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2007 SESSION
HB 1968 Family subdivision; amends statute for conveyance of a lot.
Introduced by: Lynwood W. Lewis, Jr. | all patrons ... notes | add to my profiles | history
SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION:
Subdivision of a lot for conveyance to a family member. Amends the statute that authorizes localities to provide an additional method for subdivision of a lot for conveyance to a family member. Under current law, the property owner must agree to place a restrictive covenant on the subdivided property that would prohibit the transfer of the property to a nonmember of the immediate family for a period of 15 years. The bill provides that a locality may reduce or provide exceptions to such period of years when changed circumstances so require. However, upon such modification of a restrictive covenant, a locality shall execute a writing reflecting such modification, which writing shall be recorded in accordance with § 17.1-227 (relating to documents recorded in deed books).
SUMMARY AS INTRODUCED:
Subdivision of a lot for conveyance to a family member. Amends the statute that authorizes localities to provide an additional method for subdivision of a lot for conveyance to a family member. Under current law, the property owner must agree to place a restrictive covenant on the subdivided property that would prohibit the transfer of the property to a nonmember of the immediate family for a period of 15 years. The bill provides that a locality may reduce or provide exceptions to such period of years when changed circumstances so require.