reglab/statecodes huggingface dataset:
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 5 - Personal Representatives and Administration of Estates › § 64.2-545. Transfer of assets to administrator de bonis non; administration of assets

A. If the powers of a personal representative have ceased and there is an administrator de bonis non of the decedent's estate, the personal representative may pay and deliver to such administrator de bonis non, with the consent of the court or clerk before which the administrator de bonis non qualified, the assets of the decedent, whether converted or not, for which such former personal representative is responsible. The court or clerk shall not consent to the payment and delivery of such assets to the administrator de bonis non unless the administrator de bonis non gives a bond sufficient to cover the additional assets to be paid or delivered to him. The administrator de bonis non shall administer such assets paid or delivered to him as assets received in due course of administration. The administrator de bonis non shall provide a receipt for such assets in the form of a voucher in the settlement of the accounts of the former personal representative. The former personal representative shall not be liable for the assets lawfully paid or delivered to the administrator de bonis non.
B. The administrator de bonis non may bring an action against the former personal representative or his estate for mismanagement or to compel the payment and delivery to the administrator de bonis non of the assets of the decedent that were wrongfully converted by the former personal representative.
C. Nothing contained in this section shall (i) limit the liability of the former personal representative and his sureties for any breach of duty committed by him with respect to the assets of the decedent's estate before they were paid over and delivered to the administrator de bonis non by him or (ii) bar the beneficiaries, creditors, or any other parties in interest from bringing any action against the former personal representative for his acts or omissions while serving as the personal representative.
Code 1950, § 64-156; 1968, c. 656, § 64.1-166; 1991, c. 58; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 5 - Personal Representatives and Administration of Estates › § 64.2-546. Action against representative of executor for waste

An action may be maintained for waste of a decedent's estate against (i) the personal representative of a person who, without any lawful authority, assumes to act as an executor or (ii) the personal representative of a rightful executor or administrator.
Code 1950, § 64-157; 1968, c. 656, § 64.1-167; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 5 - Personal Representatives and Administration of Estates › § 64.2-547. Revival of judgment by administrator de bonis non

If an action is pending or a judgment has been rendered in the Commonwealth in favor of a personal representative upon a contract made during or for a cause of action that accrued in the lifetime of the decedent, the administrator de bonis non of the decedent may petition for execution upon such judgment, or to revive the pending action if the personal representative who brought the action could have maintained the same.
Code 1950, § 64-158; 1968, c. 656, § 64.1-168; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 5 - Personal Representatives and Administration of Estates › § 64.2-548. Action against surety of personal representative; procedure

A. An action may be brought against the surety of the personal representative for failure of the personal representative to discharge his duties faithfully if an execution on a judgment against a personal representative is returned unsatisfied.
B. The surety may plead any pleas and offer any evidence that the personal representative could have made or offered in an action against the surety of the personal representative for a devastavit.
Code 1950, §§ 64-159, 64-160; 1968, c. 656, §§ 64.1-169, 64.1-170; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 5 - Personal Representatives and Administration of Estates › § 64.2-549. Liability of personal representative or his surety

The liability of a personal representative or his surety shall not exceed the assets of the decedent by reason of any omission or mistake in pleading or false pleading by such representative.
Code 1950, § 64-160; 1968, c. 656, § 64.1-170; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 5 - Personal Representatives and Administration of Estates › § 64.2-550. Proceedings for receiving proof of debts by commissioners of accounts

A. A commissioner of accounts who has for settlement the accounts of a personal representative of a decedent shall, when requested to so do by a personal representative or any creditor, legatee, or distributee of a decedent, or may at any other time determined by the commissioner of accounts, even though no accounting is pending, conduct a hearing for receiving proof of debts and demands against the decedent or the decedent's estate. The commissioner of accounts shall publish notice of the hearing at least 10 days before the date set for the hearing in a newspaper published or having general circulation in the jurisdiction where the personal representative qualified. and shall also post a notice of the time and place of the hearing at the front door of the courthouse of the court of the jurisdiction where the personal representative qualified. The commissioner of accounts may adjourn the hearing from time to time as necessary.
B. The personal representative shall give written notice by personal service or by regular, certified, or registered mail at least 10 days before the date set for the hearing to any claimant of a disputed claim that is known to the personal representative at the last address of the claimant known to the personal representative. The notice shall inform the claimant of his right to attend the hearing and present his case, his right to obtain another hearing date if the commissioner of accounts finds the initial date inappropriate, and the fact that the claimant will be bound by any adverse ruling. The personal representative shall also inform the claimant of his right to file exceptions with the circuit court in the event of an adverse ruling. The personal representative shall file proof of any mailing or service of notice with the commissioner of accounts.
C. The commissioner of accounts may direct the personal representative, the claimant, or both of them to institute a proceeding in the circuit court to establish the validity or invalidity of any claim or demand that the commissioner of accounts deems not otherwise sufficiently proved.
Code 1950, §§ 64-161, 64-162; 1966, c. 335; 1968, cc. 385, 656, §§ 64.1-171, 64.1-172; 1981, c. 484; 1989, c. 492; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 5 - Personal Representatives and Administration of Estates › § 64.2-551. Account of debts by commissioners of accounts

The commissioner of accounts, within 60 days from the date of the hearing for receiving proof of debts and demands against the decedent or the decedent's estate or the date of the last adjournment of any such hearing, shall make out an account of all such debts or demands as have been sufficiently proved, stating separately the debts and demands of each class.
Code 1950, § 64-162; 1966, c. 335; 1968, c. 656, § 64.1-172; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 5 - Personal Representatives and Administration of Estates › § 64.2-552. How claims filed before commissioners of accounts; tolling of limitations period

A. Any person who seeks to prove that he has a debt or demand against the decedent or the decedent's estate shall file his claim in writing with the commissioner of accounts, who shall endorse upon it the date of the filing and sign the endorsement in his official character.
B. If the commissioner of accounts recommends in writing the recovery or enforcement of a claim for a debt or demand against the decedent or the decedent's estate, the filing of such claim with the commissioner of accounts pursuant to subsection A shall toll any limitations period that would otherwise bar an action for the recovery or enforcement of the claim or bar the filing of such claim until the termination of the proceedings commenced under § 64.2-550.
Code 1950, § 64-163; 1968, c. 656, § 64.1-173; 1989, c. 492; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 5 - Personal Representatives and Administration of Estates › § 64.2-553. When court to order payment of debts

A. Upon confirmation of a report of the accounts of any personal representative and of the debts and demands against the decedent's estate pursuant to Chapter 12 (§ 64.2-1200 et seq.), the court shall order that so much of the estate in the possession of the personal representative as is proper be applied to the payment of such debts and demands. The court, in its discretion, may order that a portion of the estate be reserved to pay all or a proportion of a claim of a surety for the decedent or any other contingent claim against the estate, or to pay all or a proportion of any other claim not finally passed upon, provided that creditors of the same class shall be paid in the same proportion.
B. For any claim allowed subsequent to any dividend where the court ordered that a portion of the estate be reserved to pay such a claim, the court shall order that the claim be paid from the estate in the possession of the personal representative, regardless of the existence of any debt or demand of superior dignity for which no reservation has been ordered. The claim shall be paid in the same proportion as creditors of the same class, provided, however, that whether there be enough reserved to pay the claim pursuant to this subsection shall not affect any dividend already paid.
C. If there are assets remaining in the possession of the personal representative after claims are paid pursuant to subsections A and B, or if further assets come into the possession of the personal representative, such surplus shall be divided among all the decedent's creditors who have proved debts and demands against the decedent's estate in the order and proportion in which they may be entitled.
Code 1950, §§ 64-164, 64-165, 64-166; 1968, c. 656, §§ 64.1-174, 64.1-175, 64.1-176; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 5 - Personal Representatives and Administration of Estates › § 64.2-554. When distribution may be required; refunding bond

A personal representative shall not be compelled to pay any legacy made in the will or to distribute the estate of the decedent for six months from the date of the order conferring authority on the first executor or administrator of such decedent and, except when it is otherwise specifically provided for in the will, the personal representative shall not be compelled to make such payment or distribution until the legatee or distributee gives a bond, executed by himself or some other person, with sufficient surety, to refund a due proportion of any debts or demands subsequently proved against the decedent or the decedent's estate and of the costs of the recovery of such debts or demands. Such bond shall be filed and recorded in the clerk's office of the court that may have decreed such payment or distribution or in which the accounts of such representative may be recorded.
Code 1950, § 64-167; 1968, c. 656, § 64.1-177; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 5 - Personal Representatives and Administration of Estates › § 64.2-555. When fiduciaries are protected by refunding bonds

If any personal representative pays any legacy made in the will or distributes any of the estate of the decedent and a proper refunding bond for what is so paid or distributed, with sufficient surety at the time it was made, is filed and recorded pursuant to § 64.2-554, such personal representative shall not be personally liable for any debt or demand against the decedent, whether it be of record or not, unless, within six months from his qualification or before such payment or distribution, he had notice of such debt or demand. However, if any creditor of the decedent establishes a debt or demand against the decedent's estate by judgment therefor or by confirmation of a report of the commissioner of accounts that allows the debt or demand, a suit may be maintained on such refunding bond, in the name of the obligee or his personal representative, for the benefit of such creditor, and a recovery shall be had thereon to the same extent that would have been had if such obligee or his personal representative had satisfied such debt or demand.
Code 1950, § 64-168; 1968, c. 656, § 64.1-178; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 5 - Personal Representatives and Administration of Estates › § 64.2-557. Form for notice to show cause under § 64.2-556

Any notice to show cause published or posted in pursuance of the requirements of § 64.2-556 may be substantially in the form following:
Virginia: In the _______________ Court of _______________
the __________ day of _______________
Re: ____________________, deceased.
SHOW CAUSE ORDER
It appearing that a report of the accounts of ____________________, Personal Representative of the estate of ____________________, deceased, and of the debts and demands against (his) (her) estate has been filed in the Clerk's Office, and that six months have elapsed since the qualification, on motion of ____________________, (a distributee;) (a legatee;) (the personal representative;) IT IS ORDERED that the creditors of, and all others interested in, the estate do show cause, if any they can, on the __________ day of _______________ (before this Court at its courtroom) at ____________________ against the payment and delivery of the Estate of ____________________, deceased, to (the distributees) (the legatees) (without requiring refunding bonds) (with or without refunding bonds as the Court prescribes).
A Copy -- Teste:
________________________________________
Clerk
________________________________________, p.q.
Code 1950, § 64-170; 1968, c. 656, § 64.1-180; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 5 - Personal Representatives and Administration of Estates › § 64.2-558. Distribution to persons standing in loco parentis to certain beneficiaries

Notwithstanding any provision of law to the contrary, a distribution to a person standing in loco parentis to an incapacitated person or an infant pursuant to authorization under subdivision B 17 of § 64.2-105 or a comparable provision in a will or trust instrument may be approved by the commissioner of accounts without regard to the amount or value of the fund or property.
1980, c. 507, § 64.1-180.1; 1997, c. 801; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-600. Definitions

For the purposes of this article, the following definitions apply:
"Designated successor" means one or more successors who are designated pursuant to subdivision A 7 of § 64.2-601.
"Person" means any individual, corporation, business trust, fiduciary, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, public corporation, or any other legal or commercial entity.
"Small asset" means any indebtedness owed to or any asset belonging or presently distributable to the decedent, other than real property, having a value, on the date of the decedent's death, of no more than $50,000. A small asset includes any bank account, savings institution account, credit union account, brokerage account, security, deposit, tax refund, overpayment, item of tangible personal property, or an instrument evidencing a debt, obligation, stock, or chose in action.
"Successor" means any person, other than a creditor, who is entitled under the decedent's will or the laws of intestacy to part or all of a small asset.
1981, c. 281, § 64.1-132.1; 2010, c. 269; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-602. Payment or delivery of small asset valued at $25,000 or less without affidavit

A. Notwithstanding the provisions of § 64.2-601, any person having possession of a small asset valued at $25,000 or less may pay or deliver the small asset to any successor provided that:
1. At least 60 days have elapsed since the decedent's death; and
2. No application for the appointment of a personal representative is pending or has been granted in any jurisdiction.
B. The designated successor shall have a fiduciary duty to safeguard and promptly pay or deliver the small asset as required by the laws of the Commonwealth to the other successors, if any.
1981, c. 281, § 64.1-132.3; 2010, c. 269; 2012, c. 614; 2014, c. 532.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-603. Discharge and release of payor

Any person paying or delivering a small asset pursuant to § 64.2-601 or 64.2-602 is discharged and released to the same extent as if that person dealt with the personal representative of the decedent. Such person is not required to see the application of the small asset or to inquire into the truth of any statement in any affidavit presented pursuant to subsection A of § 64.2-601. If any person to whom such an affidavit is presented refuses to pay or deliver any small asset, it may be recovered, or its payment or delivery compelled, and damages may be recovered, on proof of rightful claim in a proceeding brought for that purpose by or on behalf of the person entitled thereto. Any person to whom payment or delivery of a small asset has been made is answerable and accountable therefor to any personal representative of the decedent's estate or to any other successor having an equal or superior right.
1981, c. 281, § 64.1-132.4; 2010, c. 269; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-604. Payment or delivery of small asset; funeral expenses and disposition

A. Notwithstanding the provisions of this article, 30 days after the death of a decedent upon whose estate there shall have been no application for the appointment of a personal representative pending or granted in any jurisdiction, any person having possession of a small asset belonging to the decedent shall, at the request of a successor, pay or deliver to the licensed funeral service establishment handling the funeral, if there is one, and the disposition of the decedent so much of the small asset as does not exceed the amount given priority by § 64.2-528 and has not already been so paid upon being presented an affidavit made by the licensed funeral service establishment, at the request of a successor, stating:
1. That it is the licensed funeral service establishment handling the funeral, if there is one, and the disposition of the decedent;
2. The legal name and business address of the licensed funeral service establishment;
3. The amount given priority by § 64.2-528, or the amount due to it for the funeral, if there is one, and the disposition of the decedent reduced by any other payments it has received or expects to receive;
4. The reasons and supporting evidence that the person to whom the affidavit will be presented is in possession of a small asset belonging to the decedent; and
5. That a successor has represented to it in writing that at least 30 days have elapsed since the decedent's death and no application for the appointment of a personal representative is pending, has been granted, or is expected in any jurisdiction.
B. 1. Any person paying or delivering a small asset pursuant to this section is discharged and released to the same extent as if that person dealt with the personal representative of the decedent and a receipt of the payee shall be a full and final release of the payor as to such sum. Such person is not required to see the application of the small asset or to inquire into the truth of any statement in any affidavit presented pursuant to subsection A.
2. If any person to whom an affidavit is presented pursuant to subsection A refuses to pay or deliver any small asset belonging to the decedent of which he is in possession pursuant to this section, it may be recovered, or its payment or delivery compelled, and damages may be recovered, on proof of rightful claim in a proceeding brought for that purpose by or on behalf of the licensed funeral service establishment. However, no such damages may be recovered if it is established in such proceeding that the refusal to pay or deliver the small asset was made in good faith.
C. Any licensed funeral service establishment to whom payment or delivery of a small asset has been made under this section is answerable and accountable therefor to any personal representative of the decedent's estate or to any successor having an equal or superior right.
2010, c. 269, § 64.1-132.5; 2012, c. 614; 2023, cc. 414, 494.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-605. Construction of article

The remedies provided by this article shall be in addition to, and not in exclusion of, any other remedies provided by law.
2010, c. 269, § 64.1-132.6; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-606. Transfer of certain vessels registered with U.S. Coast Guard and transfer of motor vehicles

A. When a resident of the Commonwealth owning a vessel registered with the U.S. Coast Guard dies and there has been no qualification on the decedent's estate, a transfer of ownership may be made by a legatee or distributee if he presents a statement made by him to the U.S. Coast Guard stating that (i) there has not been and there is not expected to be a qualification on the estate and (ii) the decedent's debts have been paid in full or that the proceeds from the sale of such vessel will be used to apply against the decedent's debts. The statement shall state the decedent's name, residence at the time of death, and date of death, and the names of all other persons, if any, having an interest in the vessel who, if they have reached the age of majority, shall signify in writing their consent to such transfer of title.
B. A transfer of ownership of a motor vehicle may be made by a legatee or distributee pursuant to § 46.2-634.
1980, c. 731, § 64.1-123.2; 1994, c. 399; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-607. Transfer of evidences of indebtedness, securities, and stock held in decedents' estates

When any executor or administrator duly appointed and qualified under this title has completed the distribution of the estate with the exception of transferring any evidences of indebtedness, securities, or stock in any corporation constituting a portion of such estate, such executor or administrator may file with the clerk of the court in which such executors or administrators qualified, a petition describing any such evidences of indebtedness, securities, and stock, stating that all debts of the decedent have been paid, and stating that a final accounting has been filed and approved. Upon receipt of the petition, the clerk shall issue a certificate certifying that the powers of such executor or administrator continue in full force and effect.
Code 1950, § 64-121.1; 1952, c. 329; 1968, c. 656, § 64.1-128; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-608. Transfer of securities of nonresident decedents

The stocks, bonds, or evidences of indebtedness issued by (i) the Commonwealth or any corporation created by the Commonwealth or (ii) any national bank or any other corporation created pursuant to federal law that has its principal office in the Commonwealth that are held in the name of a decedent domiciled outside of the Commonwealth at the time of his death and who is not known by the officer or agent charged with the duty of transferring such stocks, bonds, or evidences of indebtedness to have a personal representative qualified as such within the Commonwealth, may be transferred by the executor or administrator of the decedent qualified according to the laws of the decedent's domicile.
Code 1950, § 64-122; 1950, c. 895; 1968, c. 656, § 64.1-129; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-609. Money and personal property belonging to nonresident decedents

A. When any person, at the time of his death domiciled outside of the Commonwealth, owned stocks, bonds, securities, money, or tangible personal property located in the Commonwealth or was entitled to any debts, choses in action, or tangible personal property in the Commonwealth, the person, firm, or corporation holding such stocks, bonds, securities, money, debts, tangible personal property, and choses in action shall retain such assets for 90 days from the death of such decedent. After the 90-day period, the person, firm, or corporation shall pay over or deliver on demand such portion of the assets for which the person, firm, or corporation has received no legal notice of any lien or encumbrance to an executor, administrator, or other personal representative, qualified according to the laws of the decedent's domicile if the value of such assets in the Commonwealth is, to the knowledge of the person holding or owing such assets, less than $25,000. When the value of such stocks, bonds, securities, money, debts, tangible personal property, and choses in action is $25,000 or more, the holder may pay or deliver such assets to an executor, administrator, or other personal representative, qualified in accordance with the law of the decedent's domicile, 30 days after the holder gives public notice of his intention to make such a transfer by publication thereof once a week for four successive weeks in a newspaper of general circulation in the city, town, or county wherein the holder resides or has his principal place of business, provided that at the time of such payment or delivery, the holder has no actual notice of the appointment of a personal representative for such decedent in the Commonwealth and has received no legal notice of any lien or encumbrance upon such assets.
B. This section shall be construed as providing, as to the payment of money and the delivery of personal property belonging to nonresident decedents or their estates, optional methods of procedure in addition to those otherwise permitted or provided by law, including a comparable law of the state in which the nonresident decedents were domiciled, and shall not as to such matters add any limitations or restrictions to existing law.
Code 1950, § 64-123; 1956, c. 536; 1968, c. 656, § 64.1-130; 1970, c. 244; 1988, c. 370; 1996, c. 549; 2001, c. 368; 2009, c. 250; 2012, c. 614; 2014, c. 532.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-610. When court may allow another to qualify on estate

A. Except during the pendency of a suit to contest the decedent's will or during the infancy or absence of the executor, the court where the will was admitted to probate or that has jurisdiction to grant administration on the decedent's estate, or the clerk of such court, shall, if there has been no executor or administrator on the decedent's estate for more than two months and on the motion of any person, order any person of the county or city to take into his possession the estate of such decedent and administer the same after requiring such person post a proper bond. However, any sheriff so ordered may decline the appointment if the appointment interferes with his current duties or obligations. The person ordered to take possession of the decedent's estate shall be the administrator, or administrator de bonis non, of the decedent, with his will annexed, if there be a will, and shall be entitled to all the rights and bound to perform all the duties of such administrator.
B. The court may, on reasonable notice to the person appointed, revoke the order made by it or its clerk and the court may, after reasonable notice to the parties in interest, permit the person to resign and allow any other person to qualify as executor or administrator.
C. When an estate is committed to a person pursuant to subsection A on the motion of a creditor or other person, the state tax due for such administration shall be paid by the party who made the motion and such tax shall be repaid to him by the administrator so appointed out of the first funds received by him for such estate.
Code 1950, § 64-124; 1968, c. 656, § 64.1-131; 1971, Ex. Sess., c. 155; 1980, c. 438; 1996, c. 317; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-611. Disposition by sheriff of property when no person entitled thereto

If any sheriff has in his possession any money or personal property of a decedent and, after reasonable diligence, is unable to ascertain the identity of any person entitled to such property, the sheriff shall sell such property at public auction within two years of coming into possession of such property. The sheriff shall post notices of the date, time, and place of the sale at least 10 days before the sale in three or more public places in his jurisdiction, or shall advertise the date, time, and place of the sale at least 10 days before the sale in a newspaper published or having general circulation in his jurisdiction. The proceeds of the sale of personal property, together with any such money of the decedent in the sheriff's possession, after the payment of all necessary expenses, shall be paid into the state treasury to the credit of the Literary Fund.
Code 1950, § 64-125; 1968, c. 656, § 64.1-132; 1971, Ex. Sess., c. 155; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-612. Definitions

In this article, unless the context otherwise requires:
"Beneficiary form" means a registration of a security that indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner.
"Devisee" means any person designated in a will to receive a disposition of real or personal property.
"Heirs" means those persons, including the surviving spouse, who are entitled under the laws of intestate succession to the property of a decedent.
"Personal representative" includes an executor, administrator, successor, personal representative, special administrator, and a person who performs substantially the same function under the law governing his status.
"Property" includes both real and personal property or any interest therein and means anything that may be the subject of ownership.
"Register," including its derivatives, means to issue a certificate showing the ownership of a certificated security or, in the case of an uncertificated security, to initiate or transfer an account showing ownership of securities.
"Registering entity" means a person who originates or transfers a security title by registration, and includes a broker maintaining security accounts for customers and a transfer agent or other person acting for or as an issuer of securities.
"Security" means a share, participation, or other interest in property, in a business, or in an obligation of an enterprise or other issuer, and includes a certificated security, an uncertificated security, and a security account.
"Security account" means (i) a reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account, or a brokerage account, whether or not credited to the account before the owner's death, or (ii) a cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner's death.
1994, c. 422, § 64.1-206.1; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-613. Registration in beneficiary form; sole or joint tenancy ownership; applicable law

A. Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by the entireties, or as owners of community property held in survivorship form, and not as tenants in common.
B. A security may be registered in beneficiary form if the form is authorized by this article or a similar law of the state of organization of the issuer or registering entity, the location of the registering entity's principal office, the office of its transfer agent, or its office making the registration, or by a similar law of the state listed as the owner's address at the time of registration.
A registration governed by the law of a jurisdiction in which this article or a similar law is not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law.
1994, c. 422, § 64.1-206.2; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-614. Origination of registration in beneficiary form

A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.
1994, c. 422, § 64.1-206.3; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-615. Form of registration in beneficiary form; effect

A. Registration in beneficiary form may be shown by the words "transfer on death" or the abbreviation "TOD," or by the words "pay on death" or the abbreviation "POD," after the name of the registered owner and before the name of the beneficiary.
B. The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner's death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then surviving owners without the consent of the beneficiary.
1994, c. 422, § 64.1-206.4; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-616. Ownership on death of owner

On death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to any beneficiaries who survive all owners. On proof of death of all owners and compliance with any applicable requirements of the registering entity, a security registered in beneficiary form may be reregistered in the names of any beneficiaries who survived the death of all owners. Until division of the security after the death of all owners, multiple beneficiaries surviving the death of all owners hold their interests as tenants in common. If no beneficiary survives the death of all owners, the security belongs to the estate of the deceased sole owner or the estate of the last to die of all multiple owners.
1994, c. 422, § 64.1-206.5; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-617. Protection of registering entity

A. A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protection given to the registering entity by this article.
B. By accepting a request for registration of a security in beneficiary form, the registering entity agrees that the registration will be implemented on death of the deceased owner as provided in this article.
C. A registering entity is discharged from all claims to a security by the estate, creditors, heirs, or devisees of a deceased owner if it registers a transfer of the security in accordance with § 64.2-616 and does so in good faith reliance (i) on the registration, (ii) on this article, and (iii) on information provided to it by affidavit of the personal representative of the deceased owner, or by the surviving beneficiary or by the surviving beneficiary's representative, or on other information available to the registering entity. The protections of this article do not extend to a reregistration or payment made after a registering entity has received written notice from any claimant to any interest in the security objecting to implementation of a registration in beneficiary form. No other notice or other information available to the registering entity affects its right to protection under this article.
D. The protection provided by this article to the registering entity of a security does not affect the rights of beneficiaries in disputes between themselves and other claimants to ownership of the security transferred or its value or proceeds.
1994, c. 422, § 64.1-206.6; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-618. Nontestamentary transfer on death

A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this article, and is not testamentary.
This article does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of the Commonwealth.
1994, c. 422, § 64.1-206.7; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-619. Terms, conditions, and forms for registration; examples

A. A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests (i) for registrations in beneficiary form and (ii) for implementation of registrations in beneficiary form, including requests for cancellation of previously registered TOD beneficiary designations and requests for reregistration to effect a change of beneficiary. The terms and conditions so established may provide for proving death, avoiding or resolving any problems concerning fractional shares, designating primary and contingent beneficiaries, and substituting a named beneficiary's descendants to take in the place of the named beneficiary in the event of the beneficiary's death.
Substitution may be indicated by appending to the name of the primary beneficiary the letters LDPS, standing for "lineal descendants per stirpes." This designation substitutes a deceased beneficiary's descendants who survive the owner for a beneficiary who fails to so survive, the descendants to be identified and to share in accordance with the law of the beneficiary's domicile at the owner's death governing inheritance by descendants of an intestate. Other forms of identifying beneficiaries who are to take on one or more contingencies, and rules for providing proofs and assurances needed to satisfy reasonable concerns by registering entities regarding conditions and identities relevant to accurate implementation of registrations in beneficiary form, may be contained in a registering entity's terms and conditions.
B. The following are illustrations of registrations in beneficiary form which a registering entity may authorize:
1. Sole owner-sole beneficiary: John S. Brown TOD (or POD) John S. Brown, Jr.
2. Multiple owners-sole beneficiary: John S. Brown Mary B. Brown JT TEN TOD John S. Brown, Jr.
3. Multiple owners-primary and secondary (substituted) beneficiaries: John S. Brown Mary B. Brown JT TEN TOD John S. Brown, Jr. SUB BENE Peter Q. Brown or John S. Brown Mary B. Brown JT TEN TOD John S. Brown, Jr. LDPS.
1994, c. 422, § 64.1-206.8; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-620. Nonprobate transfers on death

A. A provision for a nonprobate transfer on death in an insurance policy, contract of employment, bond, mortgage, promissory note, certificated or uncertificated security, account agreement, custodial agreement, deposit agreement, compensation plan, pension plan, individual retirement plan, employee benefit plan, trust, conveyance, deed of gift, marital property agreement, or other written instrument of a similar nature is nontestamentary.
Nontestamentary transfers also include writings stating that (i) money or other benefits due to, controlled by, or owned by a decedent before death shall be paid after the decedent's death to a person whom the decedent designates either in the instrument or in a separate writing, including a will, executed either before or at the same time as the instrument, or later; (ii) money due or to become due under the instrument ceases to be payable in the event of death of the promisee or the promisor before payment or demand; or (iii) any property controlled by or owned by the decedent before death that is the subject of the instrument passes to a person the decedent designates either in the instrument or in a separate writing, including a will, executed either before or at the same time as the instrument, or later.
B. This section does not limit rights of creditors under other laws of the Commonwealth.
2001, c. 583, § 64.1-45.3; 2012, c. 614.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-621. Definitions

As used in this article:
"Beneficiary" means a person that receives property under a transfer on death deed.
"Designated beneficiary" means a person designated to receive property in a transfer on death deed.
"Joint owner" means an individual who owns property concurrently with one or more other individuals with a right of survivorship. "Joint owner" includes a joint tenant with the right of survivorship and tenant by the entirety with the right of survivorship. "Joint owner" does not include a tenant in common.
"Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.
"Property" means an interest in real property located in the Commonwealth that is transferable on the death of the owner.
"Transfer on death deed" means a deed or conveyance of a cooperative interest authorized under this article.
"Transferor" means an individual who makes a transfer on death deed.
2013, c. 390; 2022, c. 309.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-622. Applicability

This article applies to a transfer on death deed made before, on, or after July 1, 2013, by a transferor dying on or after July 1, 2013.
2013, c. 390.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-628. Requirements

A transfer on death deed:
1. Except as otherwise provided in subdivision 2, shall contain the essential elements and formalities of a properly recordable inter vivos deed or document to convey a cooperative interest created pursuant to the Virginia Real Estate Cooperative Act (§ 55.1-2100 et seq.);
2. Shall state that the transfer to the designated beneficiary is to occur at the transferor's death;
3. Shall be recorded before the transferor's death in the land records of the clerk's office of the circuit court in the jurisdiction where the property is located;
4. Shall comply with the requirements for recordation set forth in Chapter 6 (§ 55.1-600 et seq.) of Title 55.1 and shall be indexed by the clerk of court under the name of the transferor as grantor;
5. Unless the transfer is for consideration, shall be exempt from recordation tax as provided by subsection J of § 58.1-811;
6. For property owned by joint owners to be effective, shall be executed by all joint owners; and
7. Shall be considered a deed for purposes of complying with the requirements of § 17.1-223.
2013, c. 390; 2022, c. 309.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-629. Notice, delivery, acceptance, consideration not required

A transfer on death deed is effective without:
1. Notice or delivery to or acceptance by the designated beneficiary during the transferor's life; or
2. Consideration.
2013, c. 390.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-630. Revocation by instrument authorized; revocation by act not permitted

A. Subject to subsection B, an instrument is effective to revoke a recorded transfer on death deed, or any part of it, only if the instrument:
1. Is one of the following:
a. A transfer on death deed that revokes the transfer on death deed or part of the transfer on death deed expressly;
b. A transfer on death deed that names a designated beneficiary that is inconsistent with the designated beneficiary in a prior transfer on death deed;
c. An instrument of revocation that expressly revokes the transfer on death deed or part of the transfer on death deed; or
d. An inter vivos deed that expressly revokes the transfer on death deed or part of the transfer on death deed.
2. Is acknowledged by the transferor after the acknowledgment of the transfer on death deed being revoked and recorded before the transferor's death in the land records of the clerk's office of the circuit court where the deed is recorded.
B. If a transfer on death deed is made by more than one transferor:
1. Revocation by a transferor does not affect the transfer on death deed as to the interest of another transferor; and
2. A transfer on death deed of joint owners is revoked only if it is revoked by all of the living joint owners.
C. After a transfer on death deed is recorded, it can be revoked only by an effective revocatory instrument recorded prior to the death of the transferor and may not be revoked by a revocatory act taken against or on the original or a copy of the recorded transfer on death deed.
D. This section does not limit the effect of an inter vivos transfer of the property.
2013, c. 390.
2023 Code of Virginia › Title 64.2 - Wills, Trusts, and Fiduciaries › Chapter 6 - Transfers without Qualification › § 64.2-631. Effect of transfer on death deed during transferor's life

During a transferor's life, a transfer on death deed does not:
1. Affect an interest or right of the transferor or any other owner, including the right to transfer or encumber the property;
2. Affect an interest or right of a transferee, even if the transferee has actual or constructive notice of the deed;
3. Affect an interest or right of a secured or unsecured creditor or future creditor of the transferor, even if the creditor has actual or constructive notice of the deed;
4. Affect the transferor's or designated beneficiary's eligibility for any form of public assistance;
5. Create a legal or equitable interest in favor of the designated beneficiary; or
6. Subject the property to claims or process of a creditor of the designated beneficiary.
2013, c. 390.