Virginia § 25.1-315 - Awards in greater amounts than deposit; interest
Full text of Virginia Code of Virginia § 25.1-315 — Awards in greater amounts than deposit; interest, with citation guidance and answers to common questions.
§ 25.1-315. Awards in greater amounts than deposit; interest
A. If the amount of an award in a condemnation proceeding is greater than that deposited with the court or represented by a certificate of deposit, the excess amount, together with interest accrued on such excess amount, shall be paid into court for the person or persons entitled thereto. The clerk shall deposit such funds to the credit of the court in an account of a type that bears interest.
B. Interest, compounded daily, shall accrue on the excess amount at not less than the judgment rate of interest as set forth in § 8.01-382, computed from the date of such deposit to the date of payment into court and be paid into court for the person or persons entitled thereto. However, any interest that accrued before July 1, 1970, shall be paid at the rate of five percent, and interest accruing thereafter and prior to July 1, 1981, shall be paid at the rate of six percent, and any interest accruing thereafter and prior to July 1, 1994, shall be paid at the rate of eight percent.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 25.1-315
What does Code of Virginia § 25.1-315 cover?
Section 25.1-315 ("Awards in greater amounts than deposit; interest") 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 § 25.1-315?
A common citation format is "Code of Virginia § 25.1-315" (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 § 25.1-315 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.