Virginia § 15.2-718 - Postponement of payment of certain assessments
Full text of Virginia Code of Virginia § 15.2-718 — Postponement of payment of certain assessments, with citation guidance and answers to common questions.
§ 15.2-718. Postponement of payment of certain assessments
The board may provide for the postponement of the payment of assessments made pursuant to the provisions of Article 2 (§ 15.2-2404 et seq.) of Chapter 24 of this title by any property owner at the election of the property owner. Full payment of the assessment plus accrued interest shall become due and payable at the time of the death of the owner or the last surviving joint owner who made such an election or at the time the property or any divided part is sold, devised, subdivided, or transferred in any way. The board may impose interest on the unpaid balance of such assessments at a rate not to exceed the judgment rate, but at a rate which may be different from that imposed on property owners making installment payments under § 15.2-2413.
1988, c. 532, § 15.1-686.5; 1997, c. 587.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 15.2-718
What does Code of Virginia § 15.2-718 cover?
Section 15.2-718 ("Postponement of payment of certain assessments") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 15.2-718?
A common citation format is "Code of Virginia § 15.2-718" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 15.2-718 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.