{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-320.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-320.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-320.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-320.html"}],"law_id":84870,"edition_id":1,"section_id":84870,"structure_id":15078,"section_number":"55.1-320","catch_line":"How deed of trust construed; duties, rights, etc., of parties","history":"Code 1919, \u00a7 5167; 1922, p. 364; 1926, p. 591; 1940, p. 879; 1944, p. 481; Code 1950, \u00a7 55-59; 1952, c. 370; 1954, c. 557; 1956, c. 674; 1960, c. 5; 1964, c. 501; 1968, c. 786; 1970, c. 12; 1973, c. 341; 1976, c. 257; 1977, cc. 151, 314, 660; 1979, c. 12; 1980, c. 709; 1981, c. 591; 1992, cc. 87, 193; 1993, c. 426; 1994, c. 551; 2019, c. 712; 2021, Sp. Sess. I, cc. 91, 92.","full_text":"Every deed of trust to secure debts or indemnify sureties is in the nature of a contract and shall be construed according to its terms to the extent not in conflict with the requirements of law. Unless the deed of trust provides otherwise, it shall be construed to impose and confer upon the parties and beneficiaries the following duties, rights, and obligations in like manner as if the same were expressly provided for by such deed of trust:\n\n1\n\nThe deed shall be construed as given to secure the performance of each of the covenants entered into by the grantor as well as the payment of the primary obligation.2\n\nThe grantor shall be deemed to covenant that he will pay all taxes, levies, assessments, and charges upon the property, including the fees and charges of such agents or attorneys as the trustee may deem advisable to employ at any time for the purpose of the trust, so long as any obligation upon the grantor under the deed of trust remains undischarged.3\n\nThe grantor shall be deemed to covenant that he will keep the improvements on the property in tenantable condition, whether such improvements were on the property when the deed of trust was given or were placed there at a later time.4\n\nThe grantor shall be deemed to covenant that no waste shall be committed or suffered upon the property.5\n\nThe grantor shall be deemed to covenant that in the event of his failure to meet any obligations imposed upon him, then the trustee or any beneficiary may, at his option, satisfy such obligations. The money so advanced, with interest as provided in the deed of trust, shall be a part of the debt secured by the deed of trust, in the event of sale to be paid next after the expenses of executing the trust, and shall be otherwise recoverable from the grantor as a debt. In addition, to the extent not otherwise covered, the grantor shall be deemed to covenant that amount advanced or incurred by the trustee or any beneficiary under a deed of trust (i) with respect to an obligation secured by a lien or encumbrance prior to the lien of the deed of trust or (ii) for the protection of the lien secured by the deed of trust, together with interest as provided in the deed of trust, shall be a part of the debt secured by the deed of trust, to be paid next after expenses of executing the trust.6\n\nA covenant to pay interest shall be deemed a covenant to pay interest on the principal balance as such rate may vary or be modified from time to time by the parties under the original instruments or agreements or a written agreement of modification, whether or not recorded, and all the interest on the principal secured by the deed of trust shall be on an equal priority with the principal debt secured by the deed of trust, in the event of sale to be paid next after the expenses of executing the trust.\n\t\t\tAny covenant, otherwise authorized by law, that the lender shall be entitled to share in the gross income or the net income, or the gross rent or revenues, or net rents or revenues of the property, or in any portion of the proceeds or appreciation upon sale or appraisal or similar event, shall be on an equal priority with the principal debt secured by the deed of trust, in the event of sale to be paid next after the expenses of executing the trust, and shall be specified in the recorded deed of trust or other recorded document in order to be notice of record as against subsequent parties.7\n\nIn the event of default in the payment of the debt secured, or any part thereof, at maturity, or in the payment of interest when due, or of the breach of any of the covenants entered into or imposed upon the grantor, then at the request of any beneficiary the trustee shall forthwith declare all the debts and obligations secured by the deed of trust at once due and payable and may take possession of the property and proceed to sell the same at auction at the premises or in the front of the circuit court building or at such other place in the county or city in which the property or the greater part thereof lies, or in the corporate limits of any city surrounded by or contiguous to such county, or in the case of annexed land, in the county of which the land was formerly a part, as the trustee may select upon such terms and conditions as the trustee may deem best.8\n\nIf the sale is upon credit terms, the deferred purchase money shall bear interest from the day of sale and shall be secured by a deed of trust upon the property contemporaneous with the trustee’s deed to the purchaser.9\n\nThe party secured by the deed of trust, or the holders of greater than 50 percent of the monetary obligations secured thereby, shall have the right and power to appoint one or more substitute trustees for any reason and, regardless of whether such right and power is expressly granted in such deed of trust, by executing and acknowledging an instrument designating and appointing a substitute. When the instrument of appointment has been executed, the substitute trustee named therein shall be vested with all the powers, rights, authority, and duties vested in the trustee in the original deed of trust. The instrument of appointment shall be recorded in the office of the clerk in which the original deed of trust is recorded prior to or at the time of recordation of any instrument in which a power, right, authority, or duty conferred by the original deed of trust is exercised.10\n\nIn the case of a deed of trust conveying owner-occupied residential real estate, the trustee of such deed of trust shall not sell the property secured by the deed of trust without receiving an affidavit signed by the party that provided the notice required by § 55.1-321 confirming the notice was sent to the owner, with a copy of such notice attached to the affidavit. Prior to commencing a foreclosure sale with respect to such real estate, the trustee shall provide copies of such affidavit and notice, with any personal financial information redacted, to each potential bidder.","order_by":null,"text":{"0":{"id":304063,"text":"Every deed of trust to secure debts or indemnify sureties is in the nature of a contract and shall be construed according to its terms to the extent not in conflict with the requirements of law. Unless the deed of trust provides otherwise, it shall be construed to impose and confer upon the parties and beneficiaries the following duties, rights, and obligations in like manner as if the same were expressly provided for by such deed of trust:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":304064,"text":"The deed shall be construed as given to secure the performance of each of the covenants entered into by the grantor as well as the payment of the primary obligation.","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":304065,"text":"The grantor shall be deemed to covenant that he will pay all taxes, levies, assessments, and charges upon the property, including the fees and charges of such agents or attorneys as the trustee may deem advisable to employ at any time for the purpose of the trust, so long as any obligation upon the grantor under the deed of trust remains undischarged.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":304066,"text":"The grantor shall be deemed to covenant that he will keep the improvements on the property in tenantable condition, whether such improvements were on the property when the deed of trust was given or were placed there at a later time.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":304067,"text":"The grantor shall be deemed to covenant that no waste shall be committed or suffered upon the property.","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":304068,"text":"The grantor shall be deemed to covenant that in the event of his failure to meet any obligations imposed upon him, then the trustee or any beneficiary may, at his option, satisfy such obligations. The money so advanced, with interest as provided in the deed of trust, shall be a part of the debt secured by the deed of trust, in the event of sale to be paid next after the expenses of executing the trust, and shall be otherwise recoverable from the grantor as a debt. In addition, to the extent not otherwise covered, the grantor shall be deemed to covenant that amount advanced or incurred by the trustee or any beneficiary under a deed of trust (i) with respect to an obligation secured by a lien or encumbrance prior to the lien of the deed of trust or (ii) for the protection of the lien secured by the deed of trust, together with interest as provided in the deed of trust, shall be a part of the debt secured by the deed of trust, to be paid next after expenses of executing the trust.","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":304069,"text":"A covenant to pay interest shall be deemed a covenant to pay interest on the principal balance as such rate may vary or be modified from time to time by the parties under the original instruments or agreements or a written agreement of modification, whether or not recorded, and all the interest on the principal secured by the deed of trust shall be on an equal priority with the principal debt secured by the deed of trust, in the event of sale to be paid next after the expenses of executing the trust.\n\t\t\tAny covenant, otherwise authorized by law, that the lender shall be entitled to share in the gross income or the net income, or the gross rent or revenues, or net rents or revenues of the property, or in any portion of the proceeds or appreciation upon sale or appraisal or similar event, shall be on an equal priority with the principal debt secured by the deed of trust, in the event of sale to be paid next after the expenses of executing the trust, and shall be specified in the recorded deed of trust or other recorded document in order to be notice of record as against subsequent parties.","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":304070,"text":"In the event of default in the payment of the debt secured, or any part thereof, at maturity, or in the payment of interest when due, or of the breach of any of the covenants entered into or imposed upon the grantor, then at the request of any beneficiary the trustee shall forthwith declare all the debts and obligations secured by the deed of trust at once due and payable and may take possession of the property and proceed to sell the same at auction at the premises or in the front of the circuit court building or at such other place in the county or city in which the property or the greater part thereof lies, or in the corporate limits of any city surrounded by or contiguous to such county, or in the case of annexed land, in the county of which the land was formerly a part, as the trustee may select upon such terms and conditions as the trustee may deem best.","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":304071,"text":"If the sale is upon credit terms, the deferred purchase money shall bear interest from the day of sale and shall be secured by a deed of trust upon the property contemporaneous with the trustee’s deed to the purchaser.","type":"section","prefixes":["8"],"prefix":"8","entire_prefix":"8","prefix_anchor":"8","level":1,"prior_prefix":"7","next_prefix":"9"},"9":{"id":304072,"text":"The party secured by the deed of trust, or the holders of greater than 50 percent of the monetary obligations secured thereby, shall have the right and power to appoint one or more substitute trustees for any reason and, regardless of whether such right and power is expressly granted in such deed of trust, by executing and acknowledging an instrument designating and appointing a substitute. When the instrument of appointment has been executed, the substitute trustee named therein shall be vested with all the powers, rights, authority, and duties vested in the trustee in the original deed of trust. The instrument of appointment shall be recorded in the office of the clerk in which the original deed of trust is recorded prior to or at the time of recordation of any instrument in which a power, right, authority, or duty conferred by the original deed of trust is exercised.","type":"section","prefixes":["9"],"prefix":"9","entire_prefix":"9","prefix_anchor":"9","level":1,"prior_prefix":"8","next_prefix":"10"},"10":{"id":304073,"text":"In the case of a deed of trust conveying owner-occupied residential real estate, the trustee of such deed of trust shall not sell the property secured by the deed of trust without receiving an affidavit signed by the party that provided the notice required by § 55.1-321 confirming the notice was sent to the owner, with a copy of such notice attached to the affidavit. Prior to commencing a foreclosure sale with respect to such real estate, the trustee shall provide copies of such affidavit and notice, with any personal financial information redacted, to each potential bidder.","type":"section","prefixes":["10"],"prefix":"10","entire_prefix":"10","prefix_anchor":"10","level":1,"prior_prefix":"9"}},"ancestry":[{"id":15078,"edition_id":1,"name":"Form and Effect of Deeds of Trust; Sales Thereunder; Assignments; Releases","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13328,"metadata":{},"date_created":"2026-06-26 03:52:02","date_modified":"2026-06-26 03:52:02","permalink":{"id":245061,"object_type":"structure","relational_id":15078,"identifier":"2","token":"55.1\/I\/3\/2","url":"\/55.1\/I\/3\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13328,"edition_id":1,"name":"Form and Effect of Deeds and Covenants; Liens","identifier":"3","label":"chapter","depth":3,"order_by":1,"parent_id":13327,"metadata":{},"date_created":"2026-06-26 03:44:39","date_modified":"2026-06-26 03:44:39","permalink":{"id":244985,"object_type":"structure","relational_id":13328,"identifier":"3","token":"55.1\/I\/3","url":"\/55.1\/I\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13327,"edition_id":1,"name":"Property Conveyances","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12707,"metadata":{},"date_created":"2026-06-26 03:44:39","date_modified":"2026-06-26 03:44:39","permalink":{"id":244771,"object_type":"structure","relational_id":13327,"identifier":"I","token":"55.1\/I","url":"\/55.1\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12707,"edition_id":1,"name":"Property and Conveyances","identifier":"55.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":244769,"object_type":"structure","relational_id":12707,"identifier":"55.1","token":"55.1","url":"\/55.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":65329,"structure_id":15078,"section_number":"55.1-316","catch_line":"Form of deed of trust to secure debts, etc","url":"\/55.1-316\/","token":"55.1\/I\/3\/2\/55.1-316","metadata":false},{"id":70118,"structure_id":15078,"section_number":"55.1-317","catch_line":"Requirements for trustees","url":"\/55.1-317\/","token":"55.1\/I\/3\/2\/55.1-317","metadata":false},{"id":86332,"structure_id":15078,"section_number":"55.1-318","catch_line":"Credit line deed of trust defined; relative priority of credit line deed of trust and other instruments of judgment","url":"\/55.1-318\/","token":"55.1\/I\/3\/2\/55.1-318","metadata":false},{"id":84678,"structure_id":15078,"section_number":"55.1-318.1","catch_line":"Effect of amendment to loan document on deed of trust","url":"\/55.1-318.1\/","token":"55.1\/I\/3\/2\/55.1-318.1","metadata":false},{"id":75054,"structure_id":15078,"section_number":"55.1-319","catch_line":"Priority of residential refinance mortgage over subordinate mortgage","url":"\/55.1-319\/","token":"55.1\/I\/3\/2\/55.1-319","metadata":false},{"id":84870,"structure_id":15078,"section_number":"55.1-320","catch_line":"How deed of trust construed; duties, rights, etc., of parties","url":"\/55.1-320\/","token":"55.1\/I\/3\/2\/55.1-320","metadata":false},{"id":82152,"structure_id":15078,"section_number":"55.1-321","catch_line":"Notices required before sale by trustee to owners, lienors, etc.; if note lost","url":"\/55.1-321\/","token":"55.1\/I\/3\/2\/55.1-321","metadata":false},{"id":69372,"structure_id":15078,"section_number":"55.1-322","catch_line":"Advertisement required before sale by trustee","url":"\/55.1-322\/","token":"55.1\/I\/3\/2\/55.1-322","metadata":false},{"id":77112,"structure_id":15078,"section_number":"55.1-323","catch_line":"Contents of advertisements of sale","url":"\/55.1-323\/","token":"55.1\/I\/3\/2\/55.1-323","metadata":false},{"id":79384,"structure_id":15078,"section_number":"55.1-324","catch_line":"Powers and duties of trustee in event of sale under or satisfaction of deed of trust","url":"\/55.1-324\/","token":"55.1\/I\/3\/2\/55.1-324","metadata":false},{"id":70971,"structure_id":15078,"section_number":"55.1-325","catch_line":"Meaning of phrases that may be included in deed of trust","url":"\/55.1-325\/","token":"55.1\/I\/3\/2\/55.1-325","metadata":false},{"id":73086,"structure_id":15078,"section_number":"55.1-326","catch_line":"Evidences of indebtedness placed on equal footing","url":"\/55.1-326\/","token":"55.1\/I\/3\/2\/55.1-326","metadata":false},{"id":78854,"structure_id":15078,"section_number":"55.1-327","catch_line":"Sales under deeds of trust that contain no maturity date or provision authorizing sale","url":"\/55.1-327\/","token":"55.1\/I\/3\/2\/55.1-327","metadata":false},{"id":57488,"structure_id":15078,"section_number":"55.1-328","catch_line":"Validation of conveyances of real property under trust instrument not authorizing sale","url":"\/55.1-328\/","token":"55.1\/I\/3\/2\/55.1-328","metadata":false},{"id":86578,"structure_id":15078,"section_number":"55.1-329","catch_line":"Permissible form for notice of sale under deed of trust","url":"\/55.1-329\/","token":"55.1\/I\/3\/2\/55.1-329","metadata":false},{"id":69516,"structure_id":15078,"section_number":"55.1-330","catch_line":"Construction of deeds requiring notice by advertisement in newspaper","url":"\/55.1-330\/","token":"55.1\/I\/3\/2\/55.1-330","metadata":false},{"id":84754,"structure_id":15078,"section_number":"55.1-331","catch_line":"Disposition of surplus from trustee's sale after death of grantor","url":"\/55.1-331\/","token":"55.1\/I\/3\/2\/55.1-331","metadata":false},{"id":75951,"structure_id":15078,"section_number":"55.1-332","catch_line":"Title to real estate sold not affected by nonlisting of secured notes for taxation","url":"\/55.1-332\/","token":"55.1\/I\/3\/2\/55.1-332","metadata":false},{"id":71527,"structure_id":15078,"section_number":"55.1-333","catch_line":"Validation of certain sales made under deeds of trust","url":"\/55.1-333\/","token":"55.1\/I\/3\/2\/55.1-333","metadata":false},{"id":77519,"structure_id":15078,"section_number":"55.1-334","catch_line":"Validation of certain sales made under deeds of trust prior to October 1, 1977","url":"\/55.1-334\/","token":"55.1\/I\/3\/2\/55.1-334","metadata":false},{"id":64323,"structure_id":15078,"section_number":"55.1-335","catch_line":"Validation of other sales under deeds of trust","url":"\/55.1-335\/","token":"55.1\/I\/3\/2\/55.1-335","metadata":false},{"id":80410,"structure_id":15078,"section_number":"55.1-336","catch_line":"Protection of assignees or transferees of debts secured by real estate; form of certificate of transfer","url":"\/55.1-336\/","token":"55.1\/I\/3\/2\/55.1-336","metadata":false},{"id":60195,"structure_id":15078,"section_number":"55.1-337","catch_line":"Required notice of foreclosure or repossession of manufactured home","url":"\/55.1-337\/","token":"55.1\/I\/3\/2\/55.1-337","metadata":false},{"id":77976,"structure_id":15078,"section_number":"55.1-338","catch_line":"Release to person dead inures to successors","url":"\/55.1-338\/","token":"55.1\/I\/3\/2\/55.1-338","metadata":false},{"id":82066,"structure_id":15078,"section_number":"55.1-339","catch_line":"Release of deed of trust or other lien","url":"\/55.1-339\/","token":"55.1\/I\/3\/2\/55.1-339","metadata":false},{"id":78869,"structure_id":15078,"section_number":"55.1-340","catch_line":"Release by financial institution upon payment of debt placed with it for collection","url":"\/55.1-340\/","token":"55.1\/I\/3\/2\/55.1-340","metadata":false},{"id":58312,"structure_id":15078,"section_number":"55.1-341","catch_line":"Partial satisfaction","url":"\/55.1-341\/","token":"55.1\/I\/3\/2\/55.1-341","metadata":false},{"id":65250,"structure_id":15078,"section_number":"55.1-342","catch_line":"Permissible form for certificate of satisfaction or certificate of partial satisfaction","url":"\/55.1-342\/","token":"55.1\/I\/3\/2\/55.1-342","metadata":false},{"id":72373,"structure_id":15078,"section_number":"55.1-343","catch_line":"Where certificates of satisfaction are to be indexed","url":"\/55.1-343\/","token":"55.1\/I\/3\/2\/55.1-343","metadata":false},{"id":74812,"structure_id":15078,"section_number":"55.1-344","catch_line":"Releases made by court; costs and attorney fees","url":"\/55.1-344\/","token":"55.1\/I\/3\/2\/55.1-344","metadata":false},{"id":78458,"structure_id":15078,"section_number":"55.1-345","catch_line":"Recordation of certificate of satisfaction, etc., required when release of lien recorded","url":"\/55.1-345\/","token":"55.1\/I\/3\/2\/55.1-345","metadata":false}],"previous_section":{"id":75054,"structure_id":15078,"section_number":"55.1-319","catch_line":"Priority of residential refinance mortgage over subordinate mortgage","url":"\/55.1-319\/","token":"55.1\/I\/3\/2\/55.1-319","metadata":false},"next_section":{"id":82152,"structure_id":15078,"section_number":"55.1-321","catch_line":"Notices required before sale by trustee to owners, lienors, etc.; if note lost","url":"\/55.1-321\/","token":"55.1\/I\/3\/2\/55.1-321","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-320\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 17 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1952, chapter 370; in 1954, chapter 557; in 1956, chapter 674; in 1960, chapter 5; in 1964, chapter 501; in 1968, chapter 786; in 1970, chapter 12; in 1973, chapter 341; in 1976, chapter 257; in 1977, chapters 151, 314, and 660; in 1979, chapter 12; in 1980, chapter 709; in 1981, chapter 591; in 1992, chapters 87 and 193; in 1993, chapter 426; in 1994, chapter 551<\/a>; in 2019, chapter 712<\/a>.<\/p>","references":[{"id":86748,"section_number":"55.1-1503","catch_line":"Encumbrance on real property","order_by":null,"url":"\/55.1-1503\/"},{"id":86332,"section_number":"55.1-318","catch_line":"Credit line deed of trust defined; relative priority of credit line deed of trust and other instruments of judgment","order_by":null,"url":"\/55.1-318\/"},{"id":82152,"section_number":"55.1-321","catch_line":"Notices required before sale by trustee to owners, lienors, etc.; if note lost","order_by":null,"url":"\/55.1-321\/"},{"id":70971,"section_number":"55.1-325","catch_line":"Meaning of phrases that may be included in deed of trust","order_by":null,"url":"\/55.1-325\/"},{"id":86578,"section_number":"55.1-329","catch_line":"Permissible form for notice of sale under deed of trust","order_by":null,"url":"\/55.1-329\/"}],"refers_to":[{"id":82152,"section_number":"55.1-321","catch_line":"Notices required before sale by trustee to owners, lienors, etc.; if note lost","order_by":null,"url":"\/55.1-321\/"}],"permalink":{"id":245083,"object_type":"law","relational_id":84870,"identifier":"55.1-320","token":"55.1\/I\/3\/2\/55.1-320","url":"\/55.1-320\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-320\/","token":"55.1\/I\/3\/2\/55.1-320","dublin_core":{"Title":"How deed of trust construed; duties, rights, etc., of parties","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-320","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Every deed of trust to secure debts or indemnify sureties is in the nature of a contract<\/span> and shall be construed according to its terms to the extent not in conflict with the requirements of law<\/span>. Unless the deed of trust provides otherwise, it shall be construed to impose and confer upon the parties and beneficiaries the following duties, rights, and obligations in like manner as if the same were expressly provided for by such deed of trust:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The deed shall be construed as given to secure the performance of each of the covenants entered into by the grantor as well as the payment of the primary obligation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The grantor shall be deemed to covenant that he will pay all taxes, levies, assessments, and charges upon the property, including the fees and charges of such agents or attorneys as the trustee may deem advisable to employ at any time for the purpose of the trust, so long as any obligation upon the grantor under the deed of trust remains undischarged. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The grantor shall be deemed to covenant that he will keep the improvements on the property in tenantable condition, whether such improvements were on the property when the deed of trust was given or were placed there at a later time. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The grantor shall be deemed to covenant that no waste shall be committed or suffered upon the property. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The grantor shall be deemed to covenant that in the event of his failure to meet any obligations imposed upon him, then the trustee or any beneficiary may, at his option, satisfy such obligations. The money so advanced, with interest as provided in the deed of trust, shall be a part of the debt secured by the deed of trust, in the event of sale to be paid next after the expenses of executing the trust, and shall be otherwise recoverable from the grantor as a debt. In addition, to the extent not otherwise covered, the grantor shall be deemed to covenant that amount advanced or incurred by the trustee or any beneficiary under a deed of trust (i) with respect to an obligation secured by a lien<\/span> or encumbrance prior to the lien<\/span> of the deed of trust or (ii) for the protection of the lien<\/span> secured by the deed of trust, together with interest as provided in the deed of trust, shall be a part of the debt secured by the deed of trust, to be paid next after expenses of executing the trust. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> A covenant to pay interest shall be deemed a covenant to pay interest on the principal balance as such rate may vary or be modified from time to time by the parties under the original instruments or agreements or a written agreement of modification, whether or not recorded, and all the interest on the principal secured by the deed of trust shall be on an equal priority with the principal debt secured by the deed of trust, in the event of sale to be paid next after the expenses of executing the trust.\n\t\t\tAny covenant, otherwise authorized by law<\/span>, that the lender shall be entitled to share in the gross income or the net income, or the gross rent or revenues, or net rents or revenues of the property, or in any portion of the proceeds or appreciation upon sale or appraisal or similar event, shall be on an equal priority with the principal debt secured by the deed of trust, in the event of sale to be paid next after the expenses of executing the trust, and shall be specified in the recorded deed of trust or other recorded document in order<\/span> to be notice of record as against subsequent parties. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> In the event of default<\/span> in the payment of the debt secured, or any part thereof, at maturity, or in the payment of interest when due, or of the breach of any of the covenants entered into or imposed upon the grantor, then at the request of any beneficiary the trustee shall forthwith declare all the debts and obligations secured by the deed of trust at once due and payable and may take possession<\/span> of the property and proceed to sell the same at auction at the premises or in the front of the circuit<\/span> court<\/span> building or at such other place in the county or city in which the property or the greater part thereof lies, or in the corporate limits of any city surrounded by or contiguous to such county, or in the case of annexed land, in the county of which the land was formerly a part, as the trustee may select upon such terms and conditions as the trustee may deem best. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> If the sale is upon credit terms, the deferred purchase money shall bear interest from the day of sale and shall be secured by a deed of trust upon the property contemporaneous with the trustee’s deed to the purchaser. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> The party<\/span> secured by the deed of trust, or the holders of greater than 50 percent of the monetary obligations secured thereby, shall have the right and power to appoint one or more substitute trustees for any reason and, regardless of whether such right and power is expressly granted in such deed of trust, by executing and acknowledging an instrument designating and appointing a substitute. When the instrument of appointment has been executed, the substitute trustee named therein shall be vested with all the powers, rights, authority, and duties vested in the trustee in the original deed of trust. The instrument of appointment shall be recorded in the office of the clerk in which the original deed of trust is recorded prior to or at the time of recordation of any instrument in which a power, right, authority, or duty conferred by the original deed of trust is exercised. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

10.<\/span> In the case of a deed of trust conveying owner-occupied residential real estate, the trustee of such deed of trust shall not sell the property secured by the deed of trust without receiving an affidavit<\/span> signed by the party<\/span> that provided the notice required by § 55.1-321<\/a> confirming the notice was sent to the owner, with a copy of such notice attached to the affidavit<\/span>. Prior to commencing a foreclosure sale with respect to such real estate, the trustee shall provide copies of such affidavit<\/span> and notice, with any personal financial information redacted, to each potential bidder. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nHOW DEED OF TRUST CONSTRUED; DUTIES, RIGHTS, ETC., OF PARTIES (\u00a7 55.1-320)\n\nEvery deed of trust to secure debts or indemnify sureties is in the nature of a\ncontract and shall be construed according to its terms to the extent not in\nconflict with the requirements of law. Unless the deed of trust provides\notherwise, it shall be construed to impose and confer upon the parties and\nbeneficiaries the following duties, rights, and obligations in like manner as if\nthe same were expressly provided for by such deed of trust:\n\n1. The deed shall be construed as given to secure the performance of each of the\ncovenants entered into by the grantor as well as the payment of the primary\nobligation.\n\n2. The grantor shall be deemed to covenant that he will pay all taxes, levies,\nassessments, and charges upon the property, including the fees and charges of\nsuch agents or attorneys as the trustee may deem advisable to employ at any time\nfor the purpose of the trust, so long as any obligation upon the grantor under\nthe deed of trust remains undischarged.\n\n3. The grantor shall be deemed to covenant that he will keep the improvements on\nthe property in tenantable condition, whether such improvements were on the\nproperty when the deed of trust was given or were placed there at a later time.\n\n4. The grantor shall be deemed to covenant that no waste shall be committed or\nsuffered upon the property.\n\n5. The grantor shall be deemed to covenant that in the event of his failure to\nmeet any obligations imposed upon him, then the trustee or any beneficiary may,\nat his option, satisfy such obligations. The money so advanced, with interest as\nprovided in the deed of trust, shall be a part of the debt secured by the deed\nof trust, in the event of sale to be paid next after the expenses of executing\nthe trust, and shall be otherwise recoverable from the grantor as a debt. In\naddition, to the extent not otherwise covered, the grantor shall be deemed to\ncovenant that amount advanced or incurred by the trustee or any beneficiary\nunder a deed of trust (i) with respect to an obligation secured by a lien or\nencumbrance prior to the lien of the deed of trust or (ii) for the protection of\nthe lien secured by the deed of trust, together with interest as provided in the\ndeed of trust, shall be a part of the debt secured by the deed of trust, to be\npaid next after expenses of executing the trust.\n\n6. A covenant to pay interest shall be deemed a covenant to pay interest on the\nprincipal balance as such rate may vary or be modified from time to time by the\nparties under the original instruments or agreements or a written agreement of\nmodification, whether or not recorded, and all the interest on the principal\nsecured by the deed of trust shall be on an equal priority with the principal\ndebt secured by the deed of trust, in the event of sale to be paid next after\nthe expenses of executing the trust.\n\t\t\tAny covenant, otherwise authorized by law, that the lender shall be entitled\nto share in the gross income or the net income, or the gross rent or revenues,\nor net rents or revenues of the property, or in any portion of the proceeds or\nappreciation upon sale or appraisal or similar event, shall be on an equal\npriority with the principal debt secured by the deed of trust, in the event of\nsale to be paid next after the expenses of executing the trust, and shall be\nspecified in the recorded deed of trust or other recorded document in order to\nbe notice of record as against subsequent parties.\n\n7. In the event of default in the payment of the debt secured, or any part\nthereof, at maturity, or in the payment of interest when due, or of the breach\nof any of the covenants entered into or imposed upon the grantor, then at the\nrequest of any beneficiary the trustee shall forthwith declare all the debts and\nobligations secured by the deed of trust at once due and payable and may take\npossession of the property and proceed to sell the same at auction at the\npremises or in the front of the circuit court building or at such other place in\nthe county or city in which the property or the greater part thereof lies, or in\nthe corporate limits of any city surrounded by or contiguous to such county, or\nin the case of annexed land, in the county of which the land was formerly a\npart, as the trustee may select upon such terms and conditions as the trustee\nmay deem best.\n\n8. If the sale is upon credit terms, the deferred purchase money shall bear\ninterest from the day of sale and shall be secured by a deed of trust upon the\nproperty contemporaneous with the trustee’s deed to the purchaser.\n\n9. The party secured by the deed of trust, or the holders of greater than 50\npercent of the monetary obligations secured thereby, shall have the right and\npower to appoint one or more substitute trustees for any reason and, regardless\nof whether such right and power is expressly granted in such deed of trust, by\nexecuting and acknowledging an instrument designating and appointing a\nsubstitute. When the instrument of appointment has been executed, the substitute\ntrustee named therein shall be vested with all the powers, rights, authority,\nand duties vested in the trustee in the original deed of trust. The instrument\nof appointment shall be recorded in the office of the clerk in which the\noriginal deed of trust is recorded prior to or at the time of recordation of any\ninstrument in which a power, right, authority, or duty conferred by the original\ndeed of trust is exercised.\n\n10. In the case of a deed of trust conveying owner-occupied residential real\nestate, the trustee of such deed of trust shall not sell the property secured by\nthe deed of trust without receiving an affidavit signed by the party that\nprovided the notice required by § 55.1-321 confirming the notice was sent\nto the owner, with a copy of such notice attached to the affidavit. Prior to\ncommencing a foreclosure sale with respect to such real estate, the trustee\nshall provide copies of such affidavit and notice, with any personal financial\ninformation redacted, to each potential bidder.\n\nHISTORY: Code 1919, \u00a7 5167; 1922, p. 364; 1926, p. 591; 1940, p. 879; 1944, p.\n481; Code 1950, \u00a7 55-59; 1952, c. 370; 1954, c. 557; 1956, c. 674; 1960, c. 5;\n1964, c. 501; 1968, c. 786; 1970, c. 12; 1973, c. 341; 1976, c. 257; 1977, cc.\n151, 314, 660; 1979, c. 12; 1980, c. 709; 1981, c. 591; 1992, cc. 87, 193; 1993,\nc. 426; 1994, c. 551; 2019, c. 712; 2021, Sp. Sess. I, cc. 91, 92.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}