{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-700.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-700.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-700.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-700.html"}],"law_id":77403,"edition_id":1,"section_id":77403,"structure_id":14203,"section_number":"64.2-700","catch_line":"Scope","history":"2005, c. 935, \u00a7 55-541.02; 2012, c. 614.","full_text":"A\n\nThis chapter applies to express inter vivos trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. This chapter also applies to testamentary trusts, except to the extent that specific provision is made for them in Part A (\u00a7 64.2-1200 et seq.) of Subtitle IV or elsewhere in the Code of Virginia, or to the extent it is clearly inapplicable to them. Section 64.2-775, which provides the duties of a trustee to inform and report to the trust’s beneficiaries, shall apply to testamentary trusts. For purposes of this subsection, the word “trust” and the words “trustee” or “fiduciary,” as used in Part A (\u00a7 64.2-1200 et seq.) of Subtitle IV, shall be deemed to refer to testamentary trusts and testamentary trustees, except to the extent that the use of such words is clearly inapplicable to testamentary trusts and testamentary trustees. This chapter shall not apply to:1\n\nA trust that is primarily used for business, investment, or commercial transactions, including business trusts, land trusts (§ 55.1-117), deeds of trusts (Article 2 (§ 55.1-316 et seq.) of Chapter 3 of Title 55.1), voting trusts, common trust funds, security arrangements, liquidation trusts, trusts created by deposit arrangement in a financial institution, and trusts created for paying debts, dividends, interest, or profits.2\n\nA trust that is used primarily for employment including trusts created for paying salaries, wages, pensions, or employee benefits of any kind.3\n\nA trust under which a person is a nominee or escrowee for another.4\n\nOther special purpose trusts governed by particular statutes, including trusts under Title 57.B\n\nNotwithstanding subsection A, a court, in exercising jurisdiction over the supervision or administration of trusts, may determine that application of the policies, procedures, or rules of the Code is appropriate to resolution of particular issues.","order_by":null,"text":{"0":{"id":277668,"text":"This chapter applies to express inter vivos trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. This chapter also applies to testamentary trusts, except to the extent that specific provision is made for them in Part A (\u00a7 64.2-1200 et seq.) of Subtitle IV or elsewhere in the Code of Virginia, or to the extent it is clearly inapplicable to them. Section 64.2-775, which provides the duties of a trustee to inform and report to the trust’s beneficiaries, shall apply to testamentary trusts. For purposes of this subsection, the word “trust” and the words “trustee” or “fiduciary,” as used in Part A (\u00a7 64.2-1200 et seq.) of Subtitle IV, shall be deemed to refer to testamentary trusts and testamentary trustees, except to the extent that the use of such words is clearly inapplicable to testamentary trusts and testamentary trustees. This chapter shall not apply to:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":277669,"text":"A trust that is primarily used for business, investment, or commercial transactions, including business trusts, land trusts (§ 55.1-117), deeds of trusts (Article 2 (§ 55.1-316 et seq.) of Chapter 3 of Title 55.1), voting trusts, common trust funds, security arrangements, liquidation trusts, trusts created by deposit arrangement in a financial institution, and trusts created for paying debts, dividends, interest, or profits.","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":277670,"text":"A trust that is used primarily for employment including trusts created for paying salaries, wages, pensions, or employee benefits of any kind.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":277671,"text":"A trust under which a person is a nominee or escrowee for another.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":277672,"text":"Other special purpose trusts governed by particular statutes, including trusts under Title 57.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"B"},"5":{"id":277673,"text":"Notwithstanding subsection A, a court, in exercising jurisdiction over the supervision or administration of trusts, may determine that application of the policies, procedures, or rules of the Code is appropriate to resolution of particular issues.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A4"}},"ancestry":[{"id":14203,"edition_id":1,"name":"General Provisions and Definitions","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":12725,"metadata":{},"date_created":"2026-06-26 03:47:16","date_modified":"2026-06-26 03:47:16","permalink":{"id":274109,"object_type":"structure","relational_id":14203,"identifier":"1","token":"64.2\/III\/7\/1","url":"\/64.2\/III\/7\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12725,"edition_id":1,"name":"Uniform Trust Code","identifier":"7","label":"chapter","depth":3,"order_by":1,"parent_id":12724,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":274107,"object_type":"structure","relational_id":12725,"identifier":"7","token":"64.2\/III\/7","url":"\/64.2\/III\/7\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12724,"edition_id":1,"name":"Trusts","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12723,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":273811,"object_type":"structure","relational_id":12724,"identifier":"III","token":"64.2\/III","url":"\/64.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12723,"edition_id":1,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":272781,"object_type":"structure","relational_id":12723,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":77403,"structure_id":14203,"section_number":"64.2-700","catch_line":"Scope","url":"\/64.2-700\/","token":"64.2\/III\/7\/1\/64.2-700","metadata":false},{"id":80693,"structure_id":14203,"section_number":"64.2-701","catch_line":"Definitions","url":"\/64.2-701\/","token":"64.2\/III\/7\/1\/64.2-701","metadata":false},{"id":85487,"structure_id":14203,"section_number":"64.2-702","catch_line":"Knowledge","url":"\/64.2-702\/","token":"64.2\/III\/7\/1\/64.2-702","metadata":false},{"id":86944,"structure_id":14203,"section_number":"64.2-703","catch_line":"Default and mandatory rules","url":"\/64.2-703\/","token":"64.2\/III\/7\/1\/64.2-703","metadata":false},{"id":70374,"structure_id":14203,"section_number":"64.2-704","catch_line":"Common law of trusts; principles of equity","url":"\/64.2-704\/","token":"64.2\/III\/7\/1\/64.2-704","metadata":false},{"id":78961,"structure_id":14203,"section_number":"64.2-705","catch_line":"Governing law","url":"\/64.2-705\/","token":"64.2\/III\/7\/1\/64.2-705","metadata":false},{"id":85685,"structure_id":14203,"section_number":"64.2-706","catch_line":"Principal place of administration","url":"\/64.2-706\/","token":"64.2\/III\/7\/1\/64.2-706","metadata":false},{"id":56469,"structure_id":14203,"section_number":"64.2-707","catch_line":"Methods and waiver of notice","url":"\/64.2-707\/","token":"64.2\/III\/7\/1\/64.2-707","metadata":false},{"id":76542,"structure_id":14203,"section_number":"64.2-708","catch_line":"Others treated as qualified beneficiaries","url":"\/64.2-708\/","token":"64.2\/III\/7\/1\/64.2-708","metadata":false},{"id":55392,"structure_id":14203,"section_number":"64.2-709","catch_line":"Nonjudicial settlement agreements","url":"\/64.2-709\/","token":"64.2\/III\/7\/1\/64.2-709","metadata":false}],"next_section":{"id":80693,"structure_id":14203,"section_number":"64.2-701","catch_line":"Definitions","url":"\/64.2-701\/","token":"64.2\/III\/7\/1\/64.2-701","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-700\/","history_text":"

This law was first created in 2005. The record of its establishment is cataloged in chapter 935<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. 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. That modification is as follows: in 2012, chapter 614<\/a>.<\/p>","references":[{"id":81918,"section_number":"64.2-1033","catch_line":"Definitions","order_by":null,"url":"\/64.2-1033\/"},{"id":62470,"section_number":"64.2-1208","catch_line":"Expenses and commissions allowed fiduciaries","order_by":null,"url":"\/64.2-1208\/"},{"id":76370,"section_number":"64.2-1407","catch_line":"Who to execute the trust until new trustee appointed","order_by":null,"url":"\/64.2-1407\/"},{"id":68464,"section_number":"64.2-1416","catch_line":"Liability of fiduciary for actions of cofiduciary","order_by":null,"url":"\/64.2-1416\/"}],"refers_to":[{"id":81213,"section_number":"55.1-117","catch_line":"Land trusts not to fail because no beneficiaries are specified by name and no duties laid on trustee; when interest of beneficiaries deemed personal property; liens","order_by":null,"url":"\/55.1-117\/"},{"id":65329,"section_number":"55.1-316","catch_line":"Form of deed of trust to secure debts, etc","order_by":null,"url":"\/55.1-316\/"},{"id":72768,"section_number":"64.2-1200","catch_line":"Commissioners of accounts","order_by":null,"url":"\/64.2-1200\/"},{"id":83323,"section_number":"64.2-775","catch_line":"Duty to inform and report","order_by":null,"url":"\/64.2-775\/"}],"permalink":{"id":274111,"object_type":"law","relational_id":77403,"identifier":"64.2-700","token":"64.2\/III\/7\/1\/64.2-700","url":"\/64.2-700\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-700\/","token":"64.2\/III\/7\/1\/64.2-700","dublin_core":{"Title":"Scope","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-700","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> This chapter applies to express inter vivos trusts, charitable or noncharitable, and trusts created pursuant to a statute<\/span>, judgment<\/span>, or decree<\/span> that requires the trust to be administered in the manner of an express trust. This chapter also applies to testamentary trusts, except to the extent that specific provision is made for them in Part A (\u00a7 64.2-1200<\/a> et seq.) of Subtitle IV or elsewhere in the Code of Virginia, or to the extent it is clearly inapplicable to them. Section 64.2-775<\/a>, which provides the duties of a trustee<\/span> to inform and report to the trust’s beneficiaries, shall apply to testamentary trusts. For purposes of this subsection, the word “trust” and the words “trustee<\/span>” or “fiduciary<\/span>,” as used in Part A (\u00a7 64.2-1200<\/a> et seq.) of Subtitle IV, shall be deemed to refer to testamentary trusts and testamentary trustees<\/span>, except to the extent that the use of such words is clearly inapplicable to testamentary trusts and testamentary trustees<\/span>. This chapter shall not apply to: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A trust that is primarily used for business, investment, or commercial transactions, including business trusts, land trusts (§ 55.1-117<\/a>), deeds of trusts (Article 2 (§ 55.1-316<\/a> et seq.) of Chapter 3 of Title 55.1), voting trusts, common trust funds, security arrangements, liquidation<\/span> trusts, trusts created by deposit arrangement in a financial institution, and trusts created for paying debts, dividends, interest, or profits. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A trust that is used primarily for employment including trusts created for paying salaries, wages, pensions, or employee benefits of any kind. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> A trust under which a person<\/span> is a nominee or escrowee for another. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Other special purpose trusts governed by particular statutes<\/span>, including trusts under Title 57. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Notwithstanding subsection A, a court<\/span>, in exercising jurisdiction<\/span> over the supervision or administration of trusts, may determine that application of the policies, procedures, or rules of the Code is appropriate to resolution of particular issues<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSCOPE (\u00a7 64.2-700)\n\nA. This chapter applies to express inter vivos trusts, charitable or\nnoncharitable, and trusts created pursuant to a statute, judgment, or decree\nthat requires the trust to be administered in the manner of an express trust.\nThis chapter also applies to testamentary trusts, except to the extent that\nspecific provision is made for them in Part A (\u00a7 64.2-1200 et seq.) of Subtitle\nIV or elsewhere in the Code of Virginia, or to the extent it is clearly\ninapplicable to them. Section 64.2-775, which provides the duties of a trustee\nto inform and report to the trust’s beneficiaries, shall apply to\ntestamentary trusts. For purposes of this subsection, the word\n“trust” and the words “trustee” or\n“fiduciary,” as used in Part A (\u00a7 64.2-1200 et seq.) of Subtitle\nIV, shall be deemed to refer to testamentary trusts and testamentary trustees,\nexcept to the extent that the use of such words is clearly inapplicable to\ntestamentary trusts and testamentary trustees. This chapter shall not apply to:\n\n 1. A trust that is primarily used for business, investment, or commercial\n transactions, including business trusts, land trusts (§ 55.1-117), deeds\n of trusts (Article 2 (§ 55.1-316 et seq.) of Chapter 3 of Title 55.1),\n voting trusts, common trust funds, security arrangements, liquidation trusts,\n trusts created by deposit arrangement in a financial institution, and trusts\n created for paying debts, dividends, interest, or profits.\n\n 2. A trust that is used primarily for employment including trusts created for\n paying salaries, wages, pensions, or employee benefits of any kind.\n\n 3. A trust under which a person is a nominee or escrowee for another.\n\n 4. Other special purpose trusts governed by particular statutes, including\n trusts under Title 57.\n\nB. Notwithstanding subsection A, a court, in exercising jurisdiction over the\nsupervision or administration of trusts, may determine that application of the\npolicies, procedures, or rules of the Code is appropriate to resolution of\nparticular issues.\n\nHISTORY: 2005, c. 935, \u00a7 55-541.02; 2012, c. 614.","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}}