CODE OF VIRGINIA TRANSFER OF PROPERTY AND INDEBTEDNESS (§ 15.2-3708) Upon the effective date of annulment, the title to all property, real and personal, tangible and intangible, of the former town shall be vested in, and the indebtedness become a debt of, the county or counties in which the town was located without any further act or deed. HISTORY: 1992, c. 453, § 15.1-965.37; 1997, c. 587.