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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 64.2. Wills, Trusts, and Fiduciaries |
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SUBTITLE II. Wills and Decedents' Estates |
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CHAPTER 6. Transfers Without Qualification |
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ARTICLE 3. Uniform Transfers on Death (Tod) Security Registration Act |
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SECTION 64.2-618. Nontestamentary transfer on death |
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A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this article, and is not testamentary. This article does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of the Commonwealth. |