If a decedent‘s personal estate is insufficient to satisfy the decedent’s debts and lawful demands against his estate, all real estate of the decedent, including such real estate that remains after satisfying the debts with which the real estate was charged or was subject to under the decedent’s will, are assets for the payment of the decedent’s debts and all lawful demands against his estate. A decedent’s real estate shall be applied to his debts and lawful demands against his estate in the same order that the personal estate of a decedent is applied pursuant to § 64.2-528.

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Terms Used In Virginia Code 64.2-532

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Decedent: A deceased person.
  • Personal estate: includes chattels real and such other estate as, upon the death of the owner intestate, would devolve upon his personal representative. See Virginia Code 1-233
  • real estate: includes lands, tenements and hereditaments, and all rights and appurtenances thereto and interests therein, other than a chattel interest. See Virginia Code 1-219

Code 1950, § 64-171; 1968, c. 656, § 64.1-181; 2012, c. 614.

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