55-79.40 - Application and construction of chapter.
§ 55-79.40. Application and construction of chapter.
A. This chapter shall apply to all condominiums and to all horizontalproperty regimes or condominium projects. For the purposes of this chapter,the terms "horizontal property regime" and "condominium project" shall bedeemed to correspond to the term "condominium"; the term "apartment"shall be deemed to correspond to the term "unit"; the term "co-owner"shall be deemed to correspond to the term "unit owner"; the term "councilof co-owners" shall be deemed to correspond to the term "unit owners'association"; the term "developer" shall be deemed to correspond to theterm "declarant"; the term "general common elements" shall be deemed tocorrespond to the term "common elements"; and the terms "master deed" and"master lease" shall be deemed to correspond to the term "declaration"and shall be deemed included in the term "condominium instruments." Thischapter shall be deemed to supersede the Horizontal Property Act, §§ 55-79.1through 55-79.38, and no condominium shall be established under the latter onor after July 1, 1974. But this chapter shall not be construed to affect thevalidity of any provision of any condominium instrument recorded prior toJuly 1, 1974. Nor shall Article 4 (§ 55-79.86 et seq.) of this chapter bedeemed to supersede §§ 55-79.16 through 55-79.31 of the Horizontal PropertyAct as to any condominiums established prior to the effective date hereof.
B. This chapter shall not apply to condominiums located outside theCommonwealth. Sections 55-79.88 through 55-79.94 and §§ 55-79.98 through55-79.103 shall apply to all contracts for the disposition of condominiumunits signed in the Commonwealth by any person, unless exempt under §55-79.87.
C. Subsection B of § 55-79.79 and § 55-79.94 do not apply to the declarant ofa conversion condominium if that declarant is a proprietary lessees'association that, immediately before the creation of the condominium, ownedfee simple title to or a fee simple reversionary interest in the real estatedescribed pursuant to subdivision (a) (3) of § 55-79.54.
(1974, c. 416; 1982, c. 545; 1989, c. 63; 2006, c. 646.)