15.2-944.1 - Notification prior to sale or transfer of ownership of certain historic properties.
§ 15.2-944.1. Notification prior to sale or transfer of ownership of certainhistoric properties.
A. Any charitable or civic organization or museum that (i) has been grantedtax exempt status under § 501 (c) (3) of the Internal Revenue Code; (ii) ownsreal property that is designated as historic under a local zoning ordinanceor meets the criteria for a historic area under § 15.2-2201; and (iii) isoperating that property as a historic attraction open to the public forinterpretation for more than 100 days per year, shall notify in writing thelocality's chief administrative officer, the Department of HistoricResources, and the Office of Attorney General of its intent to sell ortransfer ownership of such property.
B. Such notification shall be provided at least ninety days prior to thepublic offering for sale of such property, or if no public offering is made,at least ninety days prior to the acceptance of a purchase offer for suchproperty.
C. The notification required pursuant to subsection A shall be waived where(i) only a portion of the property is sold or transferred and the portionthat is not sold or transferred remains open to the public at least 100 daysa year; (ii) the property is being transferred to another owner who has beengranted tax exempt status under § 501 (c) (3) of the Internal Revenue Codeand the property remains open to the public at least 100 days a year; or(iii) an easement, right-of-way, or leasehold interest in the property isbeing sold or transferred and the property remains open to the public atleast 100 days a year.
D. Failure to provide the notification required by this section shall not bethe basis for invalidation of any sale, but may subject the terms of the saleto special review by the locality or the Attorney General to ensure that suchsale has not resulted in a violation of any public law or charitable trustobligation by the transferring organization or entity.
(2001, c. 780.)