                                 CODE OF VIRGINIA

AWARDS IN GREATER AMOUNTS THAN DEPOSIT; INTEREST (§ 25.1-315)

A. If the amount of an award in a condemnation proceeding is greater than that
deposited with the court or represented by a certificate of deposit, the excess
amount, together with interest accrued on such excess amount, shall be paid into
court for the person or persons entitled thereto. The clerk shall deposit such
funds to the credit of the court in an account of a type that bears interest.

B. Interest, compounded daily, shall accrue on the excess amount at not less
than the judgment rate of interest as set forth in &#xA7; 8.01-382, computed
from the date of such deposit to the date of payment into court and be paid into
court for the person or persons entitled thereto. However, any interest that
accrued before July 1, 1970, shall be paid at the rate of five percent, and
interest accruing thereafter and prior to July 1, 1981, shall be paid at the
rate of six percent, and any interest accruing thereafter and prior to July 1,
1994, shall be paid at the rate of eight percent.

HISTORY: 2003, c. 940; 2017, c. 710; 2022, c. 735; 2025, c. 617.