                                 CODE OF VIRGINIA

LIABILITY OF HEIR OR DEVISEE FOR VALUE OF REAL ESTATE SOLD AND CONVEYED;
VALIDITY OF PREMATURE CONVEYANCES (§ 64.2-534)

A. Any heir or devisee who sells and conveys any real estate that is an asset
for the payment of a decedent&#8217;s debts or lawful demands against his estate
pursuant to &#xA7; 64.2-532 is liable for the value of such real estate, with
interest, to those persons entitled to be paid out of the real estate.

B. Notwithstanding the provisions of subsection A, the real estate sold or
conveyed is not liable to those persons entitled to be paid out of the real
estate provided that (i) the sale was made more than one year after the death of
the decedent, (ii) the conveyance was bona fide, and (iii) at the time of such
conveyance, no action has been commenced for the administration of the real
estate and no reports have been filed of the debts and demands of such
creditors.

C. No sale and conveyance of such real estate made by an heir or devisee within
one year after the death of the decedent is valid against creditors of such
decedent, except as otherwise provided in &#xA7; 64.2-535, provided that any
sale and conveyance made within one year after the death of a decedent is valid
against creditors as if it were made more than one year after the death of the
decedent if no action has been commenced for the administration of the real
estate and no report of the debts and demands has been filed within one year
after the death of the decedent.

HISTORY: Code 1950, § 64-173; 1950, p. 606; 1968, c. 656, § 64.1-183; 2012, c.
614; 2015, c. 332.