                                 CODE OF VIRGINIA

BOND TO SECURE POSSESSION (§ 19.2-386.6)

If the owner or lien holder of the named property desires to obtain possession
thereof before the hearing on the information filed against the same, such
property shall be appraised by the clerk of the court where such information is
filed. The clerk shall promptly cause the property to be appraised at its fair
cash value, and forthwith make return thereof in writing to the court. Any
appraisal fee shall be taxed as costs as provided in § 19.2-386.12. Upon the
return of the appraisal, the owner or lien holder may give a bond payable to the
Commonwealth, in a penalty of the amount equal to the appraised value of the
property plus the court costs which may accrue, with security to be approved by
the clerk and conditioned for the performance of the final judgment of the
court, on the trial of the information. A further condition shall be that, if
upon the hearing on the information, the judgment of the court is that such
property, or any part thereof, or such interest and equity as the owner or lien
holder may have therein, is forfeited, judgment may thereupon be entered against
the obligors on such bond for the penalty thereof, without further or other
proceedings against them thereon, to be discharged by the payment of the
appraised value of the property so seized and forfeited, and costs. Upon such
judgment, execution may issue, on which the clerk shall endorse, &#8220;No
security to be taken.&#8221; Upon giving of the bond, the property shall be
delivered to the owner or lien holder.

HISTORY: 1989, c. 690.