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Virginia Code Title 33.2. Highways and Other Surface Transportation Systems § 33.2-1020. Payment of certificates of deposit;  recordation of certain certificates;  notice to owner

Current as of January 01, 2025 | Updated by Findlaw Staff

A. A certificate of deposit shall be deemed and held for the purpose of this article to be payment into the custody of such court.  Payment against any certificate of deposit so issued and countersigned, when ordered by the court named therein, shall be paid by the State Treasurer on warrants of the Comptroller, issued on vouchers signed by the Commissioner of Highways.

B. A duplicate of each certificate of deposit so issued and countersigned shall be kept as a record in the office of the Commissioner of Highways and a copy thereof shall be filed with the State Treasurer.

C. The Commissioner of Highways shall, between 30 and 45 days prior to the date on which any certificate will be filed or recorded pursuant to this chapter, give notice to the owner or tenant, if known, of the freehold by certified or registered mail that such certificate will be filed or recorded with respect to such person's property.  Such notice shall contain the following language, as appropriate:

1. “Within 30 to 45 days of the date of this notice, a certificate of take shall be recorded in the land records of the circuit court”;  or

2. “Within 30 to 45 days of the date of this notice, a certificate of deposit shall be recorded in the land records of the circuit court.”

Such notice shall also state that upon recordation of the certificate, the defeasible title to the property shall transfer to the Commissioner of Highways and that the owner has the right to petition the court for distribution of the funds represented by the certificate, subject to any preexisting liens or other encumbrances upon the property.  Additionally, within four business days of the filing or recording of a certificate, the Commissioner of Highways shall give notice of such filing or recording to the owner or tenant, if known, of the freehold by providing a copy of such certificate by certified or registered mail.

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Cite this article: FindLaw.com - Virginia Code Title 33.2. Highways and Other Surface Transportation Systems § 33.2-1020. Payment of certificates of deposit;  recordation of certain certificates;  notice to owner - last updated January 01, 2025 | https://codes.findlaw.com/va/title-33-2-highways-and-other-surface-transportation-systems/va-code-sect-33-2-1020/

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