§ 64.2-621 — Definitions

Virginia § 64.2-621

• Jurisdiction: Virginia
• Title 64.2: Wills, Trusts, and Fiduciaries
• Subtitle II: Wills and Decedents' Estates
• Ch. 6: Transfers Without Qualification
• Art. 5: Uniform Real Property Transfer on Death Act

Text

As used in this article:

"Beneficiary" means a person that receives property under a transfer on death deed.

"Designated beneficiary" means a person designated to receive property in a transfer on death deed.

"Joint owner" means an individual who owns property concurrently with one or more other individuals with a right of survivorship. "Joint owner" includes a joint tenant with the right of survivorship and tenant by the entirety with the right of survivorship. "Joint owner" does not include a tenant in common.

"Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.

"Property" means an interest in real property located in the Commonwealth that is transferable on the death of the owner.

"Transfer on death deed" means a deed or conveyance of a cooperative interest authorized under this article.

"Transferor" means an individual who makes a transfer on death deed.

Legislative History

2013, c. 390; 2022, c. 309.