Code of Virginia

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Code of Virginia
Title 55.1. Property and Conveyances
Chapter 15. Residential Ground Rent Act

§ 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: ______.

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

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.