Va. Code § 55.1-1505

Current with changes from the 2024 legislative session through ch. 845

Section 55.1-1505 - Incorporation of agreement into deed

A ground rent agreement made pursuant to the provisions of this chapter may be incorporated into the deed or other instrument of transfer in the following form:

This deed is subject to annual ground rent or charge as follows:

1. Date of agreement: ______;

2. Parties:

a. Obligor: ______; and

b. Obligee: ______;

3. Ground rent and any future adjustments to it: ______;

4. When payable: ______;

5. Duration: ______;

6. Original value of land: ______; and

7. Redemption price, if agreed on: ______.

Va. Code § 55.1-1505

1975, c. 363, § 55-79.06; 2019, c. 712.

Added by Acts 2019 c. 712, § 1, eff. 10/1/2019.