{"law_id":"776111","section_number":"6.2-407","catch_line":"Lenders to furnish borrower with copy of appraisal","history":"1979, c. 101, \u00a7 6.1-2.9; 1988, c. 155; 1990, c. 7; 2010, c. 794.","order_by":null,"metadata":false,"court_decisions":{},"official_url":"http:\/\/law.lis.virginia.gov\/vacode\/6.2-407\/","refers_to":false,"url":"\/6.2-407\/","token":"6.2\/I\/4\/2\/6.2-407","structure":{"1":{"id":"2230","name":"Loans Secured By Lien On Real Estate.","identifier":"2","label":"article","url":"\/6.2\/I\/4\/2\/"},"2":{"id":"1635","name":"Certain Lending Practices","identifier":"4","label":"chapter","url":"\/6.2\/I\/4\/"},"3":{"id":"1190","name":"General Provisions","identifier":"I","label":"subtitle","url":"\/6.2\/I\/"},"4":{"id":"332","name":"Financial Institutions And Services","identifier":"6.2","label":"title","url":"\/6.2\/"}},"referred_to_by":[{"id":"774493","section_number":"6.2-1618","catch_line":"Escrow accounts","url":"\/6.2-1618\/"}],"edition_id":"11","section_id":"776111","structure_id":"2230","full_text":"Any lender that requires a borrower or prospective borrower to pay for an appraisal of residential real estate made in connection with a loan or application for a loan secured by the real estate shall, upon request by the borrower or prospective borrower, furnish free of charge the borrower or prospective borrower with a copy of the written appraisal or, if no written appraisal exists, with a statement of the appraised value within 10 business days of the receipt of such request.","text":{"0":{"id":"2502497","text":"Any lender that requires a borrower or prospective borrower to pay for an appraisal of residential real estate made in connection with a loan or application for a loan secured by the real estate shall, upon request by the borrower or prospective borrower, furnish free of charge the borrower or prospective borrower with a copy of the written appraisal or, if no written appraisal exists, with a statement of the appraised value within 10 business days of the receipt of such request.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":{"1":{"id":"2230","name":"Loans Secured By Lien On Real Estate.","identifier":"2","label":"article","url":"\/6.2\/I\/4\/2\/"},"2":{"id":"1635","name":"Certain Lending Practices","identifier":"4","label":"chapter","url":"\/6.2\/I\/4\/"},"3":{"id":"1190","name":"General Provisions","identifier":"I","label":"subtitle","url":"\/6.2\/I\/"},"4":{"id":"332","name":"Financial Institutions And Services","identifier":"6.2","label":"title","url":"\/6.2\/"}},"structure_contents":{"0":{"id":"785564","structure_id":"2230","section_number":"6.2-406","catch_line":"Disclosure of terms of mortgage application","url":"\/6.2-406\/","token":"6.2\/I\/4\/2\/6.2-406"},"1":{"id":"776111","structure_id":"2230","section_number":"6.2-407","catch_line":"Lenders to furnish borrower with copy of appraisal","url":"\/6.2-407\/","token":"6.2\/I\/4\/2\/6.2-407"},"2":{"id":"771323","structure_id":"2230","section_number":"6.2-408","catch_line":"Priority of interest on debts secured by mortgage or deed of trust","url":"\/6.2-408\/","token":"6.2\/I\/4\/2\/6.2-408"},"3":{"id":"791003","structure_id":"2230","section_number":"6.2-409","catch_line":"Addition of unpaid interest to principal balance","url":"\/6.2-409\/","token":"6.2\/I\/4\/2\/6.2-409"},"4":{"id":"785681","structure_id":"2230","section_number":"6.2-410","catch_line":"Borrowers not to be required to employ particular professionals","url":"\/6.2-410\/","token":"6.2\/I\/4\/2\/6.2-410"},"5":{"id":"768880","structure_id":"2230","section_number":"6.2-411","catch_line":"Requirements relating to insurance","url":"\/6.2-411\/","token":"6.2\/I\/4\/2\/6.2-411"},"6":{"id":"796502","structure_id":"2230","section_number":"6.2-412","catch_line":"Insurance coverage under certain loans not to exceed replacement value of improvements","url":"\/6.2-412\/","token":"6.2\/I\/4\/2\/6.2-412"},"7":{"id":"788819","structure_id":"2230","section_number":"6.2-413","catch_line":"Obligation of lender to reimburse unused mortgage guaranty insurance premiums","url":"\/6.2-413\/","token":"6.2\/I\/4\/2\/6.2-413"},"8":{"id":"776435","structure_id":"2230","section_number":"6.2-414","catch_line":"Obligation of person maintaining escrow account to pay taxes and insurance; penalties","url":"\/6.2-414\/","token":"6.2\/I\/4\/2\/6.2-414"},"9":{"id":"780159","structure_id":"2230","section_number":"6.2-415","catch_line":"Lender not to cancel insurance policy at time of refinancing under certain circumstances","url":"\/6.2-415\/","token":"6.2\/I\/4\/2\/6.2-415"},"10":{"id":"794960","structure_id":"2230","section_number":"6.2-416","catch_line":"Certain mortgages not to prohibit further encumbrance of real property","url":"\/6.2-416\/","token":"6.2\/I\/4\/2\/6.2-416"},"11":{"id":"772259","structure_id":"2230","section_number":"6.2-417","catch_line":"Mortgage or deed of trust to contain notice that debt is subject to call or modification on conveyance of property","url":"\/6.2-417\/","token":"6.2\/I\/4\/2\/6.2-417"},"12":{"id":"778876","structure_id":"2230","section_number":"6.2-418","catch_line":"Property owner entitled to written statement of payoff amount","url":"\/6.2-418\/","token":"6.2\/I\/4\/2\/6.2-418"},"13":{"id":"794062","structure_id":"2230","section_number":"6.2-419","catch_line":"Disclosure of terms of assumption","url":"\/6.2-419\/","token":"6.2\/I\/4\/2\/6.2-419"},"14":{"id":"768243","structure_id":"2230","section_number":"6.2-420","catch_line":"Prepayment penalty not to be collected in certain circumstances","url":"\/6.2-420\/","token":"6.2\/I\/4\/2\/6.2-420"},"15":{"id":"777285","structure_id":"2230","section_number":"6.2-421","catch_line":"Certain contracts to permit prepayment; amount of prepayment penalty","url":"\/6.2-421\/","token":"6.2\/I\/4\/2\/6.2-421"},"16":{"id":"786356","structure_id":"2230","section_number":"6.2-422","catch_line":"Prepayment penalty for loan secured by home occupied by borrower","url":"\/6.2-422\/","token":"6.2\/I\/4\/2\/6.2-422"},"17":{"id":"773210","structure_id":"2230","section_number":"6.2-423","catch_line":"Prepayment of loans secured by certain subordinate mortgages or deeds of trust; rebates for unearned interest","url":"\/6.2-423\/","token":"6.2\/I\/4\/2\/6.2-423"}},"previous_section":{"id":"785564","structure_id":"2230","section_number":"6.2-406","catch_line":"Disclosure of terms of mortgage application","url":"\/6.2-406\/","token":"6.2\/I\/4\/2\/6.2-406"},"next_section":{"id":"771323","structure_id":"2230","section_number":"6.2-408","catch_line":"Priority of interest on debts secured by mortgage or deed of trust","url":"\/6.2-408\/","token":"6.2\/I\/4\/2\/6.2-408"},"references":false,"formats":{"txt":"\/6.2-407.txt","json":"\/6.2-407.json","xml":"\/6.2-407.xml"},"dublin_core":{"Title":"Lenders to furnish borrower with copy of appraisal","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-407","Relation":"Code of Virginia"},"plain_text":"                                 CODE OF VIRGINIA\n\nLENDERS TO FURNISH BORROWER WITH COPY OF APPRAISAL (\u00a7 6.2-407)\n\nAny lender that requires a borrower or prospective borrower to pay for an\nappraisal of residential real estate made in connection with a loan or\napplication for a loan secured by the real estate shall, upon request by the\nborrower or prospective borrower, furnish free of charge the borrower or\nprospective borrower with a copy of the written appraisal or, if no written\nappraisal exists, with a statement of the appraised value within 10 business\ndays of the receipt of such request.\n\nHISTORY: 1979, c. 101, \u00a7 6.1-2.9; 1988, c. 155; 1990, c. 7; 2010, c. 794."}