Special or Limited Power of Attorney for Real Estate Sales Transaction By Seller - Virginia 2025

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The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over.
A Virginia real estate power of attorney enables an individual to grant another party authority to handle real estate dealings such as buying, selling, managing, and refinancing on their behalf.
A power of attorney names someone to act on your behalf while youre incapacitated but still alive. A personal representative only assumes their duties after your death.
A Limited Power of Attorney (also called a Specific or Special Power of Attorney) allows the person who has the POA, the holder, to legally act on behalf of someone else, the principal, for a specific timeframe, scope or document.
Potential Disadvantages of Being a Power of Attorney If you breach your duty, you could owe the principal compensation for damages. The principal could sue you if you did not act in their best interest. A POA could be held responsible if they sign an agreement that could hold them financially liable.
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People also ask

When someone makes you the agent in their power of attorney, you cannot: Write a will for them, nor can you edit their current will. Take money directly from their bank accounts. Make decisions after the person you are representing dies. Give away your role as agent in the power of attorney.
A person with Power of Attorney for their parents cant actually add the POA to their bank accounts. However, they may change bank accounts to be jointly owned. There are some pros and cons of doing this, as discussed in the article POAs vs. joint ownership from NWI.com.

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