Condominium

A condominium is a type of housing where individual units are owned by separate individuals, while common areas are jointly owned and maintained by all unit owners. In Virginia, condominiums are governed by the Virginia Condominium Act, which sets forth regulations regarding the creation, management, and operation of condominiums. This law outlines requirements for the establishment of condominium associations, rules for governance, and procedures for the sale and transfer of units. It also addresses issues such as common expenses, maintenance responsibilities, and dispute resolution mechanisms within condominium communities.