8.01-26 - Assignment of causes of action. - Virginia Statutes

§ 8.01-26. Assignment of causes of action.

Only those causes of action for damage to real or personal property, whethersuch damage be direct or indirect, and causes of action ex contractu areassignable. The provisions of this section shall not prohibit any injuredparty or his estate from making a voluntary assignment of the proceeds oranticipated proceeds of any court award or settlement as security for newvalue given in consideration of such voluntary assignment.

(1977, c. 617; 1991, c. 256.)