This form is a durable power of attorney. The form provides that the agent of the principal is only authorized to use the principal's funds for the best interest of the principal. If the agent fails to comply with principal's instructions, the agent then may be liable for criminal charges or civil liability.
Power Attorney To Sell Property
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How to fill out Arizona Durable Power Of Attorney?
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FAQ
A. A power of attorney executed in the Commonwealth on or after July 1, 2010, is valid if its execution complies with § 64.2-1603. B. A power of attorney executed in the Commonwealth before July 1, 2010, is valid if its execution complied with the law of the Commonwealth as it existed at the time of execution.
If the power of attorney is durable and might be used to handle real estate transactions, it should also be recorded with the circuit court in the county where the property is located.
File a Copy With the Land Records Office If you gave your agent the power to conduct real estate transactions, you should also file a copy of your POA in the land records office (a division of the circuit court clerk's office in Virginia) in the county where you own real estate.
The specific requirements are different in each state; however, in Virginia, your document will need the signature of a notary. If your agent(s) will have the authority to engage in real estate transactions, the Power of Attorney must be notarized and recorded or filed with the county.
It allows you to give someone the authority to buy or sell real estate for you, or to conduct any other business concerning real estate that you own. The person you name to represent you is called your "attorney-in-fact." Any trusted person with common sense can do the job.