                                 CODE OF VIRGINIA

DISPOSITION OF LANDS WHILE CLAIM IS PENDING, IF NOT COMMITTED TO CLAIMANT (§
55.1-2413)

If the escheator leases property remaining in his hands, he shall notify and
transmit a copy of such lease, if in written form, to the State Treasurer within
30 days and remit the rent proceeds to the State Treasurer as they are received.
The escheator shall be answerable to the claimant or to the Commonwealth, as
determined by the court, for the rents and profits of such land and the
escheator shall ensure that such land be kept free from waste and destruction.
Where the escheator deems that reasonable business practice would require that
insurance be obtained on such income-producing property, he shall obtain
insurance coverage on the escheated property after having first obtained the
approval of the State Treasurer.

HISTORY: Code 1919, § 501; Code 1950, § 55-180; 1977, c. 583; 1982, c. 486;
1984, c. 315; 2019, c. 712.