Title 64.2, Title 64.2. Wills, Trusts, and Fiduciaries

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 b…

The remedies provided by this article shall be in addition to, and not in exclusion of, any other remedies provided by law.

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 …

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 exec…

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 …

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,…

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 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 p…

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…

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 …

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.

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 benefi…

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. 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 t…

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 s…

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 …

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 retir…

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 o…

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.

This article does not affect any method of transferring property otherwise permitted under the law of the Commonwealth.

An individual may transfer property to one or more beneficiaries effective at the transferor's death by a transfer on death deed.

A transfer on death deed is revocable even if the deed or another instrument contains a contrary provision.

A transfer on death deed is nontestamentary.

The capacity required to make or revoke a transfer on death deed is the same as the capacity required to make a will.

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 (§ …

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.

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 exp…

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 const…

A. Except as otherwise provided in the transfer on death deed, in this section, in § 64.2-302 or Article 1.1 (§ 64.2-308.1 et seq.) of Chapter 3, as applicable, or in Chapter 22 (§ 64.2-2200 et seq.) or 25 (§ 64.2-2500 et seq.), on the death of the transferor, the following rules…

A beneficiary may disclaim all or part of the beneficiary's interest as provided by Chapter 26 (§ 64.2-2600 et seq.).

A. After the death of the transferor, and subject to the transferor's right to direct the source from which liabilities will be paid, property transferred at the transferor's death by a transfer on death deed is subject to claims of the transferor's creditors, costs of administra…

The following form may be used to create a transfer on death deed. The other sections of this article govern the effect of this or any other instrument used to create a transfer on death deed: THIS DEED MUST BE RECORDED BEFORE THE DEATH OF THE OWNER(S), OR IT WILL NOT BE EFFECTIV…

The following form may be used to create an instrument of revocation under this article. THIS REVOCATION MUST BE RECORDED BEFORE YOU DIE OR IT WILL NOT BE EFFECTIVE. THIS REVOCATION IS EFFECTIVE ONLY AS TO THE INTERESTS IN THE PROPERTY OF OWNERS WHO SIGN THIS REVOCATION. THIS DEE…

In applying and construing this uniform act, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among the states that enact it.

This article modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., but does not modify, limit, or supersede § 101(c) of that Act, 15 U.S.C. § 7001(c), or authorize electronic delivery of any of the notice…