As used in this title, unless the context otherwise requires:\n'Bona fide purchaser' means a purchaser of property for value who has acted in the transaction in good faith. Notice of a seller's marital status, or notice of the existence of a premarital or marital agreement, does not affect the status of a bona fide purchaser. A 'purchaser' is one who acquires property by sale, lease, discount, negotiation, mortgage, pledge, or lien or who otherwise deals with property in a voluntary transaction, other than a gift. A purchaser gives 'value' for property acquired in return for a binding commitment to extend credit to the transferor or another as security for or in total or partial satisfaction of a pre-existing claim, or in return for any other consideration sufficient to support a simple contract.\n'Fiduciary' includes a guardian, committee, trustee, executor, conservator, or personal representative.\n'Personal representative' includes the executor under a will or the administrator of the estate of a decedent, the administrator of such estate with the will annexed, the administrator of such estate unadministered by a former representative, whether there is a will or not, any person he estate of a decedent, the administrator of such estate with the will annexed, the administrator of such estate unadministered by a former representative, whether there is a will or not, any person who is under the order of a circuit court to take into his possession the estate of a decedent for administration, and every other curator of a decedent's estate, for or against whom suits may be brought for causes of action that accrued to or against the decedent.\n'Trustee' means a trustee under a probated will or an inter vivos trust instrument.\n'Will' includes any testament, codicil, exercise of a power of appointment by will or by a writing in the nature of a will, or any other testamentary disposition.\nCode 1950, § 64-47; 1968, c. 656, § 64.1-45; 1992, cc. 617, 647, § 64.1-01; 2012, c. 614.
Virginia Legal Code