Allen v. Chapman

In three appeals consolidated for review, we consider whether a junior lienor is a party in interest for purposes of Code § 8.01-242, which prescribes a statute of limitations for certain deeds of trust.

On July 11, 1969, Billy Ray Chapman and his wife, Bernadette B. Chapman, sold certain property located on Little Creek Road in Norfolk to Charles Marvin Chapman, Jr. and Margaret M. Chapman. Charles and Margaret Chapman executed a note secured by a deed of trust dated July 11, 1969, for $90,000 payable on demand. The deed of trust, which did not have a maturity date, was properly recorded…