SECTION 55-184.2. Form of sale agreement; notice of right to refund  

A sale agreement for the purchase of escheat property shall include a statement of the buyer's right to claim a refund pursuant to § 55-200 upon submission to the State Treasurer within 120 days of the sale of satisfactory evidence that the escheat property does not exist or was improperly escheated. The following form may be used:

Sale Agreement of Escheat Property

This agreement of sale made in triplicate this _____ day of __________, 20_____ between __________, Escheator (hereinafter known as Seller) and __________ (hereinafter known as Buyer) and __________ (hereinafter known as Agent).

WITNESS

That for and in consideration of the full purchase price of $__________ by cash/check in hand paid, receipt of which is hereby acknowledged, the Seller agrees to sell and the Buyer agrees to buy all that certain lot or parcel of land with all the appurtenances (if any) thereunto belonging and described as follows:

________________________________________

________________________________________

________________________________________

The seller agrees to obtain a state grant. It is hereby understood that GRANTS for lots, parcels and acreage sold pursuant to this agreement shall be without warranty and in accordance with § 55-200 of the Code of Virginia. The recovery of proceeds of each sale from the Commonwealth, less the expenses of sale and the escheator's fee, may be obtained if the Buyer, pursuant to § 55-200 of the Code of Virginia, submits satisfactory evidence to the State Treasurer within 120 days of the sale that the escheat property does not exist or was improperly escheated.

WITNESS the following signatures and seals made this _____ day of __________, 20_____.

__________ (SEAL)

__________ (SEAL)

Agent

__________ (SEAL)

Buyer

___________ (SEAL)

Escheator for

_________, Virginia,

Seller

1986, c. 141.