When any loan of personal property is pretended to have been made to any person with whom, or with those claiming under him, possession has remained five years without demand made and pursued by due process of law on the part of the pretended lender, or when any reservation or limitation is pretended to have been made of a use or property by way of condition, reversion, remainder, or otherwise in personal property, the possession of which has so remained in another as aforesaid, the absolute property shall be taken to be with the possession and such loan, reservation, or limitation void as to creditors of, and purchasers from, the person so remaining in possession, unless such loan, reservation, or limitation is declared by will which, or a copy of which, or by deed or other writing which, is duly recorded within a period of five years in the circuit court of the county or city in which the personal property is located.
Code 1919, § 5188; Code 1950, § 55-87; 2019, c. 712.
Structure Code of Virginia
Title 55.1 - Property and Conveyances
Chapter 4 - Fraudulent and Voluntary Conveyances; Writings Necessary to Be Recorded
§ 55.1-400. Void fraudulent acts; bona fide purchasers not affected
§ 55.1-402. Creditor's action to avoid such gifts, conveyances, assignments, transfers, or charges
§ 55.1-403. Creditor's action; attorney fees
§ 55.1-404. Authority of court to set aside
§ 55.1-405. Loans and reservations of a use or property to be recorded
§ 55.1-406. Certain recorded contracts as valid as deeds
§ 55.1-408. Where to be recorded
§ 55.1-409. Recordation of instruments affecting civil aircraft of United States
§ 55.1-410. Priority of writings when admitted to record same day
§ 55.1-411. When writings to be recorded in county, and when in city
§ 55.1-412. Words "creditors" and "purchasers," how construed
§ 55.1-413. Lien of subsequent purchaser for purchase money paid before notice
§ 55.1-414. When purchaser not affected by record of deed or contract