                                 CODE OF VIRGINIA

LIABILITY FOR CREDITOR CLAIMS AND STATUTORY ALLOWANCES (§ 64.2-634)

A. After the death of the transferor, and subject to the transferor&#8217;s
right to direct the source from which liabilities will be paid, property
transferred at the transferor&#8217;s death by a transfer on death deed is
subject to claims of the transferor&#8217;s creditors, costs of administration
of the transferor&#8217;s estate, the expenses of the transferor&#8217;s funeral
and disposal of remains, and statutory allowances to a surviving spouse and
children of the transferor including the family allowance, the right to exempt
property, and the homestead allowance to the extent the transferor&#8217;s
probate estate is inadequate to satisfy those claims, costs, expenses, and
allowances.

B. If more than one property is transferred by one or more transfer on death
deeds, the liability under subsection A is apportioned among the properties in
proportion to their net values at the transferor&#8217;s death.

C. A proceeding to enforce the liability under this section shall be commenced
not later than one year after the transferor&#8217;s death.

HISTORY: 2013, c. 390.