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Heirs in Virginia can avoid probate entirely for estates under $50,000 by using a small estate affidavit. This legal form lets one heir collect assets by swearing they’re entitled to the assets.
The general rule attaching to the three types of property may be summarized as: A finder of property acquires no rights in mislaid property, is entitled to possession of lost property against everyone except the true owner, and is entitled to keep abandoned property. [1] This rule varies by jurisdiction. [2]
In Virginia, a small estate affidavit can save time and money when transferring assets from the estate of someone who died.The affidavits can only be used when the estate is valued at less than ...
To obtain a lien on real property in the state of Virginia, the judgment creditor must "docket" the lien in the public records office of the city or county where that property is physically located. Once the lien is docketed, the creditor files a "creditor's bill in equity" in that jurisdiction, which will require the chancellor to appoint a ...
The Land Trust of Virginia (LTV) was originally formed in 1991 as the first statewide nonprofit land trust in the Commonwealth of Virginia.LTV uses a legal tool called a conservation easement to help landowners voluntarily protect scenic, historic or environmentally sensitive lands while keeping the land in private ownership and open for compatible uses, including forestry, farming, recreation ...
In English common law, real property, real estate, immovable property or, solely in the US and Canada, realty, refers to parcels of land and any associated structures which are the property of a person. For a structure (also called an improvement or fixture) to be considered part of the real property, it must be integrated with or affixed to ...
Each U.S. state has a recording act, a statute which dictates the legal procedure by which an individual claiming an interest in real property (real estate) formally establishes their claim to that property. The recordation of property rights becomes particularly significant where an unscrupulous dealer in land purports to sell the same tract ...
The owner fails to present compelling evidence that he has actively marketed the property during the preceding 60-day period and made a good faith effort to sell the property at a price which reflects the circumstances and market conditions. The property is not subject to a pending foreclosure action by an individual or nongovernmental entity.