Virginia Code 64.2-612: Definitions
In this article, unless the context otherwise requires:
Terms Used In Virginia Code 64.2-612
- Decedent: A deceased person.
- Executor: A male person named in a will to carry out the decedent
- Includes: means includes, but not limited to. See Virginia Code 1-218
- Intestate: Dying without leaving a will.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
- Personal property: All property that is not real property.
- Personal representative: includes an executor, administrator, successor, personal representative, special administrator, and a person who performs substantially the same function under the law governing his status. See Virginia Code 64.2-612
- Property: includes both real and personal property or any interest therein and means anything that may be the subject of ownership. See Virginia Code 64.2-612
- Security: means a share, participation, or other interest in property, in a business, or in an obligation of an enterprise or other issuer, and includes a certificated security, an uncertificated security, and a security account. See Virginia Code 64.2-612
- Security account: means (i) a reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account, or a brokerage account, whether or not credited to the account before the owner's death, or (ii) a cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner's death. See Virginia Code 64.2-612
“Beneficiary form” means a registration of a security that indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner.
“Devisee” means any person designated in a will to receive a disposition of real or personal property.
“Heirs” means those persons, including the surviving spouse, who are entitled under the laws of intestate succession to the property of a decedent.
“Personal representative” includes an executor, administrator, successor, personal representative, special administrator, and a person who performs substantially the same function under the law governing his status.
“Property” includes both real and personal property or any interest therein and means anything that may be the subject of ownership.
“Register,” including its derivatives, means to issue a certificate showing the ownership of a certificated security or, in the case of an uncertificated security, to initiate or transfer an account showing ownership of securities.
“Registering entity” means a person who originates or transfers a security title by registration, and includes a broker maintaining security accounts for customers and a transfer agent or other person acting for or as an issuer of securities.
“Security” means a share, participation, or other interest in property, in a business, or in an obligation of an enterprise or other issuer, and includes a certificated security, an uncertificated security, and a security account.
“Security account” means (i) a reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account, or a brokerage account, whether or not credited to the account before the owner’s death, or (ii) a cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner’s death.