19.2-386.6 - Bond to secure possession. - Virginia Statutes

§ 19.2-386.6. Bond to secure possession.

If the owner or lien holder of the named property desires to obtainpossession thereof before the hearing on the information filed against thesame, such property shall be appraised by the clerk of the court where suchinformation is filed. The clerk shall promptly cause the property to beappraised at its fair cash value, and forthwith make return thereof inwriting to the court. Any appraisal fee shall be taxed as costs as providedin § 19.2-386.12. Upon the return of the appraisal, the owner or lien holdermay give a bond payable to the Commonwealth, in a penalty of the amount equalto the appraised value of the property plus the court costs which may accrue,with security to be approved by the clerk and conditioned for the performanceof the final judgment of the court, on the trial of the information. Afurther condition shall be that, if upon the hearing on the information, thejudgment of the court is that such property, or any part thereof, or suchinterest and equity as the owner or lien holder may have therein, isforfeited, judgment may thereupon be entered against the obligors on suchbond for the penalty thereof, without further or other proceedings againstthem thereon, to be discharged by the payment of the appraised value of theproperty so seized and forfeited, and costs. Upon such judgment, executionmay issue, on which the clerk shall endorse, "No security to be taken."Upon giving of the bond, the property shall be delivered to the owner or lienholder.

(1989, c. 690.)