Virginia Code 64.2-1406: Notice required; certain substitutions validated
A. Reasonable notice of a motion made pursuant to § 64.2-1405 for the appointment of a substitute trustee shall be provided to all persons interested in the execution of the trust other than the moving party. If any interested person is under 18 years of age, the circuit court or clerk shall appoint a discreet and competent attorney-at-law as guardian ad litem for such person on whom notice may be served. If any interested person is incapacitated or incarcerated, the notice shall be served on his committee, guardian, or conservator, if any, or if none exists, the court or clerk shall appoint a discreet and competent attorney-at-law as a guardian ad litem for such person on whom notice may be served. Notice does not need to be given to a trustee or, if one has previously been appointed, a substitute trustee who no longer resides the Commonwealth, declined to accept the trust, or resigned, or to the personal representative of a deceased trustee, or to a corporate trustee that has been adjudicated bankrupt or that has lost its charter.
Terms Used In Virginia Code 64.2-1406
- Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
- Personal representative: includes the executor of a will or the administrator of the estate of a decedent, the administrator of such estate with the will annexed, the administrator of such estate unadministered by a former representative, whether there is a will or not, any person who is under the order of a circuit court to take into his possession the estate of a decedent for administration, and every other curator of a decedent's estate, for or against whom suits may be brought for causes of action that accrued to or against the decedent. See Virginia Code 1-234
- Trustee: A person or institution holding and administering property in trust.
- Trustee: means a trustee under a probated will or an inter vivos trust instrument. See Virginia Code 64.2-100
B. In the case of the substitution of the trustee in a deed of trust securing the payment of indebtedness, notice of the motion made pursuant to § 64.2-1405 need only be given to the trustee or, if one has previously been appointed, to the substitute trustee unless notice to him is not required pursuant to subsection A; any beneficiaries appearing of record or known to the moving party; any debtors mentioned in the deed of trust; any persons who may be shown by the deed records to have assumed payment of the indebtedness in whole or in part; and the person in whom the equitable title to the property conveyed by the deed of trust is vested at the time of the motion as shown by the deed records. In such case when the written notice of motion has been filed in the clerk’s office of the court having jurisdiction as defined in § 64.2-1405, service of the notice as to all parties mentioned in § 8.01-316 may be made in conformity with the provisions of §§ 8.01-316, 8.01-317, 8.01-318, 8.01-320, 8.01-322, and 8.01-323.
C. Any decree or order of substitution heretofore made by a court of competent jurisdiction is hereby validated.
D. Nothing in this section shall be construed as preventing a court from substituting a trustee in a suit instituted for that purpose.
Code 1919, § 6299; 1930, p. 350; 1932, p. 135; 1934, p. 156; 1944, p. 337; Code 1950, § 26-50; 1972, c. 825; 1997, c. 921; 2012, c. 614.