                                 CODE OF VIRGINIA

CERTAIN RECORDED CONTRACTS AS VALID AS DEEDS (§ 55.1-406)

Any such contract or bill of sale as is mentioned in § 11-1, if in writing and
signed by the owner of the property, shall, from the time it is duly recorded,
be, as against creditors and purchasers, as valid, so far as it affects real
estate, as if the contract were a deed conveying the estate or interest embraced
in the contract and, so far as it affects goods and chattels, as if possession
had completely passed at the time of such recording, provided that, as to goods
whose possession is retained by a merchant-seller, the provisions of subsection
(2) of § 8.2-402 of the Uniform Commercial Code shall be controlling and
provided further that, if any such contract or bill of sale as is mentioned in
§ 11-1 creates a security interest as defined in the Uniform Commercial Code,
its validity and enforceability shall be governed by the provisions of that
Code.

HISTORY: Code 1919, § 5193; Code 1950, § 55-95; 1964, c. 314; 1966, c. 399;
2019, c. 712.