 Lawyer recommendations (by Steven [VA]) Nov 20, 2013 9:39 AM
 Lawyer recommendations (by V [OH]) Nov 20, 2013 11:32 AM
Lawyer recommendations (by Steven [VA]) Nov 20, 2013 6:34 PM
Lawyer recommendations (by V [OH]) Nov 20, 2013 7:27 PM
Lawyer recommendations (by BRAD 20,000 [IN]) Nov 21, 2013 7:21 AM
Lawyer recommendations (by Steven [VA]) Nov 21, 2013 9:35 AM
Lawyer recommendations (by Steven [VA]) Posted on: Nov 20, 2013 9:39 AM
Message:
State Specific Question About: VIRGINIA (VA)
I am looking at hiring a lawyer to help open an escrow account on my behalf to hold my tenants security deposit. Anyone have any suggestions of lawyers they have used or suggestions about how I pick one? --129.82.xx.xxx |
Lawyer recommendations (by V [OH]) Posted on: Nov 20, 2013 11:32 AM
Message:
Why not use a local bank, it sits there until moveout, here in OH it is illegal to use before then. --75.94.xxx.xxx |
Lawyer recommendations (by Steven [VA]) Posted on: Nov 20, 2013 6:34 PM
Message:
I do not live in VA and so need to have a lawyer draft a POA and then open the escrow account on my behalf. --38.89.x.xxx |
Lawyer recommendations (by V [OH]) Posted on: Nov 20, 2013 7:27 PM
Message:
Do you know you will need one? Are you closeby that you could come in and out to handle the other matters? If you are beginning as a distance landlord you will need an eviction service you can trust, asking them would seem correct. --75.94.xxx.xxx |
Lawyer recommendations (by BRAD 20,000 [IN]) Posted on: Nov 21, 2013 7:21 AM
Message:
Steven,
I don't know VA law.
I'd wondering if you need to go to this much effort. Have you researched the actual requirements?
If VA requires you hold their funds in a separate account would a normal checking or savings qualify?
Must it be a VA bank?
If you bank with a large multi-state bank with a VA presence (maybe Chase?), could you simply open another account with them?
Hopefully some VA LLs will respond.
--67.175.xx.xxx |
Lawyer recommendations (by Steven [VA]) Posted on: Nov 21, 2013 9:35 AM
Message:
Unfortunately, I live many hundreds of miles away, and would need to make a special trip to VA. I have had a property manager for the last 2 years, but am unhappy with their service, and feel given the experience that I have obtained that I can successfully manage it long distant. My intention is to have a local property manager company on standby for showing the property and handling any issues that require a physical presence. The law firm that I am looking at hiring for the escrow account, would be under a trial to see if I want to keep them on hand to sort out legal matters as they appear.
The VA requirements state that it needs to be an FDIC insured VA escrow account to hold the money in. I looked into a multi-state bank, but I do not think it qualifies being opened in another state for the FDIC VA requirement. However, if anyone has any information on whether this would be ok, it certainly would be less hassle!
--129.82.xx.xx |
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