2006 Code of Virginia § 46.2-1203 - Sale of vehicle at public auction; disposition of proceeds

46.2-1203. Sale of vehicle at public auction; disposition of proceeds.

If an abandoned motor vehicle is not reclaimed as provided for in 46.2-1202, the locality or its authorized agent shall, notwithstanding theprovisions of 46.2-617, sell it at public auction. The purchaser of themotor vehicle shall take title to the motor vehicle free of all liens andclaims of ownership of others, shall receive a sales receipt at the auction,and shall be entitled to apply to and receive from the Department acertificate of title and registration card for the vehicle. The sales receiptfrom the sale shall be sufficient title only for purposes of transferring thevehicle to a demolisher for demolition, wrecking, or dismantling, and in thatcase no further titling of the vehicle shall be necessary; however, suchdemolisher shall provide the Department acceptable documentation indicatingthat the vehicle has been demolished. From the proceeds of the sale of anabandoned motor vehicle the locality or its authorized agent shall reimburseitself for the expenses of the auction, the cost of towing, preserving, andstoring the vehicle which resulted from placing the abandoned motor vehiclein custody, and all notice and publication costs incurred pursuant to 46.2-1202. Any remainder from the proceeds of a sale shall be held for theowner of the abandoned motor vehicle or any person having security interestsin the vehicle, as their interests may appear, for 90 days, and then bedeposited into the treasury of the locality in which the abandoned motorvehicle was abandoned.

(1968, c. 421, 46.1-555.5; 1989, c. 727; 2004, c. 369.)