{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-1185.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-1185.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-1185.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-1185.html"}],"law_id":373711,"edition_id":2,"section_id":373711,"structure_id":53172,"section_number":"6.2-1185","catch_line":"Trustees on loans secured by deed of trust","history":"1985, c. 425, \u00a7 6.1-194.68; 2010, c. 794.","full_text":"Any savings institution in connection with making loans secured by deed of trust is empowered to elect a trustee, which may be a service corporation, at such times and for such terms as may be prescribed by its charter or bylaws. All the rights, titles, duties, and obligations of such a trustee relating to loans secured by deed of trust shall pass by operation of law to his successor in office. Every right of the savings institution required to be exercised by or through such trustee, whether it is the sale of property or some other act, shall be done, enforced and carried out by the trustee in office at the time when such rights are exercised by or for the savings institution. All sales or conveyances heretofore or hereafter made by a trustee appointed in the manner designated in this section shall be as valid and binding as though the sale or conveyance had been made by the trustee named in the deed of trust. A majority of the trustees in office are empowered to conduct sales and make conveyances in pursuance thereof with the same force and effect as though all the trustees had acted; and when there are two trustees either one may act.\n\n","order_by":null,"text":{"0":{"id":1394728,"text":"Any savings institution in connection with making loans secured by deed of trust is empowered to elect a trustee, which may be a service corporation, at such times and for such terms as may be prescribed by its charter or bylaws. All the rights, titles, duties, and obligations of such a trustee relating to loans secured by deed of trust shall pass by operation of law to his successor in office. Every right of the savings institution required to be exercised by or through such trustee, whether it is the sale of property or some other act, shall be done, enforced and carried out by the trustee in office at the time when such rights are exercised by or for the savings institution. All sales or conveyances heretofore or hereafter made by a trustee appointed in the manner designated in this section shall be as valid and binding as though the sale or conveyance had been made by the trustee named in the deed of trust. A majority of the trustees in office are empowered to conduct sales and make conveyances in pursuance thereof with the same force and effect as though all the trustees had acted; and when there are two trustees either one may act.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":53172,"edition_id":2,"name":"Real Estate Loans","identifier":"7","label":"article","depth":4,"order_by":7,"parent_id":53165,"metadata":{"child_laws":7,"child_structures":0},"date_created":"2026-08-02 03:12:05","date_modified":"2026-08-02 12:28:03","permalink":{"id":1491433,"object_type":"structure","relational_id":53172,"identifier":"7","token":"6.2\/II\/11\/7","url":"\/6.2\/II\/11\/7\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53165,"edition_id":2,"name":"Savings Institutions","identifier":"11","label":"chapter","depth":3,"order_by":5,"parent_id":53156,"metadata":{"child_laws":106,"child_structures":9},"date_created":"2026-08-02 03:11:54","date_modified":"2026-08-02 12:28:02","permalink":{"id":1491103,"object_type":"structure","relational_id":53165,"identifier":"11","token":"6.2\/II\/11","url":"\/6.2\/II\/11\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53156,"edition_id":2,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":2,"parent_id":53152,"metadata":{"child_laws":483,"child_structures":51},"date_created":"2026-08-02 03:11:42","date_modified":"2026-08-02 12:27:56","permalink":{"id":1490687,"object_type":"structure","relational_id":53156,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53152,"edition_id":2,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":10,"parent_id":null,"metadata":{"child_laws":961,"child_structures":89},"date_created":"2026-08-02 03:11:41","date_modified":"2026-08-02 12:27:53","permalink":{"id":1490251,"object_type":"structure","relational_id":53152,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":373705,"structure_id":53172,"section_number":"6.2-1179","catch_line":"Real estate loans; required investment","url":"\/6.2-1179\/","token":"6.2\/II\/11\/7\/6.2-1179","metadata":false},{"id":373706,"structure_id":53172,"section_number":"6.2-1180","catch_line":"Appraisals; loan-to-value ratios","url":"\/6.2-1180\/","token":"6.2\/II\/11\/7\/6.2-1180","metadata":false},{"id":373707,"structure_id":53172,"section_number":"6.2-1181","catch_line":"Initial repayments on real estate loans","url":"\/6.2-1181\/","token":"6.2\/II\/11\/7\/6.2-1181","metadata":false},{"id":373708,"structure_id":53172,"section_number":"6.2-1182","catch_line":"Adjustable real estate loans","url":"\/6.2-1182\/","token":"6.2\/II\/11\/7\/6.2-1182","metadata":false},{"id":373709,"structure_id":53172,"section_number":"6.2-1183","catch_line":"Special provisions for home loans","url":"\/6.2-1183\/","token":"6.2\/II\/11\/7\/6.2-1183","metadata":false},{"id":373710,"structure_id":53172,"section_number":"6.2-1184","catch_line":"Dealing with successors in interest","url":"\/6.2-1184\/","token":"6.2\/II\/11\/7\/6.2-1184","metadata":false},{"id":373711,"structure_id":53172,"section_number":"6.2-1185","catch_line":"Trustees on loans secured by deed of trust","url":"\/6.2-1185\/","token":"6.2\/II\/11\/7\/6.2-1185","metadata":false}],"previous_section":{"id":373710,"structure_id":53172,"section_number":"6.2-1184","catch_line":"Dealing with successors in interest","url":"\/6.2-1184\/","token":"6.2\/II\/11\/7\/6.2-1184","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1185\/","history_text":"

This law was first created in 1985. The record of its establishment is cataloged in chapter 425 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1985 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1491459,"object_type":"law","relational_id":373711,"identifier":"6.2-1185","token":"6.2\/II\/11\/7\/6.2-1185","url":"\/6.2-1185\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-1185\/","token":"6.2\/II\/11\/7\/6.2-1185","dublin_core":{"Title":"Trustees on loans secured by deed of trust","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1185","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Any savings institution<\/span> in connection with making loans secured by deed of trust is empowered to elect a trustee, which may be a service corporation<\/span>, at such times and for such terms as may be prescribed by its charter or bylaws. All the rights, titles, duties, and obligations of such a trustee relating to loans secured by deed of trust shall pass by operation of law<\/span> to his successor in office. Every right of the savings institution<\/span> required to be exercised by or through such trustee, whether it is the sale of property or some other act, shall be done, enforced and carried out by the trustee in office at the time when such rights are exercised by or for the savings institution<\/span>. All sales or conveyances heretofore or hereafter made by a trustee appointed in the manner designated in this section shall be as valid and binding as though the sale or conveyance had been made by the trustee named in the deed of trust. A majority of the trustees in office are empowered to conduct sales and make conveyances in pursuance thereof with the same force and effect as though all the trustees had acted; and when there are two trustees either one may act.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTRUSTEES ON LOANS SECURED BY DEED OF TRUST (\u00a7 6.2-1185)\n\nAny savings institution in connection with making loans secured by deed of trust\nis empowered to elect a trustee, which may be a service corporation, at such\ntimes and for such terms as may be prescribed by its charter or bylaws. All the\nrights, titles, duties, and obligations of such a trustee relating to loans\nsecured by deed of trust shall pass by operation of law to his successor in\noffice. Every right of the savings institution required to be exercised by or\nthrough such trustee, whether it is the sale of property or some other act,\nshall be done, enforced and carried out by the trustee in office at the time\nwhen such rights are exercised by or for the savings institution. All sales or\nconveyances heretofore or hereafter made by a trustee appointed in the manner\ndesignated in this section shall be as valid and binding as though the sale or\nconveyance had been made by the trustee named in the deed of trust. A majority\nof the trustees in office are empowered to conduct sales and make conveyances in\npursuance thereof with the same force and effect as though all the trustees had\nacted; and when there are two trustees either one may act.\n\nHISTORY: 1985, c. 425, \u00a7 6.1-194.68; 2010, c. 794.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}