                                 CODE OF VIRGINIA

PAYMENT OR DELIVERY OF SMALL ASSET VALUED AT $35,000 OR LESS WITHOUT AFFIDAVIT
(§ 64.2-602)

A. Notwithstanding the provisions of § 64.2-601, any person having possession
of a small asset valued at $35,000 or less may pay or deliver the small asset to
any successor provided that:

   1. At least 60 days have elapsed since the decedent&#8217;s death; and

   2. No application for the appointment of a personal representative is pending
   or has been granted in any jurisdiction.

B. The designated successor shall have a fiduciary duty to safeguard and
promptly pay or deliver the small asset as required by the laws of the
Commonwealth to the other successors, if any.

HISTORY: 1981, c. 281, § 64.1-132.3; 2010, c. 269; 2012, c. 614; 2014, c. 532;
2025, c. 148.