Virginia § 55.1-1205 - Prepaid rent; maintenance of escrow account
Full text of Virginia Code of Virginia § 55.1-1205 — Prepaid rent; maintenance of escrow account, with citation guidance and answers to common questions.
§ 55.1-1205. Prepaid rent; maintenance of escrow account
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.
2002, c. 531, § 55-248.7:1; 2015, c. 596; 2017, c. 730; 2019, c. 712.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 55.1-1205
What does Code of Virginia § 55.1-1205 cover?
Section 55.1-1205 ("Prepaid rent; maintenance of escrow account") 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 § 55.1-1205?
A common citation format is "Code of Virginia § 55.1-1205" (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 § 55.1-1205 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.