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.
Va. Code Ann. § 8.01-147
When mortgagee or trustee not to recover
Applied in 2 court decisions — leading case Hobson v. United Companies Lending Corp. (1997)
Most recently applied in Fisher v. Surratt (December 2015)
Code 1950, § 8-817; 1977, c. 617.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.