Virginia Code Title 55.1. Property and Conveyances § 55.1-2420. Form of sale agreement; notice of right to refund

A sale agreement for the purchase of escheated property shall include a statement of the purchaser's right to claim a refund pursuant to § 55.1-2438 upon submission to the State Treasurer within 120 days of the sale of satisfactory evidence that the escheated property does not exist or was improperly escheated. The following form may be used:

This agreement of sale made in triplicate this ..... day of .........., 20.........., between.........., Escheator (hereinafter known as Seller), and .......... (hereinafter known as Purchaser) 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 Purchaser agrees to buy all that certain lot or parcel of land with all the appurtenances (if any) thereunto belonging and described as follows:

........................................

........................................

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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 § 55.1-2422 of the Code of Virginia. The recovery of proceeds of each sale from the Commonwealth, less the expenses of sale and the escheator's commission, may be obtained if the Purchaser, pursuant to § 55.1-2438 of the Code of Virginia, submits satisfactory evidence to the State Treasurer within 120 days of the sale that the escheated property does not exist or was improperly escheated.

WITNESS the following signatures and seals made this .... day of.........., 20...........

.................... (SEAL)

.................... (SEAL)

Agent

.................... (SEAL)

Purchaser

.................... (SEAL)

Escheator for

...................., Virginia,

Seller