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Virginia Fiduciary Deed for use by Executors, Trustees, Trustors, Administrators and other Fiduciaries

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The document is a Virginia Fiduciary Deed form provided by U.S. Legal Forms, Inc., which includes instructions for completing the form, a disclaimer regarding its legal use, and details about recordation taxes and exemptions applicable to various types of property transfers in Virginia. It outlines specific exemptions from recordation taxes for deeds conveying real estate to educational institutions, religious organizations, governmental entities, and other specified entities. The document also includes sections for the grantor and grantee information, legal description of the property, and notary acknowledgment.

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How long does an executor have to settle an estate in Virginia?

Surrogates Court Procedure Act 707 states that a nominated executor is ineligible to serve it if they are: (a) an infant; (b) an incompetent or incapacitated person as determined by the Court; (c) a non-citizen or non-permanent resident of the United States; (d) a felon; and (e) one who does not possess the

What is the code 64.2 508 in Virginia?

Written notice of probate, qualification, and entitlement to copies of inventories, accounts, and reports to be provided to certain parties. 4. All living and ascertained beneficiaries under any will of the decedent previously probated in the same court.

What is a fiduciary deed in real estate?

Fiduciary deeds are just one of several types of deeds used in property transfers. This type is used to transfer property such as real estate when the owner cant sign a deed for legal or other reasons. Fiduciary deeds are commonly employed when settling estates and the original owner of the property is deceased.

What is Section 64.1 57 of the Code of Virginia?

64.1-57. Refers to Section 64.1-57 of the Code of Virginia, 1950, as amended, which lists a number of powers which are granted to a qualified executor when this section is referenced and incorporated into a will. For a list of the powers you can click on the above highlighted link. Testamentary Trust.

Do all wills in Virginia have to be probated?

If the assets are less than $50,000, a full probate may not be necessary. If the assets are joint, pay on death or have named designated beneficiaries, similarly, a probate may not be necessary.

Can an executor be a fiduciary?

Fiduciary - An individual or bank or trust company that acts for the benefit of another. Trustees, executors, and personal representatives are all fiduciaries.

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