55-438 - Creation of cooperative ownership. - Virginia Statutes

§ 55-438. Creation of cooperative ownership.

A cooperative may be created pursuant to this chapter only by recording adeclaration executed in the same manner as a deed, and by conveying to theassociation the real estate subject to that declaration. The declaration mustbe recorded in every city or county in which any portion of the cooperativeis located, and must be indexed in the grantee's index in the name of thecooperative and the association and in the grantor's index in the name ofeach person executing the declaration.

(1982, c. 277.)