                                 CODE OF VIRGINIA

DUTIES OF FIDUCIARIES AS TO CERTAIN OBLIGATIONS OF THE UNITED STATES (§
64.2-516)

A. Except as provided in subsection B, a fiduciary charged with the
administration of the estate of a decedent is not required to assert a claim to
or seek to recover the whole or any part of funds arising from the redemption or
payment of bonds of the United States that are paid or payable to others under
the applicable laws of the United States or rules and regulations of the U.S.
Department of the Treasury.

B. The fiduciary shall assert a claim to such funds if he receives a request in
writing from any person interested in the estate within six months from the date
of the initial qualification of the estate. The fiduciary, or his attorney,
shall acknowledge in writing receipt of such request within 10 days, and if the
fiduciary is the co-owner of such funds, the fiduciary shall segregate such
funds and place such funds in an interest-bearing account, awaiting an
appropriate court order concerning the ultimate disposition of such funds. The
fiduciary shall not use such funds for his own personal account. However, if the
fiduciary accedes to the request that such funds be treated as estate funds, the
fiduciary may distribute the funds according to law without any court order.

HISTORY: Code 1950, § 64-131.2; 1968, c. 656, § 64.1-141; 2012, c. 614.