{"data":{"id":"us-va/va.-code-55.1-2535","jurisdiction":"us-va","citation":"Va. Code § 55.1-2535","heading":"Election of administrator not to receive property or to postpone taking possession of funds","body":"The administrator, after receiving reports of property deemed abandoned pursuant to this chapter, may decline to receive any property reported that he deems to have a value less than the cost of giving notice and holding sale, or he may, if he deems it desirable because of the small sum involved, postpone taking possession until a sufficient sum accumulates. Unless the holder of the property is notified to the contrary within 120 days after filing the report required under § 55.1-2524, the administrator shall be deemed to have elected to receive the custody of the property.1960, c. 330, § 55-210.23; 2019, c. 712.","path":["Title 55.1. Property and Conveyances","Subtitle V. Miscellaneous","Chapter 25. Virginia Disposition Of Unclaimed Property Act","Article 3. Procedural and Administrative Matters"],"source_url":"https://law.lis.virginia.gov/vacode/55.1-2535/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:17:29Z","sha256":"e358dbea1f558294dfaee174de765e016aa7e282f3a44ce8535343a345a98be4","source_id":"us-va","stale":true,"prev":"us-va/va.-code-55.1-2534","next":"us-va/va.-code-55.1-2536"},"notice":"GroundRules: Original legal text. Not legal advice."}