§ 31-14.1. Powers of guardian
A. Whether appointed by a parent, the court or clerk, a guardian of a minor's estate shall have the following powers and the powers set forth in § 64.1-57 as of the date the guardian acts which, subject to the provisions of subsection B, may be exercised without any prior authorization:
1. To ratify or reject a contract entered into by the minor;
2. To pay any sum distributable for the benefit of the ward by paying the sum directly to the ward, to the provider of goods and services, to any individual or facility that is responsible for or has assumed responsibility for care and custody, or to a ward's custodian under a Uniform Transfers (or Gifts) to Minors Act of any applicable jurisdiction;
3. To maintain life, health, casualty and liability insurance for the benefit of the ward;
4. To manage the estate following the termination of the guardianship until its delivery to the ward or successors in interest;
5. To execute and deliver all instruments, and to take all other actions that will serve in the best interests of the ward;
6. To initiate a proceeding to seek a divorce, or to make an augmented estate election under § 64.1-13; and
7. To borrow money for such periods of time and upon such terms and conditions as to rates, maturities, renewals and security as the guardian deems advisable, including the power to borrow from the guardian, if the guardian is a bank, for any purpose; to mortgage or pledge such portion of the ward's personal estate, and real estate subject to subsection B, as may be required to secure such loan or loans; and, as maker or endorser, to renew existing loans.
B. The court or the commissioner of accounts, if a guardian is appointed other than by the court, may impose requirements to be satisfied by the guardian prior to the conveyance of any interest in real estate, including but not limited to (i) increasing the amount of the guardian's bond, (ii) securing an appraisal of the real estate or interest, (iii) giving notice to interested parties as the court or commissioner deems proper, and (iv) consulting by the guardian with the commissioner of accounts.
1. If the court or commissioner imposes any such requirements, the guardian shall make a report of his compliance with each requirement, to be filed with the commissioner of accounts. Promptly following receipt of the guardian's report, the commissioner shall file a report with the court stating whether the requirements imposed have been met and whether the conveyance is otherwise consistent with the guardian's duties. The conveyance shall not be closed until a report by the commissioner of accounts is filed with the court and confirmed as provided in §§ 26-33, 26-34 and 26-35.
2. If the commissioner does not impose any such requirements, he shall, upon request of the guardian of the minor, issue a notarized statement providing that "The Commissioner of Accounts has declined to impose any requirements upon the power of (name of guardian), Guardian of (name of minor), to convey the following real estate of the minor: (property identification)." The conveyance shall not be closed until the guardian has furnished such a statement to the proposed grantee.
C. Any guardian may at any time irrevocably disclaim the right to exercise any of the powers conferred by this section by filing a suitable written disclaimer with the clerk of the court wherein his accounts may be settled. Such disclaimer shall relate back to the time when the guardian assumed the guardianship and shall be binding upon any successor guardian.
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Last modified: April 16, 2009