Virginia Code 10.1-1171: Exceptions.
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A. This article shall not apply to any tract of land in excess of 500 acres under the sole ownership of an individual, corporation, partnership, trust, association, or any other business unit, device, or arrangement.
Terms Used In Virginia Code 10.1-1171
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
B. This article shall not apply to any acre or part of an acre on which the landowner is receiving federal financial assistance for growing timber.
1981, c. 371, §§ 10-90.33, 10-90.34, 10-90.35; 1988, c. 891; 1996, c. 733.