{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2237.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2237.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2237.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2237.html"}],"law_id":86681,"edition_id":1,"section_id":86681,"structure_id":14271,"section_number":"55.1-2237","catch_line":"Protection of lien holder","history":"1981, c. 462, \u00a7 55-389; 1985, c. 517; 1998, c. 460; 2019, c. 712.","full_text":"Any lien holder of a time-share interest in any time-share program shall have the following rights:\n\n1\n\nThe lien holder shall have its lien rights preserved as against any purchaser of a time-share who claims that the time-share instrument is invalid, void, or voidable, 30 days after written notice by certified mail or personal delivery has been given by the developer or lien holder to the purchaser. The notice shall state that the developer has assigned the receivables to the lien holder and that the purchaser has 30 days within which to object and specify the invalidity or defect contained within such time-share instrument. The notice required by this section may be included in the blanket encumbrance, in the contract, or in any note, deed of trust, or mortgage executed by the purchaser in connection with the purchaser’s deferred purchase of a time-share.2\n\nAny purchaser who fails to indicate that the time-share instrument is invalid, void, or voidable as provided in subdivision 1 waives, or is estopped to raise, the same in any subsequent enforcement of the collection of the receivable by the lien holder.","order_by":null,"text":{"0":{"id":310425,"text":"Any lien holder of a time-share interest in any time-share program shall have the following rights:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":310426,"text":"The lien holder shall have its lien rights preserved as against any purchaser of a time-share who claims that the time-share instrument is invalid, void, or voidable, 30 days after written notice by certified mail or personal delivery has been given by the developer or lien holder to the purchaser. The notice shall state that the developer has assigned the receivables to the lien holder and that the purchaser has 30 days within which to object and specify the invalidity or defect contained within such time-share instrument. The notice required by this section may be included in the blanket encumbrance, in the contract, or in any note, deed of trust, or mortgage executed by the purchaser in connection with the purchaser’s deferred purchase of a time-share.","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":310427,"text":"Any purchaser who fails to indicate that the time-share instrument is invalid, void, or voidable as provided in subdivision 1 waives, or is estopped to raise, the same in any subsequent enforcement of the collection of the receivable by the lien holder.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1"}},"ancestry":[{"id":14271,"edition_id":1,"name":"Financing","identifier":"4","label":"article","depth":4,"order_by":1,"parent_id":13543,"metadata":{},"date_created":"2026-06-26 03:47:33","date_modified":"2026-06-26 03:47:33","permalink":{"id":247617,"object_type":"structure","relational_id":14271,"identifier":"4","token":"55.1\/IV\/22\/4","url":"\/55.1\/IV\/22\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13543,"edition_id":1,"name":"Virginia Real Estate Time-Share Act","identifier":"22","label":"chapter","depth":3,"order_by":1,"parent_id":12914,"metadata":{},"date_created":"2026-06-26 03:45:10","date_modified":"2026-06-26 03:45:10","permalink":{"id":247469,"object_type":"structure","relational_id":13543,"identifier":"22","token":"55.1\/IV\/22","url":"\/55.1\/IV\/22\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12914,"edition_id":1,"name":"Common Interest Communities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12707,"metadata":{},"date_created":"2026-06-26 03:44:01","date_modified":"2026-06-26 03:44:01","permalink":{"id":246473,"object_type":"structure","relational_id":12914,"identifier":"IV","token":"55.1\/IV","url":"\/55.1\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12707,"edition_id":1,"name":"Property and Conveyances","identifier":"55.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":244769,"object_type":"structure","relational_id":12707,"identifier":"55.1","token":"55.1","url":"\/55.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":72776,"structure_id":14271,"section_number":"55.1-2235","catch_line":"Financing of time-share programs","url":"\/55.1-2235\/","token":"55.1\/IV\/22\/4\/55.1-2235","metadata":false},{"id":55533,"structure_id":14271,"section_number":"55.1-2236","catch_line":"Purchaser's rights under developer's foreclosure","url":"\/55.1-2236\/","token":"55.1\/IV\/22\/4\/55.1-2236","metadata":false},{"id":86681,"structure_id":14271,"section_number":"55.1-2237","catch_line":"Protection of lien holder","url":"\/55.1-2237\/","token":"55.1\/IV\/22\/4\/55.1-2237","metadata":false}],"previous_section":{"id":55533,"structure_id":14271,"section_number":"55.1-2236","catch_line":"Purchaser's rights under developer's foreclosure","url":"\/55.1-2236\/","token":"55.1\/IV\/22\/4\/55.1-2236","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2237\/","history_text":"

This law was first created in 1981. The record of its establishment is cataloged in chapter 462 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1981 \u201cActs\u201d aren\u2019t available online. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1985, chapter 517; in 1998, chapter 460<\/a>; in 2019, chapter 712<\/a>.<\/p>","references":[{"id":61697,"section_number":"55.1-2201","catch_line":"Applicability","order_by":null,"url":"\/55.1-2201\/"},{"id":85586,"section_number":"55.1-2231","catch_line":"Statute of limitations; actions; limitation on rescission rights","order_by":null,"url":"\/55.1-2231\/"}],"refers_to":false,"permalink":{"id":247627,"object_type":"law","relational_id":86681,"identifier":"55.1-2237","token":"55.1\/IV\/22\/4\/55.1-2237","url":"\/55.1-2237\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2237\/","token":"55.1\/IV\/22\/4\/55.1-2237","dublin_core":{"Title":"Protection of lien holder","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2237","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Any lien holder<\/span> of a time-share interest in any time-share program<\/span> shall have the following rights:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The lien holder<\/span> shall have its lien rights preserved as against any purchaser<\/span> of a time-share who claims that the time-share instrument<\/span> is invalid, void, or voidable, 30 days after written notice by certified mail or personal delivery has been given by the developer<\/span> or lien holder<\/span> to the purchaser<\/span>. The notice shall state that the developer<\/span> has assigned the receivables to the lien holder<\/span> and that the purchaser<\/span> has 30 days within which to object<\/span> and specify the invalidity or defect contained within such time-share instrument<\/span>. The notice required by this section may be included in the blanket encumbrance, in the contract<\/span>, or in any note<\/span>, deed of trust<\/span>, or mortgage executed by the purchaser<\/span> in connection with the purchaser<\/span>’s deferred purchase of a time-share. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Any purchaser<\/span> who fails to indicate that the time-share instrument<\/span> is invalid, void, or voidable as provided in subdivision 1 waives<\/span>, or is estopped to raise, the same in any subsequent enforcement of the collection of the receivable by the lien holder<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPROTECTION OF LIEN HOLDER (\u00a7 55.1-2237)\n\nAny lien holder of a time-share interest in any time-share program shall have\nthe following rights:\n\n1. The lien holder shall have its lien rights preserved as against any purchaser\nof a time-share who claims that the time-share instrument is invalid, void, or\nvoidable, 30 days after written notice by certified mail or personal delivery\nhas been given by the developer or lien holder to the purchaser. The notice\nshall state that the developer has assigned the receivables to the lien holder\nand that the purchaser has 30 days within which to object and specify the\ninvalidity or defect contained within such time-share instrument. The notice\nrequired by this section may be included in the blanket encumbrance, in the\ncontract, or in any note, deed of trust, or mortgage executed by the purchaser\nin connection with the purchaser’s deferred purchase of a time-share.\n\n2. Any purchaser who fails to indicate that the time-share instrument is\ninvalid, void, or voidable as provided in subdivision 1 waives, or is estopped\nto raise, the same in any subsequent enforcement of the collection of the\nreceivable by the lien holder.\n\nHISTORY: 1981, c. 462, \u00a7 55-389; 1985, c. 517; 1998, c. 460; 2019, c. 712.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}