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The Virginia Real Estate Power of Attorney performs the task of legally assigning choice powers associated with a person’s real property to a third party. In cases where a real estate owner is not physically available to execute paperwork, the provided document allows another individual the right to make decisions and sign on their behalf. Several selections can be made within the contract format to allocate the controls as needed by the declarant. Notation can be made to designate which properties will be covered in the transfer of permissions, as well as the stipulated functions that will be allowed to the appointed attorney-in-fact. Actions that can be adjusted to authorize the designated agent authorization to purchase, sell, manage, and refinance at the principal’s discretion.

Laws

Statutes – Uniform Power of Attorney Act (C.O.V § 64.2-1600 – § 64.2-1642)

Definition – “Property” means anything that may be the subject of ownership, whether real or personal, or legal or equitable, or any interest or right therein (§ 64.2-1600).

Signing Requirements – The state of Virginia mandates that all power of attorney documents be corroborated by a certified notary official to meet the threshold for legal standing (§ 64.2-1603).