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Virginia Code Title 55.1. Property and Conveyances § 55.1-126. Reformation

Current as of January 01, 2025 | Updated by Findlaw Staff

Upon the petition of an interested person, a circuit court in the county or city in which the affected property or the greater part of such property is located shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the 90 years allowed by subdivision A 2, B 2, or C 2 of § 55.1-124 if:

1. A nonvested property interest or a power of appointment becomes invalid under § 55.1-124;

2. A class gift is not but might become invalid under § 55.1-124 and the time has arrived when the share of any class member is to take effect in possession or enjoyment; or

3. A nonvested property interest that is not validated by subdivision A 1 of § 55.1-124 can vest but not within 90 years after its creation.

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Cite this article: FindLaw.com - Virginia Code Title 55.1. Property and Conveyances § 55.1-126. Reformation - last updated January 01, 2025 | https://codes.findlaw.com/va/title-55-1-property-and-conveyances/va-code-sect-55-1-126/

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