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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 55.1. Property and Conveyances |
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SUBTITLE I. Property Conveyances |
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CHAPTER 3. Form and Effect of Deeds and Covenants; Liens |
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ARTICLE 3. Satisfaction of Security Interest in Real Property |
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SECTION 55.1-346. Applicability |
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The procedure authorized by this article for the release of a security interest in real property using an automated electronic recording system may be used to effect the release of a security interest regardless of when the security interest was created, assigned, or satisfied by payment made by the settlement agent. The procedure authorized by this section for the release of a security interest shall constitute an optional method of accomplishing a release of a security interest secured by property in the Commonwealth. |