Virginia Code 64.2-721: Trusts created in other jurisdictions.
Current as of: 2024 | Check for updates
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A trust not created by will is validly created if its creation complies with the law of the jurisdiction in which the trust instrument was executed, or the law of the jurisdiction in which, at the time of creation:
Terms Used In Virginia Code 64.2-721
- 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.
- Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein. See Virginia Code 64.2-701
- Settlor: except as otherwise provided in § Virginia Code 64.2-701
- Trust instrument: means a record executed by the settlor to create a trust or by any person to create a second trust that contains some or all of the terms of the trust, including any amendments. See Virginia Code 64.2-701
1. The settlor was domiciled, had a place of abode, or was a national;
2. A trustee was domiciled or had a place of business; or
3. Any trust property was located.