Code of Virginia § 55.1-2236. Purchaser's rights under developer's foreclosure.
66 words·~1 min read·
/va/title-55-1/chapter-22/55-1-2236·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.
1981, c. 462, § 55-388; 1985, c. 517; 2019, c. 712 .