The Real Estate Power of Attorney is a convenient option for those who need the assistance of another to carry out a transaction involving real property. This could include assigning someone to perform a purchase or sale on your behalf, managing a particular property, or refinancing a mortgage. If the ability to do this is of interest, the principal party should fill in the form with the corresponding info and sign it along with the “attorney-in-fact” (the appointee). Most states require this type of agreement to be endorsed while under the supervision of two (2) witnesses and/or a notarial figure as proof that the parties were present and coherent at the time of signing.
Signing Requirements – Many states have different acknowledgment mandates concerning the execution of POA documents. Review the statutes and specific endorsement obligations unique to your state provided in the Signing Requirements and POA Laws list.
A power of attorney agreement essentially conveys authorized rights from one person to another within a written register. This specific POA is designed to cover distributed controls relating to a particular piece of real estate. The issuing party, recognized as the “principal” or “declarant“, can utilize the contract to pass selected inherent rights as the property owner to a designated person. The receiving individual is referred to as the “agent” or “attorney-in-fact” and is granted consent to act on behalf of the principal regarding the chosen property. Upon signing the commitment, the agent will then be able to perform assigned tasks related to the property in the owner’s absence.
The allocation of approved controls can be extended in a limited or broad manner depending on how the declarant fills out the form. The arrangement can be beneficial when the property owner cannot be present at closing and wishes to appoint an agent to finalize the real estate transaction.
When granting powers of attorney for real estate, the first factor to consider is which permissions will be necessary to issue. Bestowed rights can be delegated to cover a wide range of privileges or on a singular basis to meet the property owner’s needs. Transactions requiring another to sign on behalf of the principal at the closing of a real estate sale may necessitate the sole distribution of selling powers to the elected agent. Conditions that call for a more comprehensive scope of agency to be established can be confirmed by signifying authorization to cover purchase, sale, management, and mortgage of real estate in the absence of the property holder.
There are several variations of this contract type to consider when employing the use of the agreement. Incorporation of a “durability” clause can be utilized if the declarant desires for the allotted controls to remain in place even in the event of the principal’s possible incapacitation. If a designated expiry date for the arrangement is desired, an indicated start and end date can be recorded within the document. A supplemental clause can also be implemented to clarify the intended course of action for revocation at either participants’ request.
The authorized powers that are passed to the nominated agent can prove to have far-reaching ramifications. The receiving party will essentially be permitted decision-making authority for many of the aspects of the designated property. Therefore, it is vital to assign agency controls to a trusted individual to safeguard your asset(s) appropriately. Select a reliable candidate that can perform the required duties and make intelligent decisions that benefit your best interest.
Once the agreement’s specifics have been narrowed down, the form can be drafted according to the predetermined options. The document can be downloaded, printed, or completed on this website using the Fill Now tool. Insert the designated selections to the appropriate spaces and review the paperwork to ensure it is assembled correctly. Review your state’s Signing Requirements made available in the table below before endorsing the agreement. Sign as directed per your corresponding state’s statute, and make sure to provide the designated agent with a copy of the executed arrangement. The principal should secure the original filing for reference purposes.
STATE | SIGNING REQUIRMENTS | POWER OF ATTORNEY LAWS |
---|---|---|
Alabama | Notary Public | Code of Alabama – Title 26, Chapter 1A (Alabama Uniform Power of Attorney Act) |
Alaska | Notary Public | Alaska Statutes – Title 13, Chapter 26 – Protection of Minors and Incapacitated Persons and Their Property; Powers of Attorney |
Arizona | Notary Public and One (1) Subscribing Witness | Arizona Revised Statutes – Title 14, Chapter 5, Article 5: Powers of Attorney |
Arkansas | Notary Public | Arkansas Code – Title 28, Subtitle 5, Chapter 68 – Uniform Power of Attorney Act |
California | Notary Public or Two (2) Subscribing Witnesses | California Probate Code: Division 4.5. Powers of Attorney (§ 4000 – 4545) |
Colorado | Notary Public | Colorado Uniform Power of Attorney Act (§ 15-14-7) |
Connecticut | Notary Public or Two (2) Subscribing Witnesses | Chapter 15c: Connecticut Uniform Power of Attorney Act |
Delaware | Notary Public and One (1) Subscribing Witness | Title 12, Chapter 49A: Durable Personal Powers of Attorney Act |
Florida | Notary Public or Two (2) Subscribing Witnesses | Chapter 709: Powers of Attorney and Similar Instruments |
Georgia | Notary Public and One (1) Subscribing Witness | Georgia Power of Attorney Act (O.C.G.A. § 10-6B-1) |
Hawaii | Notary Public | Chapter 551E: Uniform Power of Attorney Act |
Idaho | Notary Public | Title 15, Chapter 12: Uniform Power of Attorney Act |
Illinois | Notary Public and One (1) Subscribing Witness | Illinois Power of Attorney Act (755 ILCS 45) |
Indiana | Notary Public | Title 30, Article 5: Powers of Attorney (§ 30-5) |
Iowa | Notary Public | Powers of Attorney (Chapter 633B) |
Kansas | Notary Public | Chapter 58, Article 6: Powers and Letters of Attorney |
Kentucky | Notary Public | Kentucky Uniform Power of Attorney Act (Chapter 457) |
Louisiana | Notary Public or Two (2) Subscribing Witnesses | Louisiana Civil Code – Chapter 2. Mandate |
Maine | Notary Public | Title 18-C, Article 5, Part 9: Maine Uniform Power of Attorney Act |
Maryland | Notary Public and Two (2) Subscribing Witnesses | Maryland Power of Attorney Act (§ 17-101 – § 17-204) |
Massachusetts | Notary Public | Chapter 190B, Article V: Sections 5-501 – 5-507 |
Michigan | Notary Public or Two (2) Subscribing Witnesses | Durable Power of Attorney: Sections 700-5501 – 700-5505 |
Minnesota | Notary Public | Chapter 523: Powers of Attorney |
Mississippi | Notary Public | Mississippi Uniform Durable Power of Attorney Act (§ 87-3-101 – § 87-3-113) |
Missouri | Notary Public or Two (2) Subscribing Witnesses | Durable Power of Attorney Law of Missouri (§ 404.700 – § 404.737) |
Montana | Notary Public | Montana Uniform Power of Attorney Act (§ 72-31-301 – 72-31-367) |
Nebraska | Notary Public | Nebraska Revised Statutes – Uniform Power of Attorney Act (§ 30-4041 – 30-4045) |
Nevada | Notary Public | Nevada Revised Statutes – Power of Attorney (Uniform Act) (§ 162A.010 – 162A.660) |
New Hampshire | Notary Public | New Hampshire Statutes – Uniform Power of Attorney Act (§ 564-E:101 – 564-E:403) |
New Jersey | Notary Public | New Jersey Revised Statutes – Revised Durable Power of Attorney Act (§ 46-2B-8.1 – 46-2B-19) |
New Mexico | Notary Public | New Mexico Statutes – Uniform Power of Attorney Act (§ 45-5B-101 – 45-5B-403) |
New York | Notary Public and Two (2) Subscribing Witnesses | Consolidated Laws of New York – Chapter 24A – Article 5 – Statutory Short Form and Other Powers of Attorney For Financial and Estate Planning (§ 5-1501 – 5-1514) |
North Carolina | Notary Public | North Carolina General Statutes – Chapter 32C – Uniform Power of Attorney Act (§ 32C-1-101 – 32C-4-403) |
North Dakota | Soley Requires Signature of Principal; Corroboration from Notary Public Recommended | North Dakota Century Code Title 30, Chapter 30.1-30 – Uniform Durable Power of Attorney Act (§ 30.1-30-01 – 30.1-30-06) |
Ohio | Notary Public | Ohio Revised Code Chapter 1337: Power of Attorney (§ 1337.01 – 1337.64) |
Oklahoma | Notary Public | Oklahoma Statutes Citationized Title 58 Chapter 29 – Uniform Power of Attorney Act (58 O.S. § 3001 – 3045) |
Oregon | Soley Requires Signature of Principal; Corroboration from Notary Public Recommended | Oregon Revised Statutes Title 13, Chapter 127 – Powers of Attorney (127.002 – 127.045) |
Pennsylvania | Notary Public and Two (2) Subscribing Witnesses | Pennsylvania Statutes Title 20, Chapter 56 – Powers of Attorney |
Rhode Island | Notary Public | Rhode Island Short Form Power of Attorney Act (§ 18-16) |
South Carolina | Notary Public and Two (2) Subscribing Witnesses | South Carolina Uniform Power of Attorney Act (§ 62-8) |
South Dakota | Notary Public | South Dakota Uniform Power of Attorney Act (§ 59-12-1 – § 59-12-43) |
Tennessee | Notary Public or Two (2) Subscribing Witnesses | Tennessee Code Annotated Chapter 6: Power of Attorney (§ 34-6) |
Texas | Notary Public | Texas Statutes – Title 2, Chapter 751: Durable Power of Attorney Act |
Utah | Notary Public | Utah Code – Uniform Power of Attorney Act (§ 75-9) |
Vermont | Notary Public and One (1) Subscribing Witness | Vermont Statutes – Chapter 123: Powers of Attorney (14 V.S.A. § 3501 – 14 V.S.A. § 3516) |
Virginia | Notary Public | Virginia Uniform Power of Attorney Act (C.O.V § 64.2-1600 – § 64.2-1642) |
Washington | Notary Public or Two (2) Subscribing Witnesses | Revised Code of Washington – Uniform Power of Attorney Act ( § 11-125-010 – § 11-125-903) |
West Virginia | Notary Public | West Virginia Code – Uniform Power of Attorney Act (§ 39B-1-101 – § 39B-4-103) |
Wisconsin | Notary Public | Wisconsin Statutes – Uniform Power of Attorney for Finances and Property (§ 244-01 – 244-64) |
Wyoming | Notary Public | Wyoming Statutes – Uniform Power of Attorney Act (§ 3-9-101 – 3-9-403) |
After a power of attorney has served its purpose, and the instated controls are no longer needed in the eyes of the issuing principal, cancelation of the arrangement can be invoked. Alternatively, scenarios may arise where the attorney-in-fact wishes to withdraw from the commitment, wherein communication of the request can be asserted to the declaring party to start the process. Depending on the specific provisions and contract type, revocation can be brought about in a number of ways.
The terms to the majority of POAs typically expire upon the death of the issuing declarant, effectively reversing the bestowed authority. Although durable POAs will endure past the point of the principal’s incapacity, they too can be dissolved at the behest of either party.
Contracts containing stipulated revocation clauses may cover the proposed protocol for the annulment of agreement. In cases where the specific revocation procedure is not mentioned in the POA document, the principal can seek to void by executing a Revocation of Power of Attorney Form. Completion and execution of the Revocation POA will terminate the previous accord. It is advised that the principal retain the original revocation paperwork and provide a copy of the installment to the named agent.