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.
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.
Structure Code of Virginia
Title 64.2 - Wills, Trusts, and Fiduciaries
Chapter 5 - Personal Representatives and Administration of Estates
§ 64.2-500. Grant of administration with the will annexed
§ 64.2-501. Oath of executor or administrator with the will annexed
§ 64.2-502. Grant of administration of intestate estate
§ 64.2-503. Oath and bond of administrator of intestate estate
§ 64.2-504. Bond of executor or administrator
§ 64.2-505. When security not required
§ 64.2-506. When letters of administration and order for obtaining probate in due form are required
§ 64.2-507. Clerks to deliver statement of responsibilities
§ 64.2-510. Affidavit relating to real estate of intestate decedent
§ 64.2-511. Powers of executor before qualification
§ 64.2-513. Effect of death, resignation, or removal of sole executor
§ 64.2-514. Duty of every personal representative
§ 64.2-515. Duty of fiduciaries as to joint accounts
§ 64.2-516. Duties of fiduciaries as to certain obligations of the United States
§ 64.2-518. When personal representative may renew obligation of decedent
§ 64.2-520.1. Action for damages from legal malpractice concerning estate planning
§ 64.2-520.2. Reliance on certificate of qualification of a personal representative
§ 64.2-522. Personal representatives to pay over sale proceeds and rents to persons entitled
§ 64.2-523. Personal representative may execute deed pursuant to written contract of decedent
§ 64.2-524. Validation of certain conveyances by foreign executor
§ 64.2-525. Debtor's appointment as executor
§ 64.2-526. What personal estate to be sold; use of proceeds
§ 64.2-527. Estate held for another's life; inclusion in personal estate
§ 64.2-528. Order in which debts and demands of decedents to be paid
§ 64.2-530. Lien acquired during lifetime of decedent not affected
§ 64.2-531. Nonexoneration; payment of lien if granted by agent
§ 64.2-532. Real estate of decedent as assets for payment of debts
§ 64.2-533. Administration of assets for payment of debts
§ 64.2-537. Action to enforce claim of less than $100; notice
§ 64.2-538. Lien acquired during lifetime of decedent not affected
§ 64.2-540. Apportionment required
§ 64.2-541. Recovery by executor when part of estate not in his possession
§ 64.2-542. Transfers not required until tax ascertained or security given
§ 64.2-543. Contrary provisions of will or other instrument to govern
§ 64.2-544. Construction of direction to pay all taxes imposed on account of testator's death
§ 64.2-545. Transfer of assets to administrator de bonis non; administration of assets
§ 64.2-546. Action against representative of executor for waste
§ 64.2-547. Revival of judgment by administrator de bonis non
§ 64.2-548. Action against surety of personal representative; procedure
§ 64.2-549. Liability of personal representative or his surety
§ 64.2-550. Proceedings for receiving proof of debts by commissioners of accounts
§ 64.2-551. Account of debts by commissioners of accounts
§ 64.2-552. How claims filed before commissioners of accounts; tolling of limitations period
§ 64.2-553. When court to order payment of debts
§ 64.2-554. When distribution may be required; refunding bond
§ 64.2-555. When fiduciaries are protected by refunding bonds
§ 64.2-557. Form for notice to show cause under § 64.2-556
§ 64.2-558. Distribution to persons standing in loco parentis to certain beneficiaries