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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>64322</law_id><section_number>55.1-347</section_number><catch_line>Definitions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="55.1">Property and Conveyances</unit><unit label="subtitle" level="2" order_by="1" identifier="I">Property Conveyances</unit><unit label="chapter" level="3" order_by="1" identifier="3">Form and Effect of Deeds and Covenants; Liens</unit><unit label="article" level="4" order_by="1" identifier="3">Satisfaction of Security Interest in Real Property</unit></structure><text>
						<section><p>As used in this article, unless the context requires otherwise:
		&#x201C;<span class="dictionary">Day</span>&#x201D;  means calendar <span class="dictionary">day</span>.
		&#x201C;<span class="dictionary">Document</span>&#x201D;  means information that is:</p></section>
						<section id="1"><p><span class="prefix-number">1.</span> Inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form; and <a id="paragraph-234105" class="section-permalink" href="https://vacode.org/55.1-347/#1"><i class="fa fa-link"/></a></p></section>
						<section id="2"><p><span class="prefix-number">2.</span> Eligible to be recorded in the land records maintained by the clerk.
			&#x201C;Electronic,&#x201D;  as defined in the Uniform Electronic Transactions Act (&#xA7; <a class="law" title="Title" href="/59.1-479/">59.1-479</a> et seq.), means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.
			&#x201C;<span class="dictionary">Person</span>&#x201D;  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.
			&#x201C;<span class="dictionary">Real property</span>&#x201D;  means <span class="dictionary">real property</span> that is used for residential or nonresidential purposes.
			&#x201C;<span class="dictionary">Recording data</span>&#x201D;  means the date, and deed book and page number or instrument number, that indicates where a <span class="dictionary">document</span> is recorded in the land records of the clerk of the <span class="dictionary">circuit</span> <span class="dictionary">court</span> pursuant to Chapter 6 (&#xA7; <a class="law" title="When and where writings recorded" href="/55.1-600/">55.1-600</a> et seq.).
			&#x201C;<span class="dictionary">Secured creditor</span>&#x201D;  means a <span class="dictionary">person</span> that holds or is the beneficiary of a <span class="dictionary">security interest</span> or that is authorized both to receive payments on behalf of a <span class="dictionary">person</span> that holds a <span class="dictionary">security interest</span> in <span class="dictionary">real property</span> and to record a satisfaction of the <span class="dictionary">security instrument</span> upon receiving full performance of the <span class="dictionary">secured obligation</span>. &#x201C;<span class="dictionary">Secured creditor</span>&#x201D; does not include a trustee under a <span class="dictionary">security instrument</span>. &#x201C;<span class="dictionary">Secured creditor</span>&#x201D; also includes &#x201C;<span class="dictionary">lender</span>&#x201D; as used in Chapter 10 (&#xA7; <a class="law" title="Definitions" href="/55.1-1000/">55.1-1000</a> et seq.) and &#x201C;<span class="dictionary">lien creditor</span>&#x201D; and &#x201C;<span class="dictionary">servicer</span>&#x201D; as defined in &#xA7; <a class="law" title="Release of deed of trust or other lien" href="/55.1-339/">55.1-339</a>.
			&#x201C;<span class="dictionary">Secured obligation</span>&#x201D;  means an obligation the payment or performance of which is secured by a <span class="dictionary">security interest</span>.
			&#x201C;<span class="dictionary">Security instrument</span>&#x201D;  means an agreement, however denominated, that creates or provides for a <span class="dictionary">security interest</span>, whether or not it also creates or provides for a lien on personal property.
			&#x201C;<span class="dictionary">Security interest</span>&#x201D;  means an interest in <span class="dictionary">real property</span> created by a <span class="dictionary">security instrument</span>, securing payment, or performance of an obligation and includes a mortgage or deed of trust.
			&#x201C;Sign&#x201D;  means, with present <span class="dictionary">intent</span> to authenticate, accept, or adopt a <span class="dictionary">document</span>: <a id="paragraph-234106" class="section-permalink" href="https://vacode.org/55.1-347/#2"><i class="fa fa-link"/></a></p></section>
						<section id="1"><p><span class="prefix-number">1.</span> To execute or adopt a tangible symbol; or <a id="paragraph-234107" class="section-permalink" href="https://vacode.org/55.1-347/#1"><i class="fa fa-link"/></a></p></section>
						<section id="2"><p><span class="prefix-number">2.</span> To attach to or logically associate with the <span class="dictionary">document</span> an electronic sound, symbol, or process.
			&#x201C;<span class="dictionary">State</span>&#x201D;  means a <span class="dictionary">state</span> of the United <span class="dictionary">States</span>, the District of Columbia, Puerto Rico, the United <span class="dictionary">States</span> Virgin Islands, or any territory or insular <span class="dictionary">possession</span> subject to the <span class="dictionary">jurisdiction</span> of the United <span class="dictionary">States</span>.
			&#x201C;<span class="dictionary">Submit for recording</span>&#x201D;  means to deliver, with required fees and taxes, a <span class="dictionary">document</span> sufficient to be recorded under this article to the office of the clerk of the <span class="dictionary">circuit</span> <span class="dictionary">court</span> pursuant to Chapter 6 (&#xA7; <a class="law" title="When and where writings recorded" href="/55.1-600/">55.1-600</a> et seq.). <a id="paragraph-234108" class="section-permalink" href="https://vacode.org/55.1-347/#2"><i class="fa fa-link"/></a></p></section></text><history>2006, c. 907, &#xA7; 55-66.9; 2019, c. 712.</history><metadata></metadata></law>
