Virginia § 55.1-2535 - Election of administrator not to receive property or to postpone taking possession of funds
Full text of Virginia Code of Virginia § 55.1-2535 — Election of administrator not to receive property or to postpone taking possession of funds, with citation guidance and answers to common questions.
§ 55.1-2535. Election of administrator not to receive property or to postpone taking possession of funds
The administrator, after receiving reports of property deemed abandoned pursuant to this chapter, may decline to receive any property reported that he deems to have a value less than the cost of giving notice and holding sale, or he may, if he deems it desirable because of the small sum involved, postpone taking possession until a sufficient sum accumulates. Unless the holder of the property is notified to the contrary within 120 days after filing the report required under § 55.1-2524, the administrator shall be deemed to have elected to receive the custody of the property.
1960, c. 330, § 55-210.23; 2019, c. 712.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 55.1-2535
What does Code of Virginia § 55.1-2535 cover?
Section 55.1-2535 ("Election of administrator not to receive property or to postpone taking possession of funds") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 55.1-2535?
A common citation format is "Code of Virginia § 55.1-2535" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 55.1-2535 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.