                                 CODE OF VIRGINIA

FORM OF INSTRUMENT (§ 55.1-1501)

Any agreement in which a residential ground rent is created shall:

1. Be reduced to writing;

2. Be in recordable form; and

3. Disclose the date, the names of the parties, the ground rent and any future
adjustments to the ground rent, when such rent is payable, the duration of the
agreement, and the value of the land at the time the agreement is made. If the
parties agree to the amount for which the ground rent may be redeemed, such
amount shall also be included in the agreement. Such agreement shall be included
as a part of the deed or other instrument of transfer.

HISTORY: 1975, c. 363, § 55-79.02; 2019, c. 712.