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the Code of Virginia
2016 Code of Virginia
Title 55 - Property and Conveyances
Chapter 21 - The Virginia Real Estate Time-Share Act
§ 55-388. Purchaser's rights under developer's foreclosure
Universal Citation:
VA Code § 55-388 (2016)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
The developer whose project is subject to an underlying blanket lien or encumbrance shall protect a nondefaulting purchaser from foreclosure or cancellation by the lien holder by securing from such lien holder or placing of record a nondisturbance clause, subordination agreement, or partial release of the lien as to that time-share sold to such purchaser.
1981, c. 462; 1985, c. 517.
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