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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>57987</law_id><section_number>64.2-100</section_number><catch_line>Definitions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>2.2-3706.1</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="64.2">Wills, Trusts, and Fiduciaries</unit><unit label="subtitle" level="2" order_by="1" identifier="I">General Provisions</unit><unit label="chapter" level="3" order_by="1" identifier="1">Definitions and General Provisions</unit><unit label="article" level="4" order_by="1" identifier="1">Definitions</unit></structure><text>
						<section><p>As used in this title, unless the context otherwise requires:
		&#x201C;<span class="dictionary">Bona fide purchaser</span>&#x201D; means a purchaser of property for <span class="dictionary">value</span> who has acted in the transaction in good faith. Notice of a seller&#x2019;s marital status, or notice of the existence of a premarital or marital agreement, does not affect the status of a <span class="dictionary">bona fide purchaser</span>. A &#x201C;purchaser&#x201D; is one who acquires property by sale, lease, discount, negotiation, mortgage, pledge, or <span class="dictionary">lien</span> or who otherwise deals with property in a voluntary transaction, other than a gift. A purchaser gives &#x201C;<span class="dictionary">value</span>&#x201D; for property acquired in return for a binding commitment to extend credit to the transferor or another as security for or in total or partial satisfaction of a pre-existing claim, or in return for any other consideration sufficient to support a simple <span class="dictionary">contract</span>.
		&#x201C;<span class="dictionary">Fiduciary</span>&#x201D; includes a guardian, committee, <span class="dictionary">trustee</span>, executor, conservator, or <span class="dictionary">personal representative</span>.
		&#x201C;<span class="dictionary">Personal representative</span>&#x201D; includes the executor under a <span class="dictionary">will</span> or the administrator of the estate of a decedent, the administrator of such estate with the <span class="dictionary">will</span> annexed, the administrator of such estate unadministered by a former representative, whether there is a <span class="dictionary">will</span> or not, any person who is under the <span class="dictionary">order</span> of a <span class="dictionary">circuit</span> <span class="dictionary">court</span> to take into his <span class="dictionary">possession</span> the estate of a decedent for administration, and every other curator of a decedent&#x2019;s estate, for or against whom suits may be brought for causes of action that accrued to or against the decedent.
		&#x201C;<span class="dictionary">Trustee</span>&#x201D; means a <span class="dictionary">trustee</span> under a probated <span class="dictionary">will</span> or an inter vivos trust instrument.
		&#x201C;<span class="dictionary">Will</span>&#x201D; includes any testament, codicil, exercise of a power of appointment by <span class="dictionary">will</span> or by a writing in the nature of a <span class="dictionary">will</span>, or any other testamentary <span class="dictionary">disposition</span>.</p></section></text><history>Code 1950, &#xA7; 64-47; 1968, c. 656, &#xA7; 64.1-45; 1992, cc. 617, 647, &#xA7; 64.1-01; 2012, c. 614.</history><metadata></metadata></law>
