SECTION 55.1-1995. Exceptions to disclosure requirements

A. The resale certificate required by this article need not be provided in the case of:

1. A disposition of a unit by gift;

2. A disposition of a unit pursuant to court order if the court so directs;

3. A disposition of a unit by foreclosure or deed in lieu of foreclosure; or

4. A disposition of a unit by a sale at auction when the resale certificate was made available as part of the auction package for prospective purchasers prior to the auction.

B. In any transaction in which a resale certificate is required and a trustee acts as the seller in the sale or resale of a unit, the trustee shall obtain the resale certificate from the unit owners' association and provide the resale certificate to the purchaser.

1974, c. 416, § 55-79.97; 1975, c. 415; 1978, cc. 234, 290; 1983, c. 60; 1984, cc. 29, 103; 1990, c. 662; 1991, c. 497; 1994, c. 172 ; 1997, c. 172 ; 1998, cc. 172 , 172 , 172 ; 1999, c. 172 ; 2001, c. 172 ; 2002, cc. 172 , 172 ; 2005, c. 172 ; 2007, cc. 172 , 172 , 172 , 172 ; 2008, cc. 172 , 172 ; 2011, c. 172 ; 2013, cc. 172 , 172 ; 2014, c. 172 ; 2015, c. 172 ; 2016, c. 172 ; 2017, cc. 172 , 172 ; 2018, c. 172 ; 2019, c. 172 .