Deposits to be held in escrow

Va. Code Ann. § 55.1-2020
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
Any deposit made with a reservation to purchase or a contract to purchase shall be held in escrow in a separate fund for such deposits designated as such until the deed for which a deposit was made is delivered to the depositor. 1973, c. 375, § 55-79.21:1; 2019, c. 712 .
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/55.1-2020/Fetched: 10/16/2026

Starting a business in Virginia? Virginia LLC guide: costs and requirements