8.2-107 - Goods to be severed from realty; recording. - Virginia Statutes

§ 8.2-107. Goods to be severed from realty; recording.

(1) A contract for the sale of minerals or the like (including oil and gas)or a structure or its materials to be removed from realty is a contract forthe sale of goods within this title if they are to be severed by the sellerbut until severance a purported present sale thereof which is not effectiveas a transfer of an interest in land is effective only as a contract to sell.

(2) A contract for the sale apart from the land of growing crops or otherthings attached to realty and capable of severance without material harmthereto but not described in subsection (1) or of timber to be cut is acontract for the sale of goods within this title whether the subject matteris to be severed by the buyer or by the seller even though it forms part ofthe realty at the time of contracting, and the parties can by identificationeffect a present sale before severance.

(3) The provisions of this section are subject to any third party rightsprovided by the law relating to realty records, and the contract for sale maybe executed and recorded as a document transferring an interest in land andshall then constitute notice to third parties of the buyer's rights under thecontract for sale.

(1964, c. 219; 1973, c. 509.)