Virginia Code 58.1-3926: When statement to beneficiary prior to delinquency required
The beneficiary in any deed of trust or mortgage, or other person interested in the lands or lots conveyed thereby, may give to the treasurer of any county or city notice in writing that he is the beneficiary under a lien, clearly designating in such notice the lands affected by such lien and the names of the grantor in such deed or mortgage, at any time during the period for the collection of taxes for any year. If such notice is given, the treasurer, at least ten days before the date of his report of delinquent taxes for the current collection year, shall make and mail to the person giving such notice a statement showing whether the taxes on the lands or lots specified in such notice have been paid, and stating the amount thereof, including penalties.
Terms Used In Virginia Code 58.1-3926
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- City: means an independent incorporated community which became a city as provided by law before noon on July 1, 1971, or which has within defined boundaries a population of 5,000 or more and which has become a city as provided by law. See Virginia Code 1-208
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Grantor: The person who establishes a trust and places property into it.
- in writing: include any representation of words, letters, symbols, numbers, or figures, whether (i) printed or inscribed on a tangible medium or (ii) stored in an electronic or other medium and retrievable in a perceivable form and whether an electronic signature authorized by Chapter 42. See Virginia Code 1-257
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
Code 1950, § 58-982; 1984, c. 675.