{"law_id":"769006","section_number":"8.01-480","catch_line":"Prior security interest on property levied on","history":"Code 1950, \u00a7 8-413; 1977, c. 617; 1979, c. 491; 1990, c. 553.","order_by":null,"metadata":{"court_decisions":{}},"court_decisions":{},"official_url":"http:\/\/law.lis.virginia.gov\/vacode\/8.01-480\/","refers_to":false,"url":"\/8.01-480\/","token":"8.01\/18\/2\/8.01-480","structure":{"1":{"id":"877","name":"Lien In General","identifier":"2","label":"article","url":"\/8.01\/18\/2\/"},"2":{"id":"468","name":"Executions And Other Means Of Recovery","identifier":"18","label":"chapter","url":"\/8.01\/18\/"},"3":{"id":"52","name":"Civil Remedies And Procedure","identifier":"8.01","label":"title","url":"\/8.01\/"}},"referred_to_by":[{"id":"770080","section_number":"6.2-2304","catch_line":"Duty to deny access to safe deposit boxes under certain conditions","url":"\/6.2-2304\/"},{"id":"780754","section_number":"8.01-501","catch_line":"Lien of fieri facias on estate of debtor not capable of being levied on","url":"\/8.01-501\/"}],"edition_id":"11","section_id":"769006","structure_id":"877","full_text":"Tangible personal property subject to a prior security interest, or in which the execution debtor has only an equitable interest, may nevertheless be levied on for the satisfaction of a fieri facias. If the prior security interest is due and payable, the officer levying the fieri facias may sell the property free of such security interest, and apply the proceeds first to the payment of such security interest, and the residue, so far as necessary, to the satisfaction of the fieri facias. In the event the property is to be sold free of such prior security interest, the judgment creditor shall give written notice by certified mail to each secured party of record as hereafter specified, as his name and address shall appear on record, of the proposed sale, or to any secured party of whom the judgment creditor shall have actual knowledge. Such notice shall be given to each secured party who is of record at the State Corporation Commission, at the Department of Motor Vehicles, at the Department of Game and Inland Fisheries, or in the clerk’s office in the city or county in Virginia, where the debtor has resided to the knowledge of the judgment creditor at any time during a one-year period prior to the sale. Certification of such notice shall be delivered to the sheriff or other officer conducting the sale pursuant to execution of the judgment, who shall announce that except as to such person so notified, the sale is subject to any prior security interest of record, other than one of record at a place where the debtor may have resided more than one year previously. If such prior security interest is not due and payable at the time of sale, such officer shall sell the property levied on subject to such security interest.","text":{"0":{"id":"2478784","text":"Tangible personal property subject to a prior security interest, or in which the execution debtor has only an equitable interest, may nevertheless be levied on for the satisfaction of a fieri facias. If the prior security interest is due and payable, the officer levying the fieri facias may sell the property free of such security interest, and apply the proceeds first to the payment of such security interest, and the residue, so far as necessary, to the satisfaction of the fieri facias. In the event the property is to be sold free of such prior security interest, the judgment creditor shall give written notice by certified mail to each secured party of record as hereafter specified, as his name and address shall appear on record, of the proposed sale, or to any secured party of whom the judgment creditor shall have actual knowledge. Such notice shall be given to each secured party who is of record at the State Corporation Commission, at the Department of Motor Vehicles, at the Department of Game and Inland Fisheries, or in the clerk’s office in the city or county in Virginia, where the debtor has resided to the knowledge of the judgment creditor at any time during a one-year period prior to the sale. Certification of such notice shall be delivered to the sheriff or other officer conducting the sale pursuant to execution of the judgment, who shall announce that except as to such person so notified, the sale is subject to any prior security interest of record, other than one of record at a place where the debtor may have resided more than one year previously. If such prior security interest is not due and payable at the time of sale, such officer shall sell the property levied on subject to such security interest.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":{"1":{"id":"877","name":"Lien In General","identifier":"2","label":"article","url":"\/8.01\/18\/2\/"},"2":{"id":"468","name":"Executions And Other Means Of Recovery","identifier":"18","label":"chapter","url":"\/8.01\/18\/"},"3":{"id":"52","name":"Civil Remedies And Procedure","identifier":"8.01","label":"title","url":"\/8.01\/"}},"structure_contents":{"0":{"id":"765682","structure_id":"877","section_number":"8.01-478","catch_line":"On what property writ of fieri facias levied; when lien commences","url":"\/8.01-478\/","token":"8.01\/18\/2\/8.01-478"},"1":{"id":"779283","structure_id":"877","section_number":"8.01-479","catch_line":"Time for enforcement","url":"\/8.01-479\/","token":"8.01\/18\/2\/8.01-479"},"2":{"id":"769006","structure_id":"877","section_number":"8.01-480","catch_line":"Prior security interest on property levied on","url":"\/8.01-480\/","token":"8.01\/18\/2\/8.01-480"},"3":{"id":"782712","structure_id":"877","section_number":"8.01-481","catch_line":"Territorial extent of lien","url":"\/8.01-481\/","token":"8.01\/18\/2\/8.01-481"},"4":{"id":"767881","structure_id":"877","section_number":"8.01-482","catch_line":"If levy be on coin or currency, how accounted for","url":"\/8.01-482\/","token":"8.01\/18\/2\/8.01-482"}},"previous_section":{"id":"779283","structure_id":"877","section_number":"8.01-479","catch_line":"Time for enforcement","url":"\/8.01-479\/","token":"8.01\/18\/2\/8.01-479"},"next_section":{"id":"782712","structure_id":"877","section_number":"8.01-481","catch_line":"Territorial extent of lien","url":"\/8.01-481\/","token":"8.01\/18\/2\/8.01-481"},"references":false,"formats":{"txt":"\/8.01-480.txt","json":"\/8.01-480.json","xml":"\/8.01-480.xml"},"dublin_core":{"Title":"Prior security interest on property levied on","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.01-480","Relation":"Code of Virginia"},"plain_text":"                                 CODE OF VIRGINIA\n\nPRIOR SECURITY INTEREST ON PROPERTY LEVIED ON (\u00a7 8.01-480)\n\nTangible personal property subject to a prior security interest, or in which the\nexecution debtor has only an equitable interest, may nevertheless be levied on\nfor the satisfaction of a fieri facias. If the prior security interest is due\nand payable, the officer levying the fieri facias may sell the property free of\nsuch security interest, and apply the proceeds first to the payment of such\nsecurity interest, and the residue, so far as necessary, to the satisfaction of\nthe fieri facias. In the event the property is to be sold free of such prior\nsecurity interest, the judgment creditor shall give written notice by certified\nmail to each secured party of record as hereafter specified, as his name and\naddress shall appear on record, of the proposed sale, or to any secured party of\nwhom the judgment creditor shall have actual knowledge. Such notice shall be\ngiven to each secured party who is of record at the State Corporation\nCommission, at the Department of Motor Vehicles, at the Department of Game and\nInland Fisheries, or in the clerk’s office in the city or county in\nVirginia, where the debtor has resided to the knowledge of the judgment creditor\nat any time during a one-year period prior to the sale. Certification of such\nnotice shall be delivered to the sheriff or other officer conducting the sale\npursuant to execution of the judgment, who shall announce that except as to such\nperson so notified, the sale is subject to any prior security interest of\nrecord, other than one of record at a place where the debtor may have resided\nmore than one year previously. If such prior security interest is not due and\npayable at the time of sale, such officer shall sell the property levied on\nsubject to such security interest.\n\nHISTORY: Code 1950, \u00a7 8-413; 1977, c. 617; 1979, c. 491; 1990, c. 553."}