25.1-305 - Authorized condemnor to make payment into court or file certificate of deposit before entering upon land. - Virginia Statutes

§ 25.1-305. Authorized condemnor to make payment into court or filecertificate of deposit before entering upon land.

A. Before entering upon or taking possession of property, the authorizedcondemnor shall either:

1. Pay into the court wherein condemnation proceedings are pending, or are tobe instituted, such sum as is required by subsection B; or

2. File with the court wherein condemnation proceedings are pending, or areto be instituted, a certificate of deposit issued by the authorized condemnorfor such sum as is required by subsection B, which shall be deemed and heldfor the purpose of this chapter to be payment into the custody of such court.

B. The amount to be paid into the court as provided in subdivision A 1 orrepresented by a certificate of deposit as provided in subdivision A 2 shallbe the amount that the authorized condemnor estimates to be the fair value ofthe land taken, or interest therein sought, and damage done, which estimateshall be based on a bona fide appraisal if required by § 25.1-417.

C. If the condemning authority makes a payment into court as provided insubdivision A 1, it shall also record a certificate of take as provided in §25.1-307.

D. Payment against a certificate of deposit, when ordered by the court namedtherein, shall be paid by the authorized condemnor.

(2003, c. 940.)