Agency is a relationship based on an agreement authorizing one person, the agent, to act for another, the principal. For example an agent may negotiate and make contracts with third persons on behalf of the principal. Actions of an agent can obligate the principal to third persons. Actions of an agent may also give a principal rights against third persons.
An agency can be created for the purpose of doing almost any act the principal could do. However, there are some acts that must be done in person and cannot be done by an agent. Examples would be: testifying in court for another individual, making a will, and voting.
A general agent is authorized by the principal to transact all the affairs of a particular kind of business. For example, a person appointed as manager of a store is a general agent.
A special agent is authorized by the principal to handle a particular business transaction or perform a specific act. For example, a specific power of attorney appointing an agent (attorney-in-fact) to sell a particular piece of real estate or a certain car would be the appointment of a special agent.
A universal agent is authorized by the principal to do any act that can be delegated to a representative. An example would be giving a person a general power of attorney. This form is such a general power of attorney.
Fairfax Virginia General Power of Attorney is a legal document that grants an individual the authority to act as an agent or representative on behalf of another person, known as the principal, in various financial and legal matters. This document is specifically designed for residents of Fairfax, Virginia, and conforms to the laws and regulations of the state. A General Power of Attorney is a broad authorization, granting the agent the ability to make decisions regarding the principal's finances, property, and legal affairs. However, it is essential to clarify that a General Power of Attorney does not extend to healthcare decisions, as these require a separate document known as a Medical Power of Attorney or Advance Healthcare Directive. In Fairfax, Virginia, different types of General Power of Attorney include: 1. Limited Power of Attorney: This grants the agent specific authority to act on behalf of the principal for a limited duration or specific purpose. For example, a limited power of attorney may be created to handle the sale of a particular property or manage a specific financial transaction. 2. Durable Power of Attorney: A durable power of attorney remains in effect even if the principal becomes incapacitated or mentally incompetent. This type of power of attorney is particularly useful if the principal is concerned about potential future incapacity. 3. Springing Power of Attorney: A springing power of attorney becomes effective only when a specific event or condition is met, as determined by the principal. Usually, this condition is incapacitation or mental incompetence, and a designated person must provide evidence of the principal's incapacity to activate the document. 4. General Non-Durable Power of Attorney: Unlike a durable power of attorney, a general non-durable power of attorney ceases to be valid if the principal becomes incapacitated or mentally incompetent. This type of power of attorney is typically used for short-term transactions or when the principal wants to appoint an agent for a specific period. When creating a Fairfax Virginia General Power of Attorney, it is essential to consult with a qualified attorney to ensure compliance with local legal requirements and to customize the document based on individual circumstances. The attorney will provide guidance and help choose the most appropriate type of power of attorney based on the principal's needs and preferences.Fairfax Virginia General Power of Attorney is a legal document that grants an individual the authority to act as an agent or representative on behalf of another person, known as the principal, in various financial and legal matters. This document is specifically designed for residents of Fairfax, Virginia, and conforms to the laws and regulations of the state. A General Power of Attorney is a broad authorization, granting the agent the ability to make decisions regarding the principal's finances, property, and legal affairs. However, it is essential to clarify that a General Power of Attorney does not extend to healthcare decisions, as these require a separate document known as a Medical Power of Attorney or Advance Healthcare Directive. In Fairfax, Virginia, different types of General Power of Attorney include: 1. Limited Power of Attorney: This grants the agent specific authority to act on behalf of the principal for a limited duration or specific purpose. For example, a limited power of attorney may be created to handle the sale of a particular property or manage a specific financial transaction. 2. Durable Power of Attorney: A durable power of attorney remains in effect even if the principal becomes incapacitated or mentally incompetent. This type of power of attorney is particularly useful if the principal is concerned about potential future incapacity. 3. Springing Power of Attorney: A springing power of attorney becomes effective only when a specific event or condition is met, as determined by the principal. Usually, this condition is incapacitation or mental incompetence, and a designated person must provide evidence of the principal's incapacity to activate the document. 4. General Non-Durable Power of Attorney: Unlike a durable power of attorney, a general non-durable power of attorney ceases to be valid if the principal becomes incapacitated or mentally incompetent. This type of power of attorney is typically used for short-term transactions or when the principal wants to appoint an agent for a specific period. When creating a Fairfax Virginia General Power of Attorney, it is essential to consult with a qualified attorney to ensure compliance with local legal requirements and to customize the document based on individual circumstances. The attorney will provide guidance and help choose the most appropriate type of power of attorney based on the principal's needs and preferences.
