Virginia § 55.1-2501 Property presumed abandoned; general rule

Virginia Statutes

§ 55.1-2501 — Property presumed abandoned; general rule

Virginia § 55.1-2501

JurisdictionVirginia

Title 55.1Property and Conveyances

Subtitle VMiscellaneous

Ch. 25Virginia Disposition Of Unclaimed Property Act

Art. 1Definitions; Property Abandoned or Assumed Abandoned

This text of Virginia § 55.1-2501 (Property presumed abandoned; general rule) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 55.1-2501 (2026).

Text

All tangible and intangible property, including any income or increment thereon, less any lawful charges, that is held, issued, or owing in the ordinary course of the holder's business and has remained unclaimed by the owner for more than five years after it became payable is presumed abandoned, except as otherwise provided by this chapter. Property is payable for the purpose of this chapter notwithstanding the owner's failure to make demand or to present any instrument or document required to receive payment.

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All tangible and intangible property, including any income or increment thereon, less any lawful charges, that is held, issued, or owing in the ordinary course of the holder's business and has remained unclaimed by the owner for more than five years after it became payable is presumed abandoned, except as otherwise provided by this chapter. Property is payable for the purpose of this chapter notwithstanding the owner's failure to make demand or to present any instrument or document required to receive payment.