Code of Virginia § 64.2-602. Payment or delivery of small asset valued at $35,000 or less without affidavit.
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/va/title-64-2/chapter-6/64-2-602A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Notwithstanding the provisions of § 64.2-601 , any person having possession of a small asset valued at $35,000 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 ; 2025, c. 148 .