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Code · Virginia · Title 8.01 · Chapter 3

Code of Virginia § 8.01-26. Assignment of causes of action.

122 words·~1 min read·/va/title-8-01/chapter-3/8-01-26

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Only those causes of action for damage to real or personal property, whether such damage be direct or indirect, and causes of action ex contractu are assignable. The provisions of this section shall not prohibit any injured party or his estate from making a voluntary assignment of the proceeds or anticipated proceeds of any court award or settlement
(i)as security for new value given in consideration of such voluntary assignment or
(ii)into a self-settled trust for which the injured party is the beneficiary. Such self-settled trust may also support the charitable purpose of one or more charitable organizations organized and operated pursuant to § 501(c)(3) of the Internal Revenue Code.
1977, c. 617; 1991, c. 256; 2025, c. 295 .
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