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2025 Virgin Islands Code
Title 22 - Insurance
Chapter 21 - Assets and Liabilities
§ 518. Valuation of purchase money mortgages
Universal Citation:
V.I. Code tit. 22, § 518 (2025)
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Purchase money mortgages shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or 90 percent of the fair value of such real property, whichever is less.
History
—Added Mar. 29, 1968, No. 2126, § 1, Sess. L. 1968, Pt. I, p. 52.
Annotations
State Notes
Research References & Practice Aids
Hierarchy Notes:22 V.I.C.
22 V.I.C. Ch. 21
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