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Glossary: Probate, Trust & Inherited Property Terms in Virginia

Glossary: Probate, Trust & Inherited Property Terms in Virginia

A plain-language reference for Northern Virginia families dealing with inherited homes. Updated April 29, 2026.

Quick Answer: If you’ve inherited a home in Northern Virginia and you’re hearing terms like “successor trustee,” “Certificate of Qualification,” “stepped-up basis,” “Commissioner of Accounts,” or “partition action,” this glossary explains what each one means in plain language and points you to the relevant section of Virginia law (Title 64.2 of the Code of Virginia, the Internal Revenue Code, etc.) where applicable. Use this page as a reference while you work through your situation; for help with the actual sale, call David Mount at (571) 946-8418.

Inherited property situations come with a vocabulary that most families have never had to learn. Probate, trusts, fiduciary duties, federal tax treatment, and Virginia-specific procedures all carry their own terminology. This glossary defines the 24 terms that come up most often in Northern Virginia inherited home sales. Each entry is plain-language with statutory references where applicable.

Beneficiary
A person named in a trust to receive trust assets or income. Distinct from an heir (who inherits under intestate succession) or a devisee (who takes under a will).
Certificate of Qualification
The court-issued document confirming a personal representative’s authority to act for an estate. Sometimes called Letters Testamentary (when there’s a will) or Letters of Administration (when there isn’t). Issued by the Circuit Court Clerk’s Office at qualification.
Certification of Trust
A short notarized document confirming a trustee’s authority, used in lieu of disclosing the full trust document. Authorized in Virginia by Va. Code §64.2-804. Title companies use it instead of demanding the full trust, which protects the family’s privacy.
Commissioner of Accounts
The court-appointed official who reviews inventories and accountings filed by personal representatives and trustees. Each Virginia jurisdiction (Fairfax, Loudoun, Arlington, Prince William, Alexandria, Falls Church) has its own Commissioner of Accounts, separate from the Circuit Court Clerk.
Decedent
The deceased person whose estate is being administered.
Devisee
A person who takes real property under a will. Distinct from a “legatee,” who takes personal property under a will, and from an “heir,” who inherits under intestacy.
Estate
The collection of assets left by a deceased person, administered through probate (if there’s no trust) or by a trust (if assets were retitled into a trust during life).
Executor
The person named in a will to administer the estate. Once qualified by the court, called the personal representative. If there’s no will, the equivalent role is called administrator.
Fiduciary
A person legally bound to act in another’s best interests. Personal representatives and trustees are fiduciaries. Fiduciary duties include loyalty, impartiality, prudence, and disclosure.
Grantor (or Settlor)
The person who creates a trust and transfers assets into it. In a typical Northern Virginia revocable living trust, the grantor is also the trustee during life, with the successor trustee taking over at the grantor’s death.
Heir
A person who inherits under intestate succession (when there is no will). Distinct from a beneficiary (named in a trust) or devisee (named in a will).
Inventory
A formal listing of probate assets and their date-of-death values, filed by the personal representative with the Commissioner of Accounts within 4 months of qualification (Va. Code §64.2-1300).
Intestate
Dying without a will. The estate is distributed under Virginia’s intestacy statutes (Va. Code §64.2-200 et seq.), which determine which family members inherit and in what shares.
Letters Testamentary
The certificate of qualification issued when there is a will. Authorizes the named executor to act for the estate.
Letters of Administration
The certificate of qualification issued when there is no will. Authorizes the court-appointed administrator to act for the estate.
Personal Representative (PR)
The umbrella term for executor (with a will) or administrator (without). The person legally authorized by the Circuit Court to act for an estate. Also referred to as the fiduciary.
Probate
The court-supervised process of administering an estate when assets are not held in a trust, joint tenancy, or under a transfer-on-death deed. Virginia probate is administered through the Circuit Court Clerk’s Office in the county where the deceased resided.
Revocable Living Trust
A trust created during the grantor’s lifetime that can be modified or revoked by the grantor at any time. The most common trust type used by Northern Virginia families to avoid probate. Assets held in a revocable trust pass to beneficiaries at death without going through probate court.
Stepped-Up Basis
For federal capital-gains purposes, the cost basis of inherited property resets to fair market value at the date of death (IRC §1014). Erases the deceased’s lifetime appreciation for tax purposes. Applies to property inherited through probate, through a revocable trust, or via a transfer-on-death deed. Does not always apply to irrevocable trusts — consult a CPA.
Successor Trustee
The person named in a trust to take over management when the original trustee dies or becomes incapacitated. Authority derives from the trust document and Va. Code §64.2-778. Legal title to trust assets vests automatically in the successor trustee at the prior trustee’s death — no court order required.
Tenants in Common
A form of joint ownership where each owner has a separate, transferable interest in the property. Common when multiple heirs receive a home through intestate succession or distribution. All co-owners must sign to sell.
Tenants by the Entirety
A form of joint ownership exclusive to married couples in Virginia. When one spouse dies, the survivor takes title automatically without probate. Provides creditor protection during life that other forms of joint ownership do not.
Transfer-on-Death (TOD) Deed
A deed that names a beneficiary to take title to real property automatically at the owner’s death, without going through probate. Authorized in Virginia since 2013 (Va. Code §64.2-621 et seq.). Must be recorded in the county land records before the owner’s death to be effective.
Trust
A legal arrangement where one party (the trustee) holds and manages property for the benefit of another (the beneficiary). Virginia trusts are governed primarily by the Uniform Trust Code in Va. Code Title 64.2, Chapter 7.

Related Statutory References

  • Va. Code §64.2-105: Powers of fiduciaries (statutory grant)
  • Va. Code §64.2-200 et seq.: Course of descents (Virginia intestacy laws)
  • Va. Code §64.2-500 et seq.: Appointment and qualification of personal representatives
  • Va. Code §64.2-521: Personal representatives to sell real estate devised to be sold
  • Va. Code §64.2-621 et seq.: Uniform Real Property Transfer on Death Act (Virginia)
  • Va. Code §64.2-778: Specific powers of trustee
  • Va. Code §64.2-804: Certification of Trust
  • Va. Code §64.2-1300 et seq.: Inventories
  • Va. Code §64.2-1206 et seq.: Annual accountings
  • Va. Code §58.1-1712: Probate tax ($0.10 per $100 of estate value)
  • Va. Code §8.01-81 et seq.: Partition of real estate
  • IRC §1014: Federal stepped-up basis for inherited property

David Mount, REALTOR and COO, The Redux Group of eXp Realty

About David Mount, REALTOR® & COO

The Redux Group of eXp Realty | Fairfax, VA | Serving Fairfax, Loudoun, Arlington, Prince William, Alexandria & Falls Church

David grew up in Burke, Virginia and graduated from Lake Braddock Secondary School. He has 12+ years of full-time experience and 200+ transactions in Northern Virginia residential seller representation, with a particular focus on life-transition sales — inherited property, divorce, downsizing, military relocation, and out-of-state moves — and is well-versed in the procedures that govern Virginia probate and trust-held home sales under Title 64.2 of the Code of Virginia.

Credentials & recognition: NVAR Platinum Top Producer (2024) · 95+ five-star verified client reviews · FastExpert 5-Star Agent · Zillow Premier Agent · COO of The Redux Group, eXp Realty’s largest team in Northern Virginia.

Contact David: (571) 946-8418 · david.mount@thereduxgroup.com

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