The Virginia real estate power of attorney, once signed by an agent and the principal, provides the former party with the ability to represent the latter in the transfer and maintenance of real property in the State of Virginia. The powers granted unto the agent can include signing and executing instruments on the principal’s behalf to close a sale, maintaining a homeowner’s property including repairs and rent negotiations, and refinancing the principal’s debts. The principal will have the ability, within the terms of the agreement, to determine the length of the term and the cause for termination. Once signed by both parties the agreement will be legally in effect.
Laws – § 64.2-1625
Signing Requirements – Notary Public (§ 75-9-105)
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