Virginia Code 8.2A-203: (Effective until July 1, 2025) Seals inoperative
Current as of: 2024 | Check for updates
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The affixing of a seal to a writing evidencing a lease contract or an offer to enter into a lease contract does not render the writing a sealed instrument and the law with respect to sealed instruments does not apply to the lease contract or offer.
Terms Used In Virginia Code 8.2A-203
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Virginia Code 8.2A-103
- Lease contract: means the total legal obligation that results from the lease agreement as affected by this title and any other applicable rules of law. See Virginia Code 8.2A-103
1991, c. 536.
The affixing of a seal to a record evidencing a lease contract or an offer to enter into a lease contract does not render the record a sealed instrument and the law with respect to sealed instruments does not apply to the lease contract or offer.
1991, c. 536; 2024, c. 652.