§ 55-1. Aliens may acquire, hold and transmit real estate; when reciprocity required
Any alien, not an enemy, may acquire by purchase or descent and hold real estate in this Commonwealth; and the same shall be transmitted in the same manner as real estate held by citizens. However, whenever it appears to a court of this Commonwealth that the laws of a foreign country or sovereignty effectively deny a Virginia resident, legatee or distributee of the benefit, use or control of money or other property held in that jurisdiction, a judgment, order or decree issued in the Commonwealth concerning the rights of a resident of that foreign country or sovereignty to the benefit, use or control of money or property held in the Commonwealth, may direct that the money or property be paid into the court for the benefit of the alien. The money or property paid into court shall be paid out only upon order of the court or pursuant to the order or judgment of a court of competent jurisdiction. Any of the money or property remaining with the court upon expiration of three years from the decedent's death shall be paid out by the court as if the alien had predeceased the decedent.
(Code 1919, § 66; 1993, c. 535.)
Sections: 55-1 55-2 55-3 55-4 55-5 55-6 55-7 55-7.1 55-8 55-9 55-10 55-11 55-12 55-12.1 55-12.2 NextLast modified: April 3, 2009