64.1-112 - Distribution of property; refunding bond. - Virginia Statutes

§ 64.1-112. Distribution of property; refunding bond.

Before any distribution of the proceeds of the estate of a person determinedto be dead, or the payment or transfer of any of his other property, is madeand before the sale of any real or personal property passing in kind bypersons claiming the same as heirs at law or devisees, next of kin,distributees, beneficiaries, survivors, or other successors in interest, thepersons entitled to receive such proceeds or such property in kind shall givea refunding bond without surety upon condition that if the person determinedto be dead is in fact alive at that time, they will respectively refund tosuch person the proceeds or property, or proceeds of such property receivedby each on demand, without interest thereon.

(Code 1950, § 64-108; 1962, c. 115; 1968, c. 656; 1996, cc. 675, 684; 2006,c. 351.)