6.1-194.67 - (Repealed effective October 1, 2010) Dealing with successors in interest. - Virginia Statutes

§ 6.1-194.67. (Repealed effective October 1, 2010) Dealing with successors ininterest.

In the case of any investment made by a savings institution in a real estateloan, in the event the ownership of the real estate security or any partthereof becomes vested in a person other than the party or parties originallyexecuting the security instruments, and provided there is not an agreement inwriting to the contrary, a savings institution may, without notice to suchparty or parties, deal with such successor or successors in interest withreference to that mortgage and the debt thereby secured in the same manner aswith such party or parties. The savings institution may forbear to sue ormay extend time for payment of or otherwise modify the terms of the debtsecured thereby, without discharging or in any way affecting the originalliability of such party or parties thereunder or upon the debt therebysecured.

(1985, c. 425.)