§ 15.2-718. Postponement of payment of certain assessments
The board may provide for the postponement of the payment of assessments made pursuant to the provisions of Article 2 (§ 15.2-2404 et seq.) of Chapter 24 of this title by any property owner at the election of the property owner. Full payment of the assessment plus accrued interest shall become due and payable at the time of the death of the owner or the last surviving joint owner who made such an election or at the time the property or any divided part is sold, devised, subdivided, or transferred in any way. The board may impose interest on the unpaid balance of such assessments at a rate not to exceed the judgment rate, but at a rate which may be different from that imposed on property owners making installment payments under § 15.2-2413.
(1988, c. 532, § 15.1-686.5; 1997, c. 587.)
Sections: Previous 15.2-711 15.2-712 15.2-713 15.2-714 15.2-715 15.2-716 15.2-717 15.2-718 15.2-719 15.2-720 15.2-720.1 15.2-721 15.2-722 15.2-723 15.2-724 NextLast modified: April 16, 2009