19.2-386.12 - Sale of forfeited property. - Virginia Statutes

§ 19.2-386.12. Sale of forfeited property.

A. Any sale of forfeited property shall be made for cash, after dueadvertisement. The sale shall be by public sale or other commerciallyfeasible means authorized by the court in the order of forfeiture and shallvest in the purchaser a clear and absolute title to the property sold subjectto the rights of any lien holder whose interest is not forfeited. Theproceeds of sale, and whatever may be realized on any bond given under §19.2-386.6, and any money forfeited shall be paid over to the state treasuryinto a special fund of the Department of Criminal Justice Services inaccordance with § 19.2-386.14.

B. In all cases of forfeiture under this section, the actual expensesincident to the custody, preservation, and management of the seized propertyprior to forfeiture, the actual expenses incident to normal legal proceedingsto perfect the Commonwealth's interest in the seized property throughforfeiture, and the actual expenses incident to the sale thereof, includingcommissions, shall be taxed as costs and shall be paid to the person orpersons who incurred these costs out of the net proceeds from the sale ofsuch property. If there are no proceeds, the actual expenses shall be paid bythe Commonwealth from the Criminal Fund. Actual expenses in excess of theavailable net proceeds shall be paid by the Commonwealth from the CriminalFund. The party or parties in interest to any forfeiture proceedingcommenced under this section shall be entitled to reasonable attorney's feesand costs if the forfeiture proceeding is terminated in favor of such partyor parties. Such fees and costs shall be paid by the Commonwealth from theCriminal Fund.

The residue, if any, shall be paid and disbursed as provided in subsection Aof § 19.2-386.10 and § 19.2-386.14 and regulations promulgated by theCriminal Justice Services Board.

(1989, c. 690; 1991, c. 560.)