                                 CODE OF VIRGINIA

DEFINITIONS (§ 64.2-621)

As used in this article:
		&#8220;Beneficiary&#8221; means a person that receives property under a
transfer on death deed.
		&#8220;Designated beneficiary&#8221; means a person designated to receive
property in a transfer on death deed.
		&#8220;Joint owner&#8221; means an individual who owns property concurrently
with one or more other individuals with a right of survivorship. &#8220;Joint
owner&#8221; includes a joint tenant with the right of survivorship and tenant
by the entirety with the right of survivorship. &#8220;Joint owner&#8221; does
not include a tenant in common.
		&#8220;Person&#8221; means an individual, corporation, business trust, estate,
trust, partnership, limited liability company, association, joint venture,
public corporation, government or governmental subdivision, agency, or
instrumentality, or any other legal or commercial entity.
		&#8220;Property&#8221; means an interest in real property located in the
Commonwealth that is transferable on the death of the owner.
		&#8220;Transfer on death deed&#8221; means a deed or conveyance of a
cooperative interest authorized under this article.
		&#8220;Transferor&#8221; means an individual who makes a transfer on death
deed.

HISTORY: 2013, c. 390; 2022, c. 309.