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§ 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: ______.

History

This law was first created in 1975. The record of its establishment is cataloged in chapter 363 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1975 “Acts” aren’t available online. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2019, chapter 712.

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

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