A Virginia real estate power of attorney is a legal document enabling a principal to appoint an agent (the “attorney-in-fact”) to manage their real estate affairs. Depending on what the principal allows, the agent might be able to perform property repairs, refinance the property owner’s debts, negotiate rent with tenants, and complete other property-related tasks.
The principal chooses whether to make the form durable or nondurable. If they make it durable, it continues to remain effective even upon their incapacitation. However, the principal retains control and can revoke the powers they grant at any point as long as they’re mentally competent. Please note that this POA shouldn’t conflict with other active legal arrangements.
Legal Considerations
Statute: Code of VA Title 64.2, Chapter 16.
Signing Requirements: Notary public (ยง 64.2-1625).
