Code of Virginia § 34-20. Proceeds of sale of estate exempt; how evidenced.

227 words·~1 min read·/va/title-34/chapter-2/34-20

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The estate or property in which proceeds of sale are invested, or which may be acquired in exchange, under any of the preceding sections of this chapter, shall be held exempt in like manner and to the like extent as the estate sold or exchanged was held. But such estate or property when acquired in exchange or otherwise than by investment under an order of court, or unless when set apart by a court, shall be set apart, if real estate, by such a writing as is prescribed by § 34-6 ; if personal estate, by such a writing as is prescribed by § 34-14 ; and such writing shall be recorded as provided by the same sections, respectively.

In addition to the requirements of such sections, the writing shall state from what source the estate was derived and with what means acquired. When such estate is invested or set apart under an order of court, a copy of the order and of any report of a commissioner or other officer making the investment thereunder, if confirmed, and a copy of the order of confirmation, duly certified by the clerk of the court, shall be recorded in the deed book of the county or city wherein the writing, if the estate had been set apart by a writing, is required to be recorded.

Code 1919, § 6546.