Jones v. Phillips

Holding

In this appeal, we address two questions of first impression in Virginia. The first is whether an insurer’s payments on a fire insurance policy were immune from garnishment as “proceeds of the sale or disposition” of property held in trust under former Code § 55-20.2(C), recently recodified as Code § 55.1-136(C). The second is whether the contractual right under the insurance policy to receive fire-loss payments was intangible personal property held by the named insured and his wife as a tenancy by the entirety.

Reversing the circuit court, we answer both questions in the negative.