                                 CODE OF VIRGINIA

PERFECTION OF LIEN OR INTEREST IN LEASES, RENTS, AND PROFITS (§ 55.1-1403)

The recordation pursuant to § 55.1-600, in the county or city in which the real
property is located, of any deed, deed of trust, or other instrument granting,
transferring, or assigning the interest of the grantor, transferor, assignor,
pledgor, or lessor in leases, rents, or profits arising from the real property
described in such deed, deed of trust, or other instrument shall fully perfect
the interest of the grantee, transferee, assignee, or pledgee as to the assignor
and all third parties without the necessity of (i) furnishing notice to the
assignor or lessee, (ii) obtaining possession of the real property, (iii)
impounding the rents, (iv) securing the appointment of a receiver, or (v) taking
any other affirmative action. The lessee is authorized to pay the assignor until
the lessee receives written notification that rents due or to become due have
been assigned and that payment is to be made to the assignee.

HISTORY: 1992, c. 67, § 55-220.1; 1993, c. 427; 2019, c. 712.