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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>369883</law_id><section_number>55.1-327</section_number><catch_line>Sales under deeds of trust that contain no maturity date or provision authorizing sale</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="120" identifier="55.1">Property and Conveyances</unit><unit label="subtitle" level="2" order_by="1" identifier="I">Property Conveyances</unit><unit label="chapter" level="3" order_by="3" identifier="3">Form and Effect of Deeds and Covenants; Liens</unit><unit label="article" level="4" order_by="2" identifier="2">Form and Effect of Deeds of Trust; Sales Thereunder; Assignments; Releases</unit></structure><text>
						<section><p>When any property, real or personal, is conveyed by deed of trust to a trustee to secure the payment of a debt, money, notes, <span class="dictionary">bonds</span>, stocks, or other <span class="dictionary">evidences</span> of debt and there is no date fixed for the maturity thereof and such deed of trust contains no provision authorizing the trustee to make sale of such property, or any part thereof, and the reinvestment of the proceeds of sale in other property subject to the terms of such deed of trust, the <span class="dictionary">circuit</span> <span class="dictionary">court</span>, or such <span class="dictionary">court</span> having <span class="dictionary">jurisdiction</span> of the subject matter, upon a complaint filed by any one or more of the <span class="dictionary">lien</span> debtors, in which complaint all persons interested in such <span class="dictionary">lien</span> and all holders of the <span class="dictionary">evidences</span> of debt secured by the deed of trust thereon, and all other necessary or proper parties, except the <span class="dictionary">plaintiffs</span>, shall be made <span class="dictionary">defendants</span>, may <span class="dictionary">order</span> a sale of such property, or any part thereof, and may invest the proceeds of sale under <span class="dictionary">order</span> of <span class="dictionary">court</span> subject to the terms of the deed of trust, provided that (i) the complaint sets forth <span class="dictionary">facts</span> that will justify the sale of the property, to be verified by the <span class="dictionary">affidavit</span> of at least one of the <span class="dictionary">plaintiffs</span>, (ii) no <span class="dictionary">order</span> shall be made authorizing such sale unless it is shown to the satisfaction of the <span class="dictionary">court</span> that the interests of the <span class="dictionary">lien</span> debtor or debtors will be promoted and the interests of no person holding the <span class="dictionary">evidences</span> of debt secured by the deed of trust will be violated thereby, and (iii) the <span class="dictionary">plaintiff</span> or the <span class="dictionary">party</span> for whose benefit the action is brought shall bear the cost.</p></section></text><history>1932, p. 77; Michie Code 1942, &#xA7; 5167a; Code 1950, &#xA7; 55-61; 2019, c. 712.</history><metadata></metadata></law>
