55-87 - Loans and reservations of a use or property to be recorded. - Virginia Statutes

§ 55-87. Loans and reservations of a use or property to be recorded.

When any loan of goods or chattels is pretended to have been made to anyperson with whom, or those claiming under him, possession shall have remainedfive years without demand made and pursued by due process of law on the partof the pretended lender, or when any reservation or limitation is pretendedto have been made of a use or property by way of condition, reversion,remainder or otherwise in goods or chattels the possession whereof shall haveso remained in another as aforesaid, the absolute property shall be taken tobe with the possession and such loan, reservation or limitation void as tocreditors of, and purchasers from, the person so remaining in possession,unless such loan, reservation or limitation be declared by will which, or acopy of which, or by deed or other writing which, is duly admitted to recordwithin such period of five years in the county or corporation in which thegoods or chattels may be.

(Code 1919, § 5188.)