 2019.
18VAC48-30-100. Fee requirements.
All fees are nonrefundable and shall not be prorated. The date on which the fee is received by the board or its agent will determine whether the fee is timely. Checks or money orders shall be made payable to the Treasurer of Virginia.
1. Each application for registration of a condominium shall be accompanied by a fee in an amount equal to $35 per unit, except that the fee shall not be less than $1,750 or more than $3,500.
2. Each phase filing application shall be accompanied by a fee in an amount equal to $35 per unit, except that the fee for each phase filing shall not be less than $875 or more than $3,500.
Statutory Authority
§ 54.1-2349 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 31, Issue 20, eff. August 1, 2015.
18VAC48-30-110. Review of application for registration.
A. Upon receipt of an application for registration, the board shall issue the notice of filing required by subsection A of § 55.1-1978 of the Code of Virginia.
B. Upon the review of the application for registration, if the requirements of §§ 55.1-1975 and 55.1-1977 of the Code of Virginia have not been met, the board shall notify the applicant as required by subsection C of § 55.1-1978 of the Code of Virginia.
C. A request for an extension of the 60-day application review period described in § 55.1-1978 of the Code of Virginia shall be in writing and shall be delivered to the board prior to the expiration of the period being extended. The request shall be for an extension of definite duration. The board may grant in writing a request for an extension of the application review period, and it may limit the extension to a period not longer than is reasonably necessary to permit correction of the application. An additional extension of the application review period may be obtained, subject to the conditions applicable to the initial request. A request for an extension of the application review period shall be deemed a consent to delay within the meaning of subsection A of § 55.1-1978 of the Code of Virginia.
D. If the requirements for registration are not met within the application review period or a valid extension thereof, the board shall, upon the expiration of such period, enter an order rejecting the registration as required by subsection C of § 55.1-1978 of the Code of Virginia.
E. An applicant may submit a written request for an informal conference in accordance with § 2.2-4019 of the Code of Virginia at any time between receipt of a notification pursuant to subsection B of this section and the effective date of the order of rejection entered pursuant to subsection D of this section. A request for such proceeding shall be deemed a consent to delay within the meaning of subsection A of § 55.1-1978 of the Code of Virginia.
F. The board shall receive and act upon corrections to the application for registration at any time prior to the effective date of an order rejecting the registration. If the board determines after review of the corrections that the requirements for registration have not been met, the board may proceed with an informal conference in accordance with § 2.2-4019 of the Code of Virginia to allow reconsideration of whether the requirements for registration are met. If the board does not opt to proceed with an informal conference, the applicant may submit a written request for an informal conference in accordance with § 2.2-4019 of the Code of Virginia to reconsider whether the requirements for registration are met. If the board does not proceed with an informal conference and no request for an informal conference is received from the applicant, an amended order of rejection stating the factual basis for the rejection shall be issued. A new 20-day period for the order of rejection to become effective shall commence.
G. At such time as the board affirmatively determines that the requirements of §§ 55.1-1975 and 55.1-1977 of the Code of Virginia have been met, the board shall enter an order registering the condominium and shall designate the form, content, and effective date of the public offering statement, substituted public offering statement, or prospectus to be used.
Statutory Authority
§ 54.1-2349 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 31, Issue 20, eff. August 1, 2015; amended, Virginia Register Volume 36, Issue 6, eff. December 31, 2019.
18VAC48-30-120. Prerequisites for registration.
The following provisions are prerequisites for registration and are supplementary to the provisions of § 55.1-1977 of the Code of Virginia.
1. The declarant shall own or have the right to acquire an estate in the land constituting or to constitute the condominium that is of at least as great a degree and duration as the estate to be conveyed in the condominium units.
2. The condominium instruments must be adequate to bring a condominium into existence upon recordation except that the certification requirements of § 55.1-1920 of the Code of Virginia need not be complied with as a prerequisite for registration. This subsection does not apply to condominium instruments that may be recorded after the condominium has been created.
3. The declarant shall have filed with the board reasonable evidence of its financial ability to complete all proposed improvements on the condominium. Such evidence may include (i) financial statements and a signed affidavit attesting that the declarant has sufficient funds to complete all proposed improvements on the condominium and that the funds will be used for completion of the proposed improvements or (ii) proof of a commitment of an institutional lender to advance construction funds to the declarant and, to the extent that any such commitments will not furnish all the necessary funds, other evidence, satisfactory to the board, of the availability to the declarant of necessary funds. A lender's commitment may be subject to such conditions, including registration of the condominium units and presale requirements, as are normal for loans of the type and as to which nothing appears to indicate that the conditions will not be complied with or fulfilled.
a. In the case of a condominium located in Virginia, "proposed improvements" are improvements that are not yet begun or not yet complete and that the declarant is affirmatively and unconditionally obligated to complete under §§ 55.1-1920 and 55.1-1930 B of the Code of Virginia and applicable provisions of the condominium instruments or that the declarant would be so obligated to complete if plats and plans filed with the board in accordance with 18VAC48-30-140 A were recorded.
b. In the case of a condominium located outside of Virginia, "proposed improvements" are improvements that are not yet begun or not yet complete and that the declarant represents, without condition or limitation, will be built or placed in the condominium.
4. The current and planned condominium marketing activities of the declarant shall comply with § 18.2-216 of the Code of Virginia, 18VAC48-30-80, and 18VAC48-30-660.
5. The declarant shall have filed with the board (i) a proposed public offering statement that complies with this chapter and subsection A of § 55.1-1976 of the Code of Virginia and, if applicable, subsection B of § 55.1-1982 of the Code of Virginia; (ii) a substituted public offering statement that complies with this chapter; or (iii) a prospectus that complies with this chapter.
6. Declarants may be organized as individuals or firms. Firms shall be organized as business entities under the laws of the Commonwealth of Virginia or otherwise authorized to transact business in Virginia. Firms shall register any trade or fictitious names with the State Corporation Commission in accordance with Chapter 5 of Title 59.1 (§ 59.1-69 et seq.) of the Code of Virginia before submitting an application to the board.
Statutory Authority
§ 54.1-2349 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 31, Issue 20, eff. August 1, 2015; amended, Virginia Register Volume 36, Issue 6, eff. December 31, 2019; Volume 36, Issue 17, eff. June 1, 2020.
18VAC48-30-130. Minimum requirements for registration.
Applications for registration shall include the following:
1. The documents and information contained in § 55.1-1975 of the Code of Virginia.
2. The application fee specified in 18VAC48-30-100.
3. The following documents shall be included as exhibits. All exhibits shall be labeled as indicated and submitted in hardcopy form and electronically in a format acceptable to the board.
a. Exhibit A: A copy of the certificate of incorporation or certificate of authority to transact business in Virginia issued by the Virginia State Corporation Commission or other entity formation documents.
b. Exhibit B: A copy of the title opinion, title policy, or a statement of the condition of the title to the condominium project including encumbrances as of a specified date within 30 days of the date of application by a title company or licensed attorney who is not a salaried employee, officer, or director of the declarant or owner, in accordance with subdivision A 5 of § 55.1-1975 of the Code of Virginia.
c. Exhibit C: A copy of the instruments that will be delivered to a purchaser to evidence the purchaser's interest in the unit and of the contracts and other agreements that a purchaser will be required to agree to or sign.
d. Exhibit D: A narrative description of the promotional plan for the disposition of the condominium units.
e. Exhibit E: A copy of documentation demonstrating the declarant's financial ability to complete the project in accordance with 18VAC48-30-120.
f. Exhibit F: A copy of the proposed public offering statement that complies with subsection A of § 55.1-1976 and subsection B of § 55.1-1982 of the Code of Virginia, as applicable, and this chapter. A substitute public offering statement or a prospectus pursuant to 18VAC48-30-370 and 18VAC48-30-380 respectively may be submitted for a condominium formed in another jurisdiction.
g. Exhibit G: Copies of bonds required by §§ 55.1-1921, 55.1-1968, and 55.1-1983 of the Code of Virginia, as applicable.
h. Exhibit H: A list with the name of every officer of the declarant who is directly responsible for the project or person occupying a similar status within, or performing similar functions for, the declarant. The list must include each individual's address, principal occupation for the past five years, and extent and nature of the individual's interest in the condominium as of a specified date within 30 days of the filing of the application.
i. Exhibit I: Plats and plans of the condominium that (i) comply with the provisions of § 55.1-1920 of the Code of Virginia and 18VAC48-30-140 other than the certification requirements and (ii) show all units and buildings containing units to be built anywhere within the submitted land other than within the boundaries of any convertible lands. Hardcopy submittals of plats and plans must be no larger than 11 inches by 17 inches.
j. Exhibit J: Conversion condominiums must attach (i) a copy of the general notice provided to tenants of the condominium at the time of application pursuant to subsection C of § 55.1-1982 of the Code of Virginia, (ii) a copy of the formal notice to be sent at the time of registration to the tenants, if any, of the buildings, and (iii) the certified statement required in accordance with subsection D of § 55.1-1982 of the Code of Virginia.
Statutory Authority
§ 54.1-2349 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 31, Issue 20, eff. August 1, 2015; amended, Virginia Register Volume 36, Issue 6, eff. December 31, 2019.
18VAC48-30-140. Requirements for plats and plans.
A. Except as provided in subsection C of this section, all plats and plans submitted with the application for registration shall comply with § 55.1-1920 of the Code of Virginia but the certification need not be signed until recordation. The plats and plans filed with the application for registration shall be the same as the plats and plans the declarant intends to record. A material change to the plats and plans shall be submitted to the board in accordance with Part VI (18VAC48-30-460 et seq.) of this chapter. Once recorded, copies of plats and plans as recorded shall be filed with the board in accordance with Part VI of this chapter.
B. In the case of units that are substantially identical, the requirement to show the location and dimensions (within normal construction tolerances) of the boundaries of each unit pursuant to subsection B of § 55.1-1920 of the Code of Virginia may be deemed satisfied by depiction of the location and dimensions of the vertical boundaries and horizontal boundaries, if any, of one such unit. The identifying numbers of all units represented by such depiction shall be indicated. Each structure within which any such units are located shall be depicted so as to indicate the exact location of each such unit within the structure.
C. In the case of a condominium located outside Virginia, certain materials may be filed with the application for registration in lieu of plats and plans complying with the provisions of § 55.1-1920 of the Code of Virginia. Such materials shall contain, as a minimum, (i) a plat of survey depicting all existing improvements, and all improvements that the declarant represents, without condition or limitation, will be built or placed in the condominium; and (ii) legally sufficient descriptions of each unit. Any improvements whose completion is subject to conditions or limitations shall be appropriately labeled to indicate that such improvements may not be completed. Unit descriptions may be written or graphic, shall demarcate each unit vertically and, if appropriate, horizontally, and shall indicate each unit's location relative to established points or datum.
D. The plats and plans must bear the form of the certification statement required by subsections A and B of § 55.1-1920 of the Code of Virginia. However, as stated in subsection A of this section, the statement need not be executed prior to recordation. The certification statement may appear in a separate document that is recorded, or to be recorded.
Statutory Authority
§ 54.1-2349 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 31, Issue 20, eff. August 1, 2015; amended, Virginia Register Volume 36, Issue 6, eff. December 31, 2019.
18VAC48-30-150. Application for registration of expandable condominium.
The declarant may include in the application for registration all units for which development rights have been reserved.
Statutory Authority
§ 54.1-2349 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 31, Issue 20, eff. August 1, 2015.