Before any distribution of the proceeds of the estate of a person determined to be dead pursuant to this chapter or the payment or transfer of any of his other property is made, and before the sale of any real or personal property passing in kind by persons claiming such property as heirs at law, devisees, next of kin, legatees, beneficiaries, survivors, or other successors in interest, the persons entitled to receive such proceeds or property in kind shall give a refunding bond without surety upon condition that if the person determined to be dead is in fact alive at that time, they will respectively refund to such person the proceeds or property, or proceeds of such property, received by each on demand, without interest thereon.

Code 1950, § 64-108; 1962, c. 115; 1968, c. 656, § 64.1-112; 1996, cc. 675, 684; 2006, c. 351; 2012, c. 614.