Real Estate Power Of Attorney Form PDF

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Real Estate Power Of Attorney

A real estate power of attorney is used to grant a person the authority to handle tasks or decisions regarding real property for another individual.

It is a type of limited form that gives the agent (or “attorney-in-fact”) specific powers that can exist indefinitely, or until the tasks are complete.

If the principal decides that the form will be non-durable, the agent’s powers end in the event the principal suffers a medical emergency that renders them incapacitated.

What Can it Be Used For?

As an overview, one can use the document to do the following regarding real property:

Manage/request repairs/hire labour;

Sell / exchange / convey / quitclaim;

Purchase/buy / lease / receive;

Mortgage;

Insure;

Pay taxes; and Much more.

What is Real Estate Power of Attorney?

A real estate power of attorney is a document that allows someone else to handle property decisions on their behalf. 

This includes selling, buying, leasing, and managing property for the principal’s best interest.

After the form is completed and signed, it is can be used immediately.

Agent

The agent can be any person selected by the principal. They do not have to be a property manager or an attorney.

How to Use a Real Estate POA

Step 1 – Determine the Powers + Term

The principal can structure the form to provide the agent with whatever powers they feel are necessary.

Whatever the principal chooses, they should make sure the powers are detailed clearly on the form, leaving nothing to assume.

Because the POA type is non-durable, it will automatically terminate should the principal become mentally incapable of making decisions or in the event of their death.

However, the principal should specify whether or not the agent’s powers extend in perpetuity or are limited to a single task or period of time.

In other words, if the agent will be assisting with the one-time sale of a property, the form should state that their powers terminate after the sale.

On the other hand, a property management company assigned as an agent should be given continuous power.

Step 2 – Select the Agent

Federal and state law provides little restriction on who can serve as an agent.

Additionally, the agent is not required to be a person – entities (businesses) can be nominated as attorney-in-fact as well.

For property transactions, the principal should choose a realtor, attorney, or another person experienced in buying and selling real estate.

Likewise, the principal should choose an experienced property manager or management company if they need to have tenants screened, leases signed, the property cleaned and maintained, and so on.

Step 3 – Sign & Distribute

At this point, the agent will have accepted their nomination, understand exactly what is required of them, and be prepared to carry out their assigned duties.

The principal will then need to sign the form.

Depending on the state, it may also need to be notarized.

However, proceeding with notarization regardless of what is required is recommended to ensure it is accepted by whoever it is presented to.

The principal should then make copies of the form and personally deliver the POA to recipients, or give the agent a copy to display as necessary.

Signing Requirements

StateSigning Requirements
 AlabamaNotary Public
 AlaskaNotary Public
 ArizonaOne (1) Witness and Notary Public
 ArkansasNotary Public
 CaliforniaTwo (2) Witnesses or Notary Public*
 ColoradoNotary Public
 ConnecticutTwo (2) Witnesses and Notary Public
 DelawareOne (1) Witnesses and Notary Public
 FloridaTwo (2) Witnesses and Notary Public
 GeorgiaOne (1) Witnesses and Notary Public
 HawaiiNotary Public
 IdahoNotary Public
 IllinoisOne (1) Witness and Notary Public
 IndianaTwo (2) Witnesses or Notary Public*
 IowaNotary Public
 KansasNotary Public
 KentuckyNotary Public
 LouisianaPrincipal Only*
 MaineNotary Public
 MarylandTwo (2) Witnesses and Notary Public
 MassachusettsTwo (2) Witnesses and Notary Public
 MichiganTwo (2) Witnesses or Notary Public*
 MinnesotaNotary Public
 MississippiPrincipal Only*
 MissouriNotary Public
 MontanaNotary Public
 NebraskaNotary Public
 NevadaNotary Public
 New HampshireNotary Public
 New JerseyNotary Public
 New MexicoNotary Public
 New YorkTwo (2) Witnesses and Notary Public
 North CarolinaNotary Public
 North DakotaPrincipal Only*
 OhioNotary Public
 OklahomaNotary Public
 OregonPrincipal Only*
 PennsylvaniaTwo (2) Witnesses and Notary Public
 Rhode IslandNotary Public
 South CarolinaTwo (2) Witnesses and Notary Public
 South DakotaNotary Public
 TennesseePrincipal Only*
 TexasNotary Public
 UtahNotary Public
 VermontOne (1) Witnesses and Notary Public
 VirginiaNotary Public
 WashingtonTwo (2) Witnesses or Notary Public*
Washington D.C.
West VirginiaNotary Public
 WisconsinNotary Public
 WyomingNotary Public

How to Make

1. Select Real Estate Powers

A real estate power of attorney can be used to give powers for single or multiple real estate transactions.

It is also very useful when needing someone to manage your property.

This could include signing lease agreements, buying or selling property, evicting tenants, etc.

As an example, a property owner could hire a property management company to rent out the property and keep up with the day-to-day maintenance.

2. Setting the Terms

Typically, if your intention is for a single transaction, you would select a start and end date.

If the agent is managing the premises, then the principal would maybe want the term to be indefinite.

In addition, if the principal is seeking to have the agent keep their role should the principal be incapacitated or unable to use cognitive functions, they can select the form to be “durable”.

3. Signing the POA

Once complete, your real estate power of attorney must be signed by both yourself and the agent.

It depends on the signing requirements in the state.

Real Estate POA Laws: By State

STATESTATUTE
Alabama§ 26-1A-204
Alaska§ 13.26.645
ArizonaN/A
ArkansasTitle 18, Chapter 12, Subchapter 5 and § 28-68-204
California§ 4123(b)
Colorado§ 15-14-727
Connecticut§ 1-351c
DelawareN/A
Florida§ 689.111
GeorgiaN/A
Hawaii§ 551E-34
Idaho§ 15-12-204
Illinois755 ILCS 45/3-4
Indiana§ 30-5-5-2
Iowa§ 633B.204
Kansas§ 58-654
Kentucky§ 382.370
LouisianaN/A
Maine§ 5-934
Maryland§ 4-107
MassachusettsN/A
Michigan§ 700.5502
Minnesota§ 523.24
MississippiN/A
Missouri§ 404.710
Montana§ 72-31-339
Nebraska§ 30-4027
Nevada§ 162A.480
New Hampshire§ 564-E:204
New Jersey§ 46:2B
New Mexico§ 45-5B-204
New York§ 5-1502A
North Carolina§ 32C-3-303
North DakotaCh. 30.1-30
Ohio§ 1337.45
Oklahoma58 O.S. § 1006
Oregon§ 127.045
Pennsylvania§ 5603(i)
Rhode Island§ 18-6-3
South Carolina§ 62-8-204
South Dakota§ 59-3-12
Tennessee§ 34-6-109
Texas§ 752.102
UtahN/A
Vermont§ 305
Virginia§ 64.2-1625
Washington§ 11.125.270
West Virginia§ 39B-2-104
Wisconsin§ 244.44
WyomingN/A
Author
Language English
No. of Pages3
PDF Size1 MB
CategoryForm
Source/Creditseforms.com

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