If any interest in or claim to real estate or personal property is disposed of by deed or will for life, with a limitation in remainder over, and the same instrument confers expressly or by implication a power upon the life tenant in his lifetime or by will to dispose absolutely of such property, the limitation in remainder over shall not fail, or be defeated, except to the extent that the life tenant lawfully exercised such power of disposal. A deed of trust or mortgage executed by the life tenant shall not be construed to be an absolute disposition of the estate, unless such estate is sold under the deed of trust or mortgage. A power of disposal held by any person in a fiduciary capacity under an express trust in writing shall not be deemed to be held by such fiduciary in a beneficial capacity and shall not be construed in any manner to enlarge the beneficial interest otherwise given to him under such trust.
Code 1919, § 5147; Code 1950, § 55-7; 1978, c. 659; 2005, c. 935; 2019, c. 712.
Structure Code of Virginia
Title 55.1 - Property and Conveyances
Chapter 1 - Creation and Limitation of Estates
§ 55.1-100. Aliens may acquire, hold, and transmit real estate; when reciprocity required
§ 55.1-101. When deed or will necessary to convey estate; no parol partition or gift valid
§ 55.1-102. When gift of personal property invalid
§ 55.1-103. Suicide or attainder of felony
§ 55.1-104. Estates to lie in grant as well as in livery
§ 55.1-105. Same estates may be created by deed as by will
§ 55.1-107. Default or surrender of tenant for life not to prejudice remainderman
§ 55.1-108. Conveyance of estate or interest in property by grantor to himself and another
§ 55.1-109. Deed valid for grantor's right; operation of warranty
§ 55.1-110. Conveyance, devise, or grant without words of limitation
§ 55.1-111. Fee tail converted into fee simple
§ 55.1-113. Doctrine of worthier title abolished
§ 55.1-114. When contingent remainder not to fail
§ 55.1-115. When remainders not defeated
§ 55.1-116. In what conveyances possession transferred to the use
§ 55.1-118. Deed of release effectual
§ 55.1-119. When person not a party, etc., may take or sue under instrument
§ 55.1-120. Informalities in deeds made by attorneys-in-fact
§ 55.1-121. Time for objections to irregularities in advertising sales made by trustees
§ 55.1-122. Recovery at death of life tenant of taxes paid on life estate
§ 55.1-123. Removal of a cloud on title; nature of plaintiff's title
§ 55.1-124. Uniform Statutory Rule Against Perpetuities
§ 55.1-125. When nonvested property interest or power of appointment created
§ 55.1-127. Exclusions from statutory rule against perpetuities
§ 55.1-128. Prospective application
§ 55.1-129. Uniformity of application and construction
§ 55.1-130. Certain limitations construed
§ 55.1-132. Determination of "lives in being" for purpose of rule against perpetuities
§ 55.1-133. Application of the rule against perpetuities to nondonative transfers
§ 55.1-134. Survivorship between joint tenants abolished
§ 55.1-135. Joint ownership in real and personal property
§ 55.1-136. Tenants by the entirety in real and personal property; certain trusts