Virginia Code 55.1-1421: How trustee or mortgagee relieved from the forfeiture.
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Any mortgagee or trustee of lands subject to a proceeding filed pursuant to § 55.1-1419 may, within 12 months after execution executed, pay the rent and all arrears, with interest and costs, or file a complaint for relief against such forfeiture; and thereupon may be relieved against it, on the same terms and conditions as the owner of such lands or tenements would be entitled to.
Terms Used In Virginia Code 55.1-1421
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Trustee: A person or institution holding and administering property in trust.
Code 1919, § 5532; Code 1950, § 55-241; 2019, c. 712.