With this limited power of attorney, you can give your agent the power to act on your behalf in a particular real estate transaction. This will last until the termination date specified in the document, whether or not the real estate transaction has been completed or not. It does not give your agent any powers beyond those relating to the real estate transaction you have selected. This power of attorney is for use in Virginia.
This is not a durable power of attorney and it will cease to be effective when the grantor becomes incapacitated. Keep in mind that certain institutions, such as banks, may have specific requirements for accepting a power of attorney.
This template includes the following paragraphs, among others:
- Governing Laws
- Delegation of Authority
- Liability of Attorney-in-Fact
- Powers of Attorney-in-Fact
- Attorney-in-Fact Compensation
- Co-Owning of Assets and Mixing of Funds
- Personal Gain from Managing My Affairs
- Attorney-in-Fact Restrictions and Liability
- Provision of Accounting