An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1934 |
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Law Number | 297 |
Subjects |
Law Body
Chap. 297.—An ACT to amend and re-enact section 5827 of the Code of Virginia,
as heretofore amended, relating to limitation of enforcement of deeds of trusts,
mortgages and liens to secure payment of unpaid purchase money.
[H B 70]
Approved March 29, 1934
I. Be it enacted by the General Assembly of Virginia, That section
fifty-eight hundred and twenty-seven of the Code of Virginia, as here-
tofore amended, be amended and re-enacted so as to read as follows:
Section 5827. No deed of trust or mortgage heretofore or hereafter
given to secure the payment of money and no lien heretofore or here-
aiter reserved to secure the payment of unpaid purchase money, shall
be enforced after twenty years from the time when the original obliga-
tion last maturing thereby secured shall have become due and payable;
provided that the period of one year from the death of any party in in-
terest shall be excluded from the computation of time; but the limita-
tions prescribed by this section may be extended by an endorsement to
that effect, entered prior to the expiration of the limitation period pre-
scribed herein upon the margin of the page of deed book on which the
same is recorded, 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 re-
corded, which endorsement shall be held to extend the limitations of
the right to enforce said lien for twenty years from the date of such
endorsement. The clerk of the said 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 orig-
inal writing is recorded. This section shall not be construed to em-
brace any deed of trust or mortgage executed by a corporation, or any
investment or loan of funds arising from the sale or other disposition
of glebe lands in the several counties of the State; provided, however,
this section shall continue in force as it was prior to this amendment,
until January first, nineteen hundred and thirty-five and thereafter it
shall be in force as hereby amended.
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