Va. Code § 55.1-2236

Current with changes from the 2024 legislative session through ch. 845

Section 55.1-2236 - Purchaser's rights under developer's foreclosure

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 recording of a nondisturbance clause, subordination agreement, or partial release of the lien as to that time-share sold to such purchaser.

Va. Code § 55.1-2236

1981, c. 462, § 55-388; 1985, c. 517; 2019, c. 712.

Added by Acts 2019 c. 712, § 1, eff. 10/1/2019.