Virginia Code 55.1-1700: Law of emblements
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In all cases, the right to emblements shall be as at common law, provided, however, that in any sale of land under a deed of trust or mortgage, such sale shall be made subject to the right and interest of a tenant in any crop planted by him under a bona fide lease for no more than one year, entered into by him with the mortgagor after the execution of such deed of trust or mortgage, but during such time as the mortgagor is allowed to remain in possession of the mortgaged premises and before the premises is advertised for sale under such deed of trust, or under an order in an action brought for the foreclosure of such deed of trust or mortgage.
Terms Used In Virginia Code 55.1-1700
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
Code 1919, § 5540; 1928, p. 1146; 1938, p. 762; Code 1950, § 55-249; 2019, c. 712.