CODE OF VIRGINIA

DEFINITIONS (§ 15.2-2316.1)

As used in this article, the term:”Development rights” means the
permitted uses and density of development that are allowed on the sending
property under any zoning ordinance of a locality on a date prescribed by the
ordinance. “Development rights” includes “transferable
development rights.”"Receiving area” means one or more areas
identified by an ordinance and designated by the comprehensive plan as an area
authorized to receive development rights transferred from a sending
area.”Receiving property” means a lot or parcel within a receiving
area and within which development rights are increased pursuant to a transfer of
development rights affixed to the property. Receiving property shall be
appropriate and suitable for development and shall be sufficient to accommodate
the transferable development rights of the sending property. Development rights
may be transferred between receiving properties, as otherwise permitted in the
ordinance.”Sending area” means one or more areas identified by an
ordinance and designated by the comprehensive plan as an area from which
development rights are authorized to be severed and transferred to a receiving
area.”Sending property” means a lot or parcel within a sending area
from which development rights are authorized to be severed.”Severance of
development rights” means the process by which development rights from a
sending property are severed pursuant to this act.”Transfer of development
rights” means the process by which development rights from a sending
property are affixed to one or more receiving properties.”Transferable
development rights” means all or that portion of development rights that
are transferred or are transferable.

HISTORY: 2006, c. 573; 2007, cc. 363, 410; 2009, cc. 413, 731.