CHAPTER 332
An Act to amend and reenact §64.2-534 of the Code of
Virginia, relating to administration of estates; liability of heir or devisee
for real estate conveyed.
[S 1064]
Approved March 19, 2015
Be it enacted by the General Assembly of Virginia:
1. That §64.2-534 of the Code of Virginia is amended and
reenacted as follows:
§64.2-534. Liability of heir or devisee for value of real
estate sold and conveyed; validity of premature conveyances.
A. Any heir or devisee who sells and conveys any real estate
that is an asset for the payment of a decedent's debts or lawful demands
against his estate pursuant to §64.2-532 is liable for the value of such real
estate, with interest, to those persons entitled to be paid out of the real
estate.
However, the heir or devisee B. Notwithstanding the
provisions of subsection A, the real estate sold or conveyed is not liable
to such those persons entitled to be paid out of the real
estate provided that (i) the sale was made more than one year after the
death of the decedent, (ii) the conveyance was bona fide, and
(ii) (iii) at the time of such conveyance, no action has been
commenced for the administration of the real estate and no reports have been
filed of the debts and demands of such creditors.
B. Notwithstanding the provisions of subsection A, no C.
No sale and conveyance of such real estate made by an heir or devisee
within one year after the death of the decedent is valid against creditors of
such decedent, except as otherwise provided in §64.2-535.
C. Any, provided that any sale and conveyance
made within one year after the death of a decedent is valid against creditors
as if it were made more than one year after the death of the decedent,
if no action has been commenced for the administration of the real estate and
no report of the debts and demands has been filed within one year after the
death of the decedent.
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