LIS

Virginia Law

Code of Virginia

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Code of Virginia
Title 55.1. Property and Conveyances
Chapter 15. Residential Ground Rent Act
11/8/2024

§ 55.1-1503. Encumbrance on real property.

A residential ground rent shall constitute a lien against the real estate from the time it is recorded. Any deed of trust or mortgage may provide that a default in payment of ground rent shall constitute a default in such deed of trust or mortgage, that the trustee or beneficiary of the deed of trust or mortgage may satisfy such obligation for rent, and that the money used to satisfy such obligation, along with interest, shall be a part of the debt secured, to be repaid as provided in § 55.1-320 et seq.

1975, c. 363, § 55-79.04; 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.