                                 CODE OF VIRGINIA

PAYMENT OF CERTIFICATES OF DEPOSIT; RECORDATION OF CERTAIN CERTIFICATES; NOTICE
TO OWNER (§ 33.2-1020)

A. A certificate of deposit shall be deemed and held for the purpose of this
article to be payment into the custody of such court. Payment against any
certificate of deposit so issued and countersigned, when ordered by the court
named therein, shall be paid by the State Treasurer on warrants of the
Comptroller, issued on vouchers signed by the Commissioner of Highways.

B. A duplicate of each certificate of deposit so issued and countersigned shall
be kept as a record in the office of the Commissioner of Highways and a copy
thereof shall be filed with the State Treasurer.

C. The Commissioner of Highways shall, between 30 and 45 days prior to the date
on which any certificate will be filed or recorded pursuant to this chapter,
give notice to the owner or tenant, if known, of the freehold by certified or
registered mail that such certificate will be filed or recorded with respect to
such person&#8217;s property. Such notice shall contain the following language,
as appropriate:

   1. &#8220;Within 30 to 45 days of the date of this notice, a certificate of
   take shall be recorded in the land records of the circuit court&#8221;; or

   2. &#8220;Within 30 to 45 days of the date of this notice, a certificate of
   deposit shall be recorded in the land records of the circuit court.&#8221;
   				Such notice shall also state that upon recordation of the certificate, the
   defeasible title to the property shall transfer to the Commissioner of
   Highways and that the owner has the right to petition the court for
   distribution of the funds represented by the certificate, subject to any
   preexisting liens or other encumbrances upon the property. Additionally,
   within four business days of the filing or recording of a certificate, the
   Commissioner of Highways shall give notice of such filing or recording to the
   owner or tenant, if known, of the freehold by providing a copy of such
   certificate by certified or registered mail.

HISTORY: Code 1950, § 33-70.3; 1958, c. 581; 1970, c. 322, § 33.1-121; 2003,
c. 940; 2014, c. 805; 2017, c. 563; 2019, cc. 82, 162; 2025, c. 617.