CODE OF VIRGINIA

DEFINITIONS (§ 55-526)

As used in this chapter, unless the context requires a different
meaning:”Commercial real estate” means any real estate other than
(i) real estate containing one to four residential units or (ii) real estate
classified for assessment purposes under the provisions of Article 4 (§
58.1-3230 et seq.) of Chapter 32 of Title 58.1. Commercial real estate shall not
include single family residential units, including condominiums, townhouses,
apartments or homes in a subdivision when leased on a unit by unit basis even
though these units may be part of a larger building or parcel of real estate
containing more than four residential units.”Principal broker” shall
have the same meaning as provided in the regulations promulgated by the Real
Estate Board.

HISTORY: 1992, c. 877; 2009, c. 262.