                                 CODE OF VIRGINIA

TRANSFER OF DEPOSITS UPON PURCHASE (§ 55.1-1317)

The manufactured home park owner shall transfer any security deposits and any
accrued interest on the deposits in his possession to the new manufactured home
park owner at the time of the transfer of the rental property. If the current
manufactured home park owner has entered into a written property management
agreement with a managing agent in accordance with the provisions of subsection
E of § 54.1-2135, the current manufactured home park owner shall give written
notice to the managing agent requesting payment of such security deposits to the
current manufactured home park owner prior to settlement with the new
manufactured home park owner. Upon receipt of the written notice, the managing
agent shall transfer the security deposits to the current manufactured home park
owner and provide written notice to each tenant that his security deposit has
been transferred to the new manufactured home park owner in accordance with this
section.

HISTORY: 1984, c. 281, § 55-507; 2017, cc. 63, 402; 2019, c. 712.