Virginia's law allows individuals or entities to recover certain losses from the Motor Vehicle Transaction Recovery Fund following a final court judgment related to fraud or violations by licensed motor vehicle dealers. Claims must be filed within specific timeframes and meet certain criteria, including evidence of compliance and court awards. The Fund may also cover attorney fees and court costs if properly documented.
Eligible claimants include retail purchasers, licensed or registered motor vehicle dealers who contribute to the Fund, and lessees of leased vehicles from contributing dealers.
Claims must be filed no sooner than 30 days and no later than 12 months after the judgment becomes final.
The Fund can cover losses due to fraud or violations by dealers, including unpaid judgment amounts, attorney fees, and court costs if properly documented.
Yes, if the final judgment includes awards for attorney fees and court costs, and the claimant has submitted detailed and itemized affidavits to the court.