Virginia Administrative Code
Title 1 - ADMINISTRATION
Agency 75 - DEPARTMENT OF THE TREASURY
Chapter 30 - DEFINITIONS
Section 1VAC75-30-100 - Commission basis for the escheator and the auctioneer
Universal Citation: 1 VA Admin Code 75-30-100
Current through Register Vol. 41, No. 3, September 23, 2024
The commissions paid to the escheator (10%) and the auctioneer (5.0%) are determined based on the proceeds collected from the sales of escheated property. If a partial payment is collected and the purchaser fails to complete the sales transaction, the purchaser forfeits the partial payment to the State Treasurer and the commissions paid shall be based on the partial payment only. The commissions base does not include recording fees. Reimbursable expenses of the escheator and auctioneer are in addition to the commissions paid.
Statutory Authority
§ 55-200.1 of the Code of Virginia.
Disclaimer: These regulations may not be the most recent version. Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
