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49 chapters · 915 sections in this title.
22 V.I.C. § 562 Mortgage loans limited by property value
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(a) No mortgage loan or investment therein upon any one parcel of real property shall exceed in amount at the time of acquisition:(1) seventy-five percent of the fair value of the property if the property is a dwelling house primarily intended for occupancy by one family and the …
22 V.I.C. § 563 “Encumbrance” defined
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(a) Real property shall not be deemed to be encumbered within the meaning of section 561 of this title by reason of the existence of:(1) instruments reserving mineral, oil, timber or similar rights, rights of way, sewer rights, or rights in walls;(2) liens for taxes or assessment…
22 V.I.C. § 564 Appraisal of property; insurance; limit of loan
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(a) The fair value of property shall be determined by appraisal by a competent appraiser at the time of the making or acquiring of a mortgage loan or investing in a contract for the deed thereon, except, that as to bonds or notes secured by mortgage or trust deed guaranteed or in…
22 V.I.C. § 565 Auxiliary chattel mortgages
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(a) In connection with a mortgage loan on the security of real property designed and used primarily for residential purposes only, acquired pursuant to section 561 of this title, an insurer may loan or invest an amount not exceeding 20 percent of the amount loaned on or invested …
