Va. Code Ann. § 6.2-872
This is the official text of Va. Code Ann. § 6.2-872, part of Virginia’s Code of Virginia — the complete compiled statutory law of Virginia, organized into 60+ numbered titles by subject.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
For what purpose banks may purchase, hold, and convey real estate
Official statutory text
A. In addition to the authority provided in § 6.2-873 , every bank incorporated under the laws of the Commonwealth may purchase, hold, and convey the following real estate for the purposes stated and for no other:
1. Real estate that is desirable and prudent for its present or future accommodation in the transaction of its business;
2. Real estate that is mortgaged or otherwise encumbered to it in good faith by way of security for debts contracted;
3. Real estate that is conveyed to it in satisfaction of debts previously contracted in the course of its dealings; and
4. Real estate it purchased at sales under judgments, decrees, mortgages, or deeds of trust held by it, in whole or in part, or purchased to secure debts due to it.
B. Nothing in this section shall affect the validity of the title to any such real estate conveyed or transferred by a bank.
Code 1950, § 6-50; 1966, c. 584, § 6.1-59; 1988, c. 296; 2010, c. 794 ; 2012, cc. 59 , 157 .
1. Real estate that is desirable and prudent for its present or future accommodation in the transaction of its business;
2. Real estate that is mortgaged or otherwise encumbered to it in good faith by way of security for debts contracted;
3. Real estate that is conveyed to it in satisfaction of debts previously contracted in the course of its dealings; and
4. Real estate it purchased at sales under judgments, decrees, mortgages, or deeds of trust held by it, in whole or in part, or purchased to secure debts due to it.
B. Nothing in this section shall affect the validity of the title to any such real estate conveyed or transferred by a bank.
Code 1950, § 6-50; 1966, c. 584, § 6.1-59; 1988, c. 296; 2010, c. 794 ; 2012, cc. 59 , 157 .
Status: in_force · Read it on the official government site
Need a lawyer in Virginia?
Find a Virginia lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.