Virginia law § 19.2-386.12 governs the sale of forfeited property, requiring sales to be conducted publicly or through authorized means, with proceeds directed to the state. It details the allocation of sale proceeds, expenses, and attorney's fees, ensuring proper handling of forfeited assets and associated costs. The law also specifies how expenses are paid and how any remaining funds are disbursed.
Forfeited property in Virginia is sold for cash through a public sale or other court-authorized means, with proceeds going to the state.
Expenses for custody, legal proceedings, and sale are paid from the sale proceeds or, if none, from the Criminal Fund by the Commonwealth.
Yes, parties in interest are entitled to reasonable attorney's fees and costs if the forfeiture proceeding is resolved in their favor, paid from the Criminal Fund.
Any residue after expenses and fees are paid is disbursed according to the provisions outlined in the law, typically to the state or relevant parties.