Virginia Code 41.1-18: Same; subsequent proceedings; disposition of proceeds of sale
Thereafter the proceedings shall conform, mutatis mutandis, to the provisions of Article 4 (§ 58.1-3965 et seq.) of Chapter 39 of Title 58.1 but on the motion of any party the sale of such land shall be public. From the proceeds of sale, after the expenses of suit and other costs incident to the sale, the person instituting the proceeding shall be reimbursed his deposit and costs expended up to the time the proceeding is docketed; but if such proceeds be insufficient to pay the expenses of suit and other costs incidental to the sale, the deficiency shall be paid by the person, county or city instituting the suit. The remainder left from the proceeds of sale after the payment of costs, expenses of suit and other expenses of sale shall be paid into the treasury of the county or city, as the case may be.
Terms Used In Virginia Code 41.1-18
- 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
- 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
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
Code 1950, § 41-87; 1952, c. 185; 1970, c. 291.