                                 CODE OF VIRGINIA

WHEN LIEN ACQUIRED ON INTANGIBLES UNDER § 8.01-501 CEASES (§ 8.01-505)

The lien acquired under § 8.01-501 on intangibles shall cease whenever the
right of the judgment creditor to enforce the judgment by execution or by
action, or to extend the right by motion, ceases or is suspended by a
forthcoming bond being given and forfeited or by other legal process.
Furthermore, as to all such intangibles the lien shall cease upon the expiration
of the following periods whichever is the longer: (i) one year from the return
day of the execution pursuant to which the lien arose, or (ii) if the intangible
is a debt due from, or a claim upon, a third person in favor of the judgment
debtor or the estate of such third person, one year from the final determination
of the amount owed to the judgment debtor.

HISTORY: Code 1950, § 8-434; 1977, c. 617.