Virginia Code 8.01-147: When mortgagee or trustee not to recover
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The payment of the whole sum, or the performance of the whole duty, or the accomplishment of the whole purpose, which any mortgage or deed of trust may have been made to secure or effect, shall prevent the grantee, or his heirs, from recovering at law, by virtue of such mortgage or deed of trust, property thereby conveyed, whenever the defendant would in equity be entitled to a decree, revesting the legal title in him without condition.
Terms Used In Virginia Code 8.01-147
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Code 1950, § 8-817; 1977, c. 617.