Virginia § 55.1-1205 Prepaid rent; maintenance of escrow account

Virginia Statutes

§ 55.1-1205 — Prepaid rent; maintenance of escrow account

Virginia § 55.1-1205

JurisdictionVirginia

Title 55.1Property and Conveyances

Subtitle IIIRental Conveyances

Ch. 12Virginia Residential Landlord and Tenant Act

Art. 1General Provisions

This text of Virginia § 55.1-1205 (Prepaid rent; maintenance of escrow account) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 55.1-1205 (2026).

Text

A landlord and a tenant may agree in a rental agreement that the tenant pay prepaid rent. If a landlord receives prepaid rent, it shall be placed in an escrow account in a federally insured depository authorized to do business in Virginia by the end of the fifth business day following receipt and shall remain in the account until such time as the prepaid rent becomes due. Unless the landlord has otherwise become entitled to receive any portion of the prepaid rent, it shall not be removed from the escrow account required by this section without the written consent of the tenant.

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A landlord and a tenant may agree in a rental agreement that the tenant pay prepaid rent. If a landlord receives prepaid rent, it shall be placed in an escrow account in a federally insured depository authorized to do business in Virginia by the end of the fifth business day following receipt and shall remain in the account until such time as the prepaid rent becomes due. Unless the landlord has otherwise become entitled to receive any portion of the prepaid rent, it shall not be removed from the escrow account required by this section without the written consent of the tenant.