Terms Used In Virginia Code > Title 13.1 > Chapter 14 > Article 7 - Derivative Actions.

• Beneficial owner: means any owner of a beneficial interest in a business trust, the fact of ownership to be determined and evidenced, whether by means of registration, the issuance of certificates or otherwise, in conformity to the applicable provisions of the governing instrument of the business trust. See Virginia Code 13.1-1201
• Business trust: includes , without limitation, any of the following entities that conform with subdivisions 1 and 2 of this definition:

  (1) A trust of the type known at common law as a "business trust" or "Massachusetts trust";

  (2) A trust qualifying as a real estate mortgage investment conduit under § 860 D of the United States Internal Revenue Code of 1986, as amended, or under any successor provision;

  (3) A trust qualifying as a real estate investment trust under §§ 856 through 859 of the United States Internal Revenue Code of 1986, as amended, or under any successor provision; or

  (4) A "real estate investment trust" or "trust" created under former Chapter 9 of Title 6 or former Chapter 9 of Title 6. See Virginia Code 13.1-1201

• Decedent: A deceased person.
• Decedent: means a deceased person. See Virginia Code 58.1-901
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Executor: A male person named in a will to carry out the decedent
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Trust: includes a common law trust, business trust, and foreign business trust. See Virginia Code 13.1-1201