Virginia Code 64.2-520.2: Reliance on certificate of qualification of a personal representative.
A. Any individual or entity conducting business in good faith with a personal representative who presents a currently effective certificate of qualification may presume that the personal representative is properly authorized to act as to any matter or transaction. A person that refuses in violation of this section to accept a certificate of qualification is subject to (i) a court order mandating acceptance of the certificate of qualification and (ii) liability for reasonable attorney fees and costs incurred in any action or proceeding that confirms the validity of the certificate of qualification or mandates acceptance of the certificate of qualification.
Terms Used In Virginia Code 64.2-520.2
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
- Personal representative: includes the executor under a will or the administrator of the estate of a decedent, the administrator of such estate with the will annexed, the administrator of such estate unadministered by a former representative, whether there is a will or not, any person who is under the order of a circuit court to take into his possession the estate of a decedent for administration, and every other curator of a decedent's estate, for or against whom suits may be brought for causes of action that accrued to or against the decedent. See Virginia Code 64.2-100
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
B. A person shall either accept or reject a certificate of qualification no later than seven business days after presentation of such certificate of qualification for acceptance. A person is not required to accept a certificate of qualification for a transaction if:
1. Engaging in the transaction with the personal representative would be inconsistent with state or federal law;
2. The person has actual knowledge of the termination of the personal representative’s authority or of the certificate of qualification before exercise of the power;
3. The person in good faith believes that the certificate of qualification is not valid or that the personal representative does not have the authority to perform the act requested; or
4. The person believes in good faith that the transaction may involve, facilitate, result in, or contribute to financial exploitation.
2020, c. 702.