CODE OF VIRGINIA

EFFECT OF TRANSFER ON DEATH DEED DURING TRANSFEROR’S LIFE (§ 64.2-631)

During a transferor’s life, a transfer on death deed does not:

1. Affect an interest or right of the transferor or any other owner, including
the right to transfer or encumber the property;

2. Affect an interest or right of a transferee, even if the transferee has
actual or constructive notice of the deed;

3. Affect an interest or right of a secured or unsecured creditor or future
creditor of the transferor, even if the creditor has actual or constructive
notice of the deed;

4. Affect the transferor’s or designated beneficiary’s eligibility
for any form of public assistance;

5. Create a legal or equitable interest in favor of the designated beneficiary;
or

6. Subject the property to claims or process of a creditor of the designated
beneficiary.

HISTORY: 2013, c. 390.