§ 3502 - Creation of a power of attorney - Vermont Statutes

§ 3502. Creation of a power of attorney

(a) Except as provided in subsections (d) and (e) of this section, a power of attorney shall, in order to be valid:

(1) be in writing;

(2) name one or more persons as agent;

(3) give the agent power to act on behalf of the principal; and

(4) be executed as provided in section 3503 of this title.

(b) Except as provided in subsection (c) of this section, a power of attorney shall be effective on the date the power of attorney is executed as provided in section 3503 of this title.

(c) A power of attorney may:

(1) specify the date on which the power of attorney will become effective; or

(2) become effective upon the occurrence of an event, which shall be specified in the power of attorney, as shall the manner in which the event shall be determined to have occurred.

(d) Subsection 3503(e) of this title, and the provision in subsection 3503(a) of this title that requires the witness and the notary to be different persons, shall not be applicable to:

(1) a power of attorney for the sale, transfer or mortgage of real estate executed in conformance with section 305 of Title 27, provided the real estate is specifically identified in the power of attorney and the duration of the power of attorney is no more than 90 days; or

(2) a power of attorney for a commercial transaction, provided the transaction is specifically described in the power of attorney and the duration of the power of attorney is no more than 90 days.

(e) Notwithstanding any other provision of law, a military power of attorney containing a provision stating that the power of attorney is prepared pursuant to 10 U.S.C. § 1044b shall be deemed to be legally executed and shall be of the same force and effect as if executed in the mode prescribed by the laws of this state. (Added 2001, No. 135 (Adj. Sess.), § 2, eff. June 13, 2002; amended 2005, No. 7, § 2, eff. April 21, 2005.)