Final answer:
In Virginia, if a lease is not granted, the least correct statement is that 'the landlord may keep $10 of the deposit for the time and trouble,' as this is not specified in the Landlord-Tenant Act. The tenant is generally entitled to a full refund, and the timeframe would need to be verified by the current law.
Step-by-step explanation:
A prospective tenant who pays an application deposit but does not get a lease in Virginia should expect a refund of that deposit within a certain period according to the state's Landlord-Tenant Act. The least correct statement is the landlord may keep $10 of the deposit for the time and trouble, as the Virginia Landlord-Tenant Act does not specify that a landlord can retain any portion of an application deposit for 'time and trouble' if no lease is granted.
If the lease is not executed, the potential tenant is typically entitled to a full refund. The refund should be made in a timely manner, but the specific timeframe (whether it's 10 or 20 days) is governed by the law, which can vary and may need to be looked up for the current standard. It is prudent for tenants and landlords to be familiar with the specific requirements and procedures outlined within the Virginia Landlord-Tenant Act to ensure compliance.