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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 6.2. Financial Institutions and Services |
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SUBTITLE I. General Provisions |
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CHAPTER 4. Certain Lending Practices |
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ARTICLE 2. Loans Secured By Lien on Real Estate |
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SECTION 6.2-416. Certain mortgages not to prohibit further encumbrance of real property |
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Where any loan is secured by a mortgage or deed of trust on real property comprised of one- to four-family residential dwelling units, the note, or mortgage or deed of trust evidencing such loan shall in no way prohibit the further encumbrance of the real property. 1975, c. 398, § 6.1-2.5; 2010, c. 794 . |