CHAPTER 17

AN ACT to amend and reenact 8 8-11 of the Code of 1950 relating
to limitation of enforcement of deeds of trust, mortgages and
liens to secure payment of unpaid purchase money. ;

[H 11

Approved February 13, 1950

Be it enacted by the General Assembly of Virginia:

1. That § 811 of the Code of 1950 be amended and reenacted as
follows:

§ 811. Limitation of enforcement of deeds of trust, mort-
gages and liens for 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 scure the
payment of unpaid purchase money, shall be enforced after twenty
vears from the time when the original obligation last maturing
thereby secured shall have become due and payable according tc
its terms and without regard to any provision for the acceleration
of such date; 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 bene-
ficial 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 endorsement. The clerk of the court shall index such exten-
sion in both names in the index of the deed book and on the gen-
eral index in his office, and give reference to the book and page
in which the original writing is recorded. 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 purchases for valuable considera-
tion without notice and lien creditors who 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 several counties
of the State.

2. This section shall take effect as amended on July one, nineteen
hundred fifty.