                                 CODE OF VIRGINIA

LOANS AND RESERVATIONS OF A USE OR PROPERTY TO BE RECORDED (§ 55.1-405)

When any loan of personal property is pretended to have been made to any person
with whom, or with those claiming under him, possession has remained five years
without demand made and pursued by due process of law on the part of the
pretended lender, or when any reservation or limitation is pretended to have
been made of a use or property by way of condition, reversion, remainder, or
otherwise in personal property, the possession of which has so remained in
another as aforesaid, the absolute property shall be taken to be with the
possession and such loan, reservation, or limitation void as to creditors of,
and purchasers from, the person so remaining in possession, unless such loan,
reservation, or limitation is declared by will which, or a copy of which, or by
deed or other writing which, is duly recorded within a period of five years in
the circuit court of the county or city in which the personal property is
located.

HISTORY: Code 1919, § 5188; Code 1950, § 55-87; 2019, c. 712.