                                 CODE OF VIRGINIA

CHANGES IN AMOUNT OF RENT (§ 55.1-1502)

The amount of a residential ground rent may be changed on demand of either the
obligor or obligee at the end of five years from the date of the agreement, and
every five years thereafter, by giving notice to the other party by certified
mail or overnight delivery using a commercial service or the United States
Postal Service between 90 and 60 days prior to such fifth anniversary. Unless
the parties agree otherwise, such change in ground rent shall not exceed the
percentage change for the preceding three years in the Average Consumer Price
Index for all items, all urban consumers (CPI-U), as published by the Bureau of
Labor Statistics of the U.S. Department of Labor or such other instrument or
agency of the United States or of the Commonwealth as may be designated by the
General Assembly. The first of such years shall constitute the base year.

HISTORY: 1975, c. 363, § 55-79.03; 2019, c. 712.