No such order or process, however, shall be issued until a bond, conforming with the requirements of § 8.01-537.1, is posted with the judge or magistrate, in a penalty at least double the estimated fair market value of the property claimed, payable to the defendant, with the additional condition to redeliver the property so seized to the defendant, or to the person from whose possession it was taken, if the right to the possession shall be adjudged against the plaintiff.

Terms Used In Virginia Code 8.01-115

  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Person: shall include individuals, a trust, an estate, a partnership, an association, an order, a corporation, or any other legal or commercial entity;

    6. See Virginia Code 8.01-2

  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237

Code 1950, § 8-587; 1977, cc. 230, 617; 1986, c. 341; 1993, c. 841.

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