2006 Code of Virginia § 55-184.2 - Form of sale agreement; notice of right to refund

55-184.2. Form of sale agreement; notice of right to refund.

A sale agreement for the purchase of escheat property shall include astatement of the buyer's right to claim a refund pursuant to 55-200 uponsubmission to the State Treasurer within 120 days of the sale of satisfactoryevidence that the escheat property does not exist or was improperlyescheated. The following form may be used:

SaleAgreementofEscheatProperty
Thisagreementofsalemadeintriplicatethis.....dayof.....,20.
..between................,Escheator(hereinafterknownas
Seller)and................(hereinafterknownasBuyer)and.
..............(hereinafterknownasAgent).
WITNESS
Thatforandinconsiderationofthefullpurchasepriceof$........
.bycashinhandpaid,receiptofwhichisherebyacknowledged,theSeller
agreestosellandtheBuyeragreestobuyallthatcertainlotorparcelof
landwithalltheappurtenances(ifany)thereuntobelonginganddescribedas
follows:.....................................................................
..............................................................................
..............................................................................
Theselleragreestoobtainastategrant.ItisherebyunderstoodthatGRANTS
forlots,parcelsandacreagesoldpursuanttothisagreementshallbe
withoutwarrantyandinaccordancewith55-186.1oftheCodeofVirginia.
TherecoveryofproceedsofeachsalefromtheCommonwealth,lesstheexpenses
ofsaleandtheescheator'sfee,maybeobtainediftheBuyer,pursuantto
55-200oftheCodeofVirginia,submitssatisfactoryevidencetotheState
Treasurerwithin120daysofthesalethattheescheatpropertydoesnotexist
orwasimproperlyescheated.
WITNESSthefollowingsignaturesandsealsmadethis.....dayof....
.,20...
...........(SEAL)
...........(SEAL)
Agent
..........(SEAL)..........(SEAL)
EscheatorforBuyer
.......,Virginia,
Seller

(1986, c. 141.)