Code of Virginia § 64.2-631. Effect of transfer on death deed during transferor's life.
131 words·~1 min read·
/va/title-64-2/chapter-6/64-2-631A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 .