55-448 - Relocation of boundaries between adjoining units. - Virginia Statutes

§ 55-448. Relocation of boundaries between adjoining units.

A. Subject to the provisions of the declaration and other provisions of law,the boundaries between adjoining units may be relocated by an amendment tothe declaration upon application to the association by the proprietarylessees of those units. If the proprietary lessees of the adjoining unitshave specified a reallocation between their cooperative interests of theirallocated interests, the application must state the proposed reallocations.Unless the executive board determines within thirty days that thereallocations are unreasonable, the association shall prepare an amendmentthat identifies the units involved, states the reallocations, is executed bythose proprietary lessees, contains words of conveyance between them, andupon recordation, is indexed in the name of the grantor and the grantee.

B. The association shall prepare and record amendments to the declarationincluding any plans necessary to show or describe the altered boundariesbetween adjoining units and their sizes and identifying numbers. All costsfor such preparation and recordation shall be borne by the proprietarylessees involved.

(1982, c. 277.)