23 Va. Admin. Code § 10-320-60
Current through Register Vol. 41, No. 9, December 16, 2024
A deed of release is "[a deed] releasing property from the encumbrance of a mortgage or similar pledge upon payment or performance of the conditions. More specifically, where a deed of trust to one or more trustees has been executed, pledging real property for the payment of a debt or the performance of other conditions, substantially as in the case of a mortgage, a deed of release is the conveyance executed by the trustees, after payment or performance, for the purpose of divesting themselves of the legal title and revesting it in the original owner." [Black's Law Dictionary, Fifth Edition.]
23 Va. Admin. Code § 10-320-60
Statutory Authority
§§ 58.1-203 and 58.1-805 of the Code of Virginia.