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2019 SESSION

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19103352D
HOUSE BILL NO. 2374 Offered January 9, 2019 Prefiled January 8, 2019 A BILL to amend and reenact § 55-2 of the Code of Virginia, relating to validity of long-term lease of real property. ---------- Patron-- Garrett ---------- Referred to Committee on General Laws ----------

Be it enacted by the General Assembly of Virginia:

1. That § 55-2 of the Code of Virginia is amended and reenacted as follows:

§ 55-2. When deed or will necessary to convey estate; no parol partition or gift valid.

No estate of inheritance or freehold or for a term of more than five years in lands shall be conveyed unless by deed or will, nor shall any voluntary partition of lands by coparceners, having such an estate therein, be made, except by deed; nor shall any right to a conveyance of any such estate or term in land accrue to the donee of the land or those claiming under him, under a gift or promise of gift of the same not in writing, although such gift or promise be followed by possession thereunder and improvement of the land by the donee or those claiming under him. Notwithstanding the provisions of this section, no lease of real property executed prior to July 1, 2019, for a term of five or more years shall be deemed invalid solely because it lacks a seal or a seal substitute as provided by § 11-3.