2014 Virginia Code
Title 64.2 - Wills, Trusts, and Fiduciaries
§ 64.2-534. Liability of heir or devisee for value of real estate sold and conveyed; validity of premature conveyances

A. Any heir or devisee who sells and conveys any real estate that is an asset for the payment of a decedent's debts or lawful demands against his estate pursuant to § 64.2-532 is liable for the value of such real estate, with interest, to those persons entitled to be paid out of the real estate. However, the heir or devisee is not liable to such persons provided that (i) the conveyance was bona fide and (ii) at the time of such conveyance, no action has been commenced for the administration of the real estate and no reports have been filed of the debts and demands of such creditors.

B. Notwithstanding the provisions of subsection A, no sale and conveyance of such real estate made by an heir or devisee within one year after the death of the decedent is valid against creditors of such decedent, except as otherwise provided in § 64.2-535.

C. Any sale and conveyance made within one year after the death of a decedent is valid against creditors as if it were made more than one year after the death of the decedent, if no action has been commenced for the administration of the real estate and no report of the debts and demands has been filed within one year after the death of the decedent.

Code 1950, § 64-173; 1950, p. 606; 1968, c. 656, § 64.1-183; 2012, c. 614.