  CCD photometry of the type Ia SN 2001V occured in the edge-on spiral galaxy
NGC 3987 is presented. The observations made through Johnson-Cousins BVRI
filters were collected from Feb. 24 (t = -8 days, with respect to B-maximum),
up to May 5 (t = +62 days). The light curves are analyzed with the revised
Multi-Colour Light Curve Shape (MLCS) method by fitting template vectors to the
observed light curves simultaneously. The reddening of SN 2001V is estimated to
be E(B-V)=0.05 mag, while the galactic component is E(B-V) = 0.02 mag,
suggesting that part of the reddening may be due to the ISM in the host galaxy.
The Delta parameter in MLCS converged to -0.47 mag, indicating that this SN was
overluminous relative to the majority of Type Ia SNe. The inferred distance to
its host galaxy, NGC 3987, is 74.5 \pm 5 Mpc, which is in good agreement with
recently determined kinematic distances, based on radial velocity corrected for
Virgo-infall and Hubble constant H_0 = 65 km/s/Mpc.
