Code of Virginia - Title 6.1 Banking And Finance - Section 6.1-2.5 Certain mortgages, etc., not to prohibit further encumbrance of real property

§ 6.1-2.5. Certain mortgages, etc., not to prohibit further encumbrance of real property

Where any loan secured by a mortgage or deed of trust, on real property comprised of one-to-four-family residential dwelling units, the note, or mortgage or deed of trust evidencing such loan shall in no way prohibit the further encumbrance of the real property. The provision of this section shall not apply to any transaction entered into prior to July 1, 1975.

(1975, c. 398.)

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Last modified: April 2, 2009