Source: https://law.lis.virginia.gov/admincodeexpand/title1/agency75/chapter30/
Timestamp: 2020-01-25 18:15:02
Document Index: 288648143

Matched Legal Cases: ['§ 55', '§ 4', '§ 5', '§ 6', '§ 55', '§ 8', '§ 2', '§ 2', '§ 12']

1VAC75-30-40. Annual reporting requirement for local government treasurers.
An Annual Escheat Report shall be submitted by each local government treasurer, director of finance, or other designated local government official to the appointed escheator for that locality and to the agency by May 31 of each year for the calendar year just ended. This report is required even if there are no real property parcels to be reported. The report shall be prepared on the appropriate form, or in an approved format, and shall be submitted on either hard copy or an acceptable diskette in a file layout and format approved by the agency. The report shall be certified as to its accuracy by the commissioner of revenue or designated local official prior to the May 31 submission date.
The local government treasurer, director of finance, or other designated local government official shall include in the Annual Escheat Report all real properties pursuant to § 55-171 of the Code of Virginia.
Derived from VR640-04-1 § 4, eff. July 1, 1992; amended, Virginia Register Volume 13, Issue 17, eff. June 11, 1997.
1VAC75-30-50. Annual reporting requirements for escheators.
Escheators shall be required to file a report with the agency by March 1 of each year, for the calendar year just ended, summarizing escheat activity for that period. The required report shall include, but not be limited to, (i) information about any litigation occurring during the period and the status of such litigation, (ii) the status of any collection proceedings, (iii) the status of any real estate parcels removed from the escheat process subsequent to an inquest, (iv) the status of any other real estate parcels under the escheator's control, and (v) any other information which should be brought to the agency's attention that the escheator deems to be relevant to the escheat process. The escheator shall provide, upon written request from the agency, any additional data relating to this report within 30 days of such request.
Derived from VR640-04-1 § 5, eff. July 1, 1992.
Derived from VR640-04-1 § 6, eff. July 1, 1992; amended, Virginia Register Volume 14, Issue 25, eff. September 30, 1998.
1VAC75-30-80. Defaulting purchasers.
If a sale of escheated property is not consummated for any reason constituting a default by the purchaser pursuant to § 55-187 of the Code of Virginia, the escheator shall notify the purchaser in writing that the purchaser's default may result in (i) the forfeiture of any deposit and the resale of the escheated property at the next sale of escheated property for that locality, (ii) a suit to enforce specific performance of the sale agreement, (iii) resale of the property and a suit for any damages resulting from the subsequent sale at a lesser purchase price, (iv) any other remedy at law or in equity available to a seller against a defaulting purchaser of real estate, and (v) cash or a certified check being required from the purchaser for any future transaction involving the purchase of escheated property. The notification shall also inform the purchaser of the right to have an administrative review of actions taken by the escheator or the agency. Before an escheator may bring a suit against a defaulting purchaser, express authority to do so in each case shall be obtained from the Office of the Attorney General of the Commonwealth of Virginia and approval of anticipated expenses of litigation shall be obtained from the agency.
Derived from VR640-04-1 § 8, eff. July 1, 1992.
1VAC75-30-120. Fees charged for requests under the Freedom of Information Act (§ 2.1-340 et seq. of the Code of Virginia).
Fees shall be computed on all requests for information under the Freedom of Information Act, Chapter 21 (§ 2.1-340 et seq.) of Title 2.1 of the Code of Virginia, related to the escheat process. The fee assessed shall be determined based on the actual time of the employee performing the duties necessary to comply with the request and other costs incurred. Other costs include copies, postage, and any other cost directly associated with providing the requested information.
If there is an amount due the agency and it is in excess of 30 days past due, current and future requests for information will be withheld until the outstanding amount is paid to the agency. Continued failure to pay fees when due may result in the agency requesting payment in advance.
Derived from VR640-04-1 § 12, eff. July 1, 1992.
Forms (1VAC75-30)
Annual Escheat Report, #ESH-1 (3/93).