Terms Used In Virginia Code > Title 55.1 > Subtitle II - Real Estate Settlements and Recordation

• advisory board: means the board appointed by the commission in accordance with § 15. See Virginia Code 15.2-4602
• Agency: means any authority, instrumentality, officer, board, or other unit of the government of the Commonwealth with express or implied authority to issue regulations other than the General Assembly, courts, municipal corporations, counties, other local or regional governmental authorities including sanitary or other districts and joint state-federal, interstate or intermunicipal authorities, the Virginia Resources Authority, the Virginia Code Commission with respect to minor changes made under the provisions of § 30-150, and educational institutions operated by the Commonwealth with respect to regulations that pertain to (i) their academic affairs; (ii) the selection, tenure, promotion and disciplining of faculty and employees; (iii) the selection of students; and (iv) rules of conduct and disciplining of students. See Virginia Code 2.2-4101
• Allegation: something that someone says happened.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appraisal: A determination of property value.
• Articles of organization: means all documents constituting, at any particular time, the articles of organization of a limited liability company. See Virginia Code 13.1-1002
• Asset: means property:

  1. See Virginia Code 13.1-1088

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Assignee: means a person to which all or part of a membership interest has been transferred, whether or not the transferor is a member. See Virginia Code 13.1-1002
• Associated asset: means an asset that meets the requirements stated in § 13. See Virginia Code 13.1-1088
• Associated company: means any company in the same corporate system with a pure captive insurer. See Virginia Code 38.2-1101
• Associated member: means , with respect to a protected series, a member that meets the requirements stated in § 13. See Virginia Code 13.1-1088
• Association: means the National Association of Insurance Commissioners. See Virginia Code 55.1-1000
• Association captive insurer: means any domestic insurer transacting the business of insurance and reinsurance only on risks, hazards, and liabilities of the members of an insurance association. See Virginia Code 38.2-1101
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Authority: means the respective political subdivisions of the Commonwealth created in this subpart. See Virginia Code 2.2-2200
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Board: means the State Board of Elections. See Virginia Code 24.2-101
• Board: means the respective boards of directors for the authorities created in this subpart. See Virginia Code 2.2-2200
• Board: means the Board of Agriculture and Consumer Services. See Virginia Code 3.2-100
• Board of supervisors: means the governing body of a county. See Virginia Code 15.2-102
• Bonds: means any bonds, refunding bonds, notes, debentures, interim certificates, or any bond, grant, revenue anticipation notes or any other evidences of indebtedness or obligation of an authority, whether in temporary or definitive form and whether the interest thereon is exempt from federal income taxation. See Virginia Code 2.2-2200
• business of insurance: include solicitation, negotiations preliminary to execution, execution of an insurance contract, and the transaction of matters subsequent to execution of the contract and arising out of it. See Virginia Code 38.2-100
• Captive insurer: means any pure captive insurer or any association captive insurer. See Virginia Code 38.2-1101
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Closing disclosure: means the combined mortgage loan disclosure statement of final loan terms and closing costs prescribed under the Real Estate Settlement Procedures Act of 1974 (RESPA)(12 U. See Virginia Code 55.1-1000
• Commercial real estate: means any real estate other than (i) real estate containing one to four residential units or (ii) real estate classified for assessment purposes under the provisions of Article 4 (§ 58. See Virginia Code 55.1-1100
• Commission: means the State Corporation Commission of Virginia. See Virginia Code 13.1-1002
• Commission: means the State Corporation Commission. See Virginia Code 38.2-100
• Commission: means the Virginia Code Commission. See Virginia Code 2.2-4101
• Commission: means the State Corporation Commission. See Virginia Code 55.1-1000
• Commission: means the governing body of the local district. See Virginia Code 15.2-4602
• Commissioner: means the Commissioner of Agriculture and Consumer Services. See Virginia Code 3.2-100
• Company: means any association, aggregate of individuals, business, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• constitutional officer: means a county or city office or officer referred to in Article VII, § 4 of the Constitution of Virginia: clerk of the circuit court, attorney for the Commonwealth, sheriff, commissioner of the revenue, and treasurer. See Virginia Code 24.2-101
• Converting entity: means the domestic limited liability company, partnership, or limited partnership that adopts a plan of entity conversion pursuant to this article. See Virginia Code 13.1-1081
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Cost: means as applied to a project financed under the provisions of this article, the sum total of all costs reasonable and necessary for carrying out all works and undertakings necessary or incident to accomplish a project, including, but not limited to the cost of all necessary developmental, planning and feasibility studies, surveys, plans and specifications, architectural, engineering, financial, legal or other special services, the cost of acquisition of land and any buildings and improvements thereon, including the discharge of any obligations of the vendor of such land, buildings or improvements, site preparation and development including demolition or removal of existing structures, construction, and reconstruction, furnishing of a project, the reasonable cost of financing incurred in the course of the development of a project, carrying charges during construction to the occupancy date, interest on bonds issued to finance a project to a date subsequent to the estimated date of completion of a project, necessary expenses incurred in connection with the initial occupancy of a project, the cost of reimbursing the Central Capital Planning Fund, established under § 2. See Virginia Code 2.2-2260
• Council: means the governing body of a city or town. See Virginia Code 15.2-102
• County: means any existing county or such unit hereafter created. See Virginia Code 15.2-102
• Courts of record: means the Supreme Court of Virginia, the Court of Appeals of Virginia, and the circuit courts. See Virginia Code 1-212
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the state agency headed by the Commissioner of Elections. See Virginia Code 24.2-101
• Disbursement of loan funds: means the delivery of the loan funds by the lender to the settlement agent in one or more of the following forms:

  1. See Virginia Code 55.1-900

• Disbursement of settlement proceeds: means the payment of all proceeds of the transaction by the settlement agent to the persons entitled to such proceeds. See Virginia Code 55.1-900
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• domestic limited liability company: means an entity that is an unincorporated organization organized and existing under this chapter, or that has become a domestic limited liability company of the Commonwealth pursuant to § 13. See Virginia Code 13.1-1002
• Domestic partnership: means an association of two or more persons to carry on as co-owners a business for profit formed under § 50-73. See Virginia Code 13.1-1002
• Domesticated limited liability company: means the domesticating limited liability company as it continues in existence after a domestication. See Virginia Code 13.1-1074
• Domesticating limited liability company: means the domestic limited liability company that approves a plan of domestication pursuant to § 13. See Virginia Code 13.1-1074
• Domestication: means a transaction pursuant to this article, including domestication of a foreign limited liability company as a domestic limited liability company or domestication of a domestic limited liability company in another jurisdiction, where the other jurisdiction authorizes such a transaction even if by another name. See Virginia Code 13.1-1074
• Election: means a general, primary, or special election. See Virginia Code 24.2-101
• Election district: means the territory designated by proper authority or by law which is represented by an official elected by the people, including the Commonwealth, a congressional district, a General Assembly district, or a district for the election of an official of a county, city, town, or other governmental unit. See Virginia Code 24.2-101
• Eligible interests: means , as to a partnership, partnership interest as specified in § 50-73. See Virginia Code 13.1-1002
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Entity: includes any domestic or foreign limited liability company, any domestic or foreign other business entity, any estate or trust, and any state, the United States, and any foreign government. See Virginia Code 13.1-1002
• Entity conversion: means conversion. See Virginia Code 13.1-1002
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: means written instruments, money, or other items deposited by a party with a settlement agent for delivery to other persons upon the performance of specified conditions or the happening of a certain event. See Virginia Code 55.1-1000
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Foreign limited liability company: means an entity, excluding a foreign business trust, that is an unincorporated organization that is organized under laws other than the laws of the Commonwealth and that is denominated by that law as a limited liability company, and that affords to each of its members, pursuant to the laws under which it is organized, limited liability with respect to the liabilities of the entity. See Virginia Code 13.1-1002
• Foreign series limited liability company: means a foreign limited liability company having at least one foreign protected series. See Virginia Code 13.1-1002
• Fraud: Intentional deception resulting in injury to another.
• Fruit: means any apples and peaches. See Virginia Code 3.2-4600
• furnishings: means any fixtures, leasehold improvements, equipment, office furniture and furnishings whatsoever necessary or desirable for the use and occupancy of such project, and the terms "to furnish" and "furnishing" means the acquisition and installation of such fixtures, equipment and furnishings. See Virginia Code 2.2-2260
• General election: means an election held in the Commonwealth on the Tuesday after the first Monday in November or on the first Tuesday in May for the purpose of filling offices regularly scheduled by law to be filled at those times. See Virginia Code 24.2-101
• General registrar: means the person appointed by the electoral board of a county or city pursuant to § 24. See Virginia Code 24.2-101
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Governing body: means the board of supervisors of a county, council of a city, or council of a town, as the context may require. See Virginia Code 15.2-102
• Grantor: The person who establishes a trust and places property into it.
• Guidance document: means any document developed by a state agency or staff that provides information or guidance of general applicability to the staff or public to interpret or implement statutes or the agency's rules or regulations, excluding agency minutes or documents that pertain only to the internal management of agencies. See Virginia Code 2.2-4101
• in writing: include any representation of words, letters, symbols, numbers, or figures, whether (i) printed or inscribed on a tangible medium or (ii) stored in an electronic or other medium and retrievable in a perceivable form and whether an electronic signature authorized by Chapter 42. See Virginia Code 1-257
• Includes: means includes, but not limited to. See Virginia Code 1-218
• inhabitants: means with reference to any county, city, town, political subdivision of the Commonwealth or any combination thereof, the natural persons in such county, city, town, political subdivision or combination as shown by the unadjusted United States decennial census last preceding the time at which any provision dependent upon population is being applied or the time as of which it is being construed. See Virginia Code 1-235
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insurance association: means any group of individuals, corporations, partnerships, associations, or governmental units or agencies whose members collectively own, control, or hold with power to vote all of the outstanding voting securities of an association captive insurer. See Virginia Code 38.2-1101
• Insurer: means an insurance company. See Virginia Code 38.2-100
• interest: means a member's share of the profits and the losses of the limited liability company and the right to receive distributions of the limited liability company's assets. See Virginia Code 13.1-1002
• Jurisdiction: when used to refer to a political entity, means the United States, a state, a foreign country, or a political subdivision of a foreign country. See Virginia Code 13.1-1002
• Jurisdiction of formation: means the state or country the law of which includes the organic law governing a domestic or foreign limited liability company or other business entity. See Virginia Code 13.1-1002
• Lactation: means a condition that may result in the feeding of a child directly from the breast or the expressing of milk from the breast. See Virginia Code 2.2-3901
• Lay real estate settlement agent: means a person who (i) is not licensed as an attorney under Chapter 39 of Title 54. See Virginia Code 55.1-1000
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lender: means any person regularly engaged in making loans secured by mortgages or deeds of trust on real estate. See Virginia Code 55.1-900
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensing authority: means the (i) Commission acting pursuant to this chapter, Title 6. See Virginia Code 55.1-1000
• Loan closing: means the time agreed upon by the borrower and lender, when the execution of the loan documents by the borrower occurs. See Virginia Code 55.1-900
• Loan documents: means the note evidencing the debt due the lender, the deed of trust, or the mortgage securing the debt due the lender and any other documents required by the lender to be executed by the borrower as a part of the transaction. See Virginia Code 55.1-900
• Loan funds: means the gross or net proceeds of the loan to be disbursed by the lender at loan closing. See Virginia Code 55.1-900
• local electoral board: means a board appointed pursuant to § 24. See Virginia Code 24.2-101
• Locality: means a county, city, or town as the context may require. See Virginia Code 1-221
• managers: means a person or persons designated by the members of a limited liability company to manage the limited liability company as provided in the articles of organization or an operating agreement. See Virginia Code 13.1-1002
• MEI project: means a high-impact regional economic development project in which a private entity is expected to make a capital investment in real and tangible personal property exceeding $250 million and create more than 400 new full-time jobs, and is expected to have a substantial direct and indirect economic impact on surrounding communities. See Virginia Code 2.2-2260
• Member: means a person that has been admitted to membership in a limited liability company as provided in § 13. See Virginia Code 13.1-1002
• Merger: means a business combination pursuant to § 13. See Virginia Code 13.1-1069.1
• Merging company: means a limited liability company that is party to a merger under § 13. See Virginia Code 13.1-1088
• Month: means a calendar month and "year" means a calendar year. See Virginia Code 1-223
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Non-surviving company: means a merging company whose separate existence ceases after a merger under § 13. See Virginia Code 13.1-1088
• Notary: means notary public. See Virginia Code 1-226
• Notification: means a statement acknowledging that the purchaser has been advised of any disclosures required by this chapter on the Real Estate Board's website or delivery of any such disclosures to the purchaser. See Virginia Code 55.1-700
• Operating agreement: means an agreement of the members as to the affairs of a limited liability company and the conduct of its business, or a writing or agreement of a limited liability company with one member that satisfies the requirements of subdivision A 2 of § 13. See Virginia Code 13.1-1002
• Organic law: means the statute governing the internal affairs of a domestic or foreign limited liability company or other business entity. See Virginia Code 13.1-1002
• Other business entity: means a domestic or foreign partnership, limited partnership, business trust, stock corporation, or nonstock corporation. See Virginia Code 13.1-1002
• Parent: means a corporation, partnership, governmental unit or agency, or individual who directly or indirectly owns, controls or holds, with power to vote, more than fifty percent of the outstanding voting securities of a pure captive insurer. See Virginia Code 38.2-1101
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Party to a merger: means any domestic or foreign limited liability company or other business entity that will merge under a plan of merger. See Virginia Code 13.1-1069.1
• Party to the real estate transaction: means , with respect to that real estate transaction, a lender, seller, purchaser, or borrower and, with respect to a corporate purchaser, any entity that is a subsidiary of or under common ownership with that corporate purchaser. See Virginia Code 55.1-1000
• Person: includes a protected series. See Virginia Code 13.1-1002
• Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
• Person with a disability: means a person with a disability as defined by the Virginians with Disabilities Act (§ 51. See Virginia Code 24.2-101
• Personal property: All property that is not real property.
• Personal property: means all items of equipment, fixtures, and furnishings, including items affixed to real property. See Virginia Code 2.2-2260
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• political party: means an organization of citizens of the Commonwealth which, at either of the two preceding statewide general elections, received at least 10 percent of the total vote cast for any statewide office filled in that election. See Virginia Code 24.2-101
• Polling place: means the structure that contains the one place provided for each precinct at which the qualified voters who are residents of the precinct may vote. See Virginia Code 24.2-101
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Precinct: means the territory designated by the governing body of a county, city, or town to be served by one polling place. See Virginia Code 24.2-101
• President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• primary election: means an election held for the purpose of selecting a candidate to be the nominee of a political party for election to office. See Virginia Code 24.2-101
• Principal broker: means the same as that term is defined in regulations promulgated by the Real Estate Board. See Virginia Code 55.1-1100
• Principal office: means the office, in or out of the Commonwealth, where the principal executive offices of a domestic or foreign limited liability company are located or, if there are no such offices, the office, in or out of the Commonwealth, so designated by the limited liability company. See Virginia Code 13.1-1002
• Probate: Proving a will
• Project: means any structure, facility, personal property or undertaking that the Authority is authorized to finance, refinance, construct, improve, furnish, equip, maintain, acquire, or operate under the provisions of this article. See Virginia Code 2.2-2260
• Property: means all property, whether real, personal, or mixed or tangible or intangible, or any right or interest therein. See Virginia Code 13.1-1002
• Protected series assignee: includes a person that owns a protected series membership interest as a result of ceasing to be an associated member of a protected series. See Virginia Code 13.1-1088
• Protected series manager: means a person under whose authority the powers of a protected series are exercised and under whose direction the activities and affairs of the protected series are managed pursuant to the operating agreement, this article, and other provisions of this chapter. See Virginia Code 13.1-1088
• Protected series membership interest: means the share of the profits and losses of a protected series and the right to receive distributions. See Virginia Code 13.1-1088
• Public corporation: means the Commonwealth of Virginia or any political subdivision thereof or any incorporated municipality therein or any public agency of the Commonwealth or of any political subdivision thereof or of any municipality therein. See Virginia Code 1-219.1
• Pure captive insurer: means any domestic insurer transacting the business of insurance and reinsurance only on risks, hazards, and liabilities of its parent, subsidiary companies of its parent, and associated and affiliated companies. See Virginia Code 38.2-1101
• Qualified voter: means a person who is entitled to vote pursuant to the Constitution of Virginia and who is (i) 18 years of age on or before the day of the election or qualified pursuant to § 24. See Virginia Code 24.2-101
• Quorum: The number of legislators that must be present to do business.
• rates: means any rate of premium, policy fee, membership fee or any other charge made by an insurer for or in connection with a contract or policy of insurance. See Virginia Code 38.2-100
• Ratification: means the full execution of a real estate purchase contract by all parties. See Virginia Code 55.1-700
• Real estate contract: means a contract for the sale, exchange, or lease with the option to buy of residential real estate subject to this chapter. See Virginia Code 55.1-700
• Real Estate Settlement Procedures Act: Federal law that, among other things, requires lenders to provide "good faith" estimates of settlement costs and make other disclosures regarding the mortgage loan. RESPA also limits the amount of funds held in escrow for real estate taxes and insurance. ^{Source: OCC}
• Referendum: means any election held pursuant to law to submit a question to the voters for approval or rejection. See Virginia Code 24.2-101
• Registered voter: means any person who is maintained on the Virginia voter registration system. See Virginia Code 24.2-101
• Registrar: means the Registrar of Regulations employed as provided in § 2. See Virginia Code 2.2-4101
• Registration records: means all official records concerning the registration of qualified voters and shall include all records, lists, applications, and files, whether maintained in books, on cards, on automated data bases, or by any other legally permitted record-keeping method. See Virginia Code 24.2-101
• regulation: means any statement of general application, having the force of law, affecting the rights or conduct of any person, promulgated by an agency in accordance with the authority conferred on it by applicable basic laws. See Virginia Code 2.2-4101
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Resulting entity: means the domestic stock corporation, business trust, or limited liability company that is in existence upon consummation of an entity conversion pursuant to this article. See Virginia Code 13.1-1081
• Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). ^{Source: OCC}
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Settlement: means the time when the settlement agent has received the duly executed deed, loan funds, loan documents, and other documents and funds required to carry out the terms of the contract between the parties and the settlement agent reasonably determines that prerecordation conditions of such contracts have been satisfied. See Virginia Code 55.1-900
• Settlement agent: means the person responsible for conducting the settlement and disbursement of the settlement proceeds and includes any individual, corporation, partnership, or other entity conducting the settlement and disbursement of loan proceeds. See Virginia Code 55.1-900
• Settlement agent: means a person, other than a party to the real estate transaction, that provides escrow, closing, or settlement services in connection with a transaction related to real estate in the Commonwealth and that is listed as the settlement agent on the settlement statement or closing disclosure for such transaction. See Virginia Code 55.1-1000
• Settlement service provider: means any person providing settlement services, as that term is defined under the federal Real Estate Settlement Procedures Act (12 U. See Virginia Code 55.1-900
• Settlement statement: means the statement of receipts and disbursements for a transaction related to real estate, including a statement prescribed under the Real Estate Settlement Procedures Act of 1974 (RESPA)(12 U. See Virginia Code 55.1-1000
• Sign: means , with present intent to authenticate or adopt a record, to execute or adopt a tangible symbol or to attach to or logically associate with the record an electronic symbol, sound, or process. See Virginia Code 13.1-1002
• Special election: means any election that is held pursuant to law to fill a vacancy in office or to hold a referendum. See Virginia Code 24.2-101
• State: means any commonwealth, state, territory, district or insular possession of the United States. See Virginia Code 38.2-100
• state: means the Commonwealth of Virginia or any of its agencies or departments. See Virginia Code 2.2-2200
• state agency: means the same as that term is defined in § 2. See Virginia Code 1-206
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Supervisor: means a member of the board of supervisors of a county. See Virginia Code 15.2-102
• Supreme Court: means the Supreme Court of Virginia. See Virginia Code 1-249
• Surviving company: means a merging company that is the survivor of a merger under § 13. See Virginia Code 13.1-1088
• sworn: means "affirm" or "affirmed. See Virginia Code 1-250
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• Testify: Answer questions in court.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Town: means any existing town or an incorporated community within one or more counties which became a town before noon, July one, nineteen hundred seventy-one, as provided by law or which has within defined boundaries a population of 1,000 or more and which has become a town as provided by law. See Virginia Code 15.2-102
• Transfer: includes an assignment, a conveyance, a sale, a lease, an encumbrance including a mortgage or security interest, a gift, and a transfer by operation of law. See Virginia Code 13.1-1002
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
• Virginia Administrative Code: means the codified publication of regulations under the provisions of Chapter 15 of Title 30. See Virginia Code 2.2-4101
• Virginia Register of Regulations: means the publication issued under the provisions of Article 6 (§ 2. See Virginia Code 2.2-4101
• voter registration system: means the automated central record-keeping system for all voters registered within the Commonwealth that is maintained as provided in Article 2 (§ 24. See Virginia Code 24.2-101
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.