Chap. 331.—An ACT to amend and re-enact Section 5827 of the Code of Virginia,
as amended, relating to limitations on enforcement of deeds of trust, mortgages
and certain other liens. [H 258]

Approved March 29, 1944

Be it enacted by the General Assembly of Virginia:

1. That section fifty-eight hundred twenty-seven of the Code of Vir-
ginia, as amended, be amended and re-enacted, as follows:

Section 5827. Limitation of enforcement of deeds of trust, mortgages
and liens to secure payment of unpaid purchase money.—No deed of trust
or mortgage heretofore or hereafter given to secure the payment of money
and no lien heretofore or hereafter reserved to secure the payment of un-
paid purchase money, shall be enforced after twenty years from the time
when the original obligation last maturing thereby secured shall have be-
come due and payable; provided that the period of one year from the
death of any party in interest shall be excluded from the computation of
time. The limitations prescribed by this section may be extended by an
endorsement to that effect, entered prior to the expiration of the limitation
period prescribed herein upon the margin of the page of the deed book on
which the same is recorded, and when such endorsement is duly executed
by the party in whom the beneficial title to the property so encumbered is
at the time of such endorsement or his duly authorized attorney in fact.
or agents, and attested by the clerk of the court in which such lien is
recorded, the endorsement shall be held to extend the limitations of the
right to enforce the lien for twenty years from the date of such endorse-
ment. The clerk of the court shall index said extension in both names
in the index of the deed book and on the general index in his office, and
give reference to the book and page in which the original writing is re-
corded. Unless the deed or deeds executed pursuant to the foreclosure
of any mortgage or to the execution of or sale under any deed of trust be
recorded in the county or corporation where the land is situated within
one year after the time the right to enforce the mortgage or deed of trust
shall have expired as hereinabove provided, such deed or deeds shall be
void as to all purchasers for valuable consideration without notice and lien
creditors who shall make any purchase of or acquire any lien on the land
conveyed by any such deed prior to the time such deed is so recorded.
This section shall not be construed to embrace any investment or loan of
funds arising from the sale or other disposition of glebe lands in the sev-
eral counties of the State.

This action shall continue in force as it was prior to this amendment
until July first, nineteen hundred forty-five and thereafter it shall be in
force as hereby amended. ,