64.1-202 - Purchaser for value or lender.
§ 64.1-202. Purchaser for value or lender.
A. If a surviving spouse has apparent title to property to which this chapterapplies, a purchaser for value or a lender taking a security interest in theproperty takes his interest in the property free of any rights of thepersonal representative or an heir or devisee of the decedent.
B. If a personal representative or an heir or devisee of the decedent hasapparent title to property to which this chapter applies, a purchaser forvalue or a lender taking a security interest in the property takes hisinterest in the property free of any rights of the surviving spouse.
C. A purchaser for value or a lender need not inquire whether a vendor orborrower acted properly.
D. The proceeds of a sale or creation of a security interest shall be treatedin the same manner as the property transferred to the purchaser for value ora lender.
(1982, c. 456.)