§ 64.1-202. Purchaser for value or lender
A. If a surviving spouse has apparent title to property to which this chapter applies, a purchaser for value or a lender taking a security interest in the property takes his interest in the property free of any rights of the personal representative or an heir or devisee of the decedent.
B. If a personal representative or an heir or devisee of the decedent has apparent title to property to which this chapter applies, a purchaser for value or a lender taking a security interest in the property takes his interest in the property free of any rights of the surviving spouse.
C. A purchaser for value or a lender need not inquire whether a vendor or borrower acted properly.
D. The proceeds of a sale or creation of a security interest shall be treated in the same manner as the property transferred to the purchaser for value or a lender.
(1982, c. 456.)
Sections: Previous 64.1-197 64.1-198 64.1-199 64.1-200 64.1-201 64.1-202 64.1-203 64.1-204 64.1-205 64.1-206 NextLast modified: April 3, 2009