Free Real Estate Power of Attorney Form Templates (MS Word)

A real estate power of attorney form is a legal document used by the owner of real estate. They use it to grant another individual (Agent) to perform a wide range of assignments on behalf of the Principal’s real estate. For the principal’s best interest, this may involve the selling, buying, leasing, and managing property.

Types of real estate power of attorney:

There are two main types of real estate power of attorney. Let us discuss them below;

Limited real estate power of attorney

The limited real estate power of attorney provides only a certain range of responsibilities to the agent by the principal. This document can be used when the real estate owner is temporarily unavailable. During retaining sovereign ownership and bears financial benefits, this document can be used to delegate functions that involve managing, renting, selling, or purchasing his real estate property.

General real estate power of attorney

This type of POA authorizes the attorney-in-fact more power and a wider range of responsibilities than the limited POA. For a lengthier duration, it also enables the agent to carry out duties.

How to get real estate POA?

Let us discuss step-by-step on how to get a real estate POA;

Selecting the agent

The principal should have to make decision carefully that who will manage his properties. He should make sure that the agent should be someone capable of representing his best interest. Also, the agent is very trustworthy especially when that person is given control to a large extent.

Select the real estate powers

This form can be used for multiple or single transactions. Delegating real estate property management to an individual or entity is appropriate. The powers may composed of purchase or sale of property, lease agreements, tenancy and evacuation of tenants, and more.

Setting the terms form

According to the principal’s desires, the terms on real estate power of attorney forms can be set. The duration and scope of authority should be given to the agent. A durable real estate POA may be given to the agent in case the principal is no longer able to perform cognitive functions.

Consider state laws

The state laws must be taken into consideration while writing the real estate power of attorney. In order to check the preparation of real estate POA are duly followed, it must be made sure that all the rules provided by the state.

Complete and sign

When you have done with all the above steps, the principal and the agent must sign the real estate power of attorney forms. Furthermore, signing requirements may vary from one state to another. You may also like Financial Power of Attorney Form.

How to fill real estate POA form?

The following information should be included in a real estate POA form;

• You have to provide a detailed description of the property involved whether it is liable for purchase or sale. Not just include the address of the property alone.
• The individuals or parties that are involved in the attorney’s real estate power should be added the attorney-in-fact, the principal, and any substitute agents.
• It must clearly state that conditions that the power applies to, such as leasing, managing, or closing the property.
• In case, when the seller is the principal, the attorney-in-fact must have the legal right to sign the documents.
• The attorney-in-fact should also have the legal right to sign buyer-related documents on behalf of the principal in case the buyer is principal.

In authorizing a real estate power of attorney, there are essential requirements that involve the following;

• Principal
• Agent
• Real estate power of attorney forms
• Real estate power of attorney documents
• Notary public
• Witnesses (2)

Fillable Real Estate Power of Attorney Form

Property Power of Attorney Form

Real Estate POA Form

Real Estate Power of Attorney Form

Conclusion:

In conclusion, a real estate power of attorney form is a legal document and in order to be considered binding, it should be written, signed, and sealed by a lawyer. This form can address the management, sale, mortgage, or purchase of a property.

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