25.1-418 - Reimbursement of owner for certain expenses. - Virginia Statutes

§ 25.1-418. Reimbursement of owner for certain expenses.

Any state agency acquiring real property in connection with any program orproject, as soon as practicable after the first to occur of the date ofpayment of the purchase price or the date of deposit into court of funds tosatisfy the award of compensation in a condemnation proceeding to acquirereal property, shall reimburse the owner, to the extent the state agencydeems fair and reasonable, for expenses he necessarily incurred for (i)recording fees, transfer taxes and similar expenses incidental to conveyingsuch real property to the state agency; (ii) penalty costs for prepayment forany preexisting recorded mortgage entered into in good faith encumbering suchreal property; and (iii) the pro rata portion of real property taxes paidthat are allocable to a period subsequent to the first to occur of the dateof vesting title in the state agency or the effective date of possession ofsuch real property by the state agency.

(Code 1950, §§ 33-75.06, 33.1-132.6; 1970, c. 40, § 25-249; 1972, c. 738;2003, c. 940.)