§ 55-184.2. Form of sale agreement; notice of right to refund
A sale agreement for the purchase of escheat property shall include a statement of the buyer's right to claim a refund pursuant to § 55-200 upon submission to the State Treasurer within 120 days of the sale of satisfactory evidence that the escheat property does not exist or was improperly escheated. The following form may be used:
Sale Agreement of Escheat Property
This agreement of sale made in triplicate this . . . . . day of . . . . ., 20.
. . between . . . . . . . . . . . . . . . ., Escheator (hereinafter known as
Seller) and . . . . . . . . . . . . . . . . (hereinafter known as Buyer) and .
. . . . . . . . . . . . . . (hereinafter known as Agent).
WITNESS
That for and in consideration of the full purchase price of $ . . . . . . . .
. by cash/check in hand paid, receipt of which is hereby acknowledged, the
Seller agrees to sell and the Buyer agrees to buy all that certain lot or
parcel of land with all the appurtenances (if any) thereunto belonging and
described as follows: ............
............
............
The seller agrees to obtain a state grant. It is hereby understood that GRANTS
for lots, parcels and acreage sold pursuant to this agreement shall be
without warranty and in accordance with § 55-186.1 of the Code of Virginia.
The recovery of proceeds of each sale from the Commonwealth, less the expenses
of sale and the escheator's fee, may be obtained if the Buyer, pursuant to §
55-200 of the Code of Virginia, submits satisfactory evidence to the State
Treasurer within 120 days of the sale that the escheat property does not exist
or was improperly escheated.
WITNESS the following signatures and seals made this . . . . . day of . . . .
., 20. . .
. . . . . . . . . . . (SEAL)
. . . . . . . . . . . (SEAL)
Agent
. . . . . . . . . . (SEAL) . . . . . . . . . . (SEAL)
Escheator for Buyer
. . . . . . ., Virginia,
Seller
(1986, c. 141.)
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