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With a power of attorney (POA), you can appoint a trusted, competent person to act for you later, if you can’t carry out real estate transactions on your own behalf. In POA lingo, you are the principal, and your trusted person becomes the agent or attorney-in-fact (not to be confused with a real estate agent or an actual attorney!).
Continue reading “Creating a Power of Attorney”
A power of attorney enables an agent (also called the attorney-in-fact) to conduct transactions on another person’s behalf.
The POA document often appears in the world of real estate transactions. A person (called the principal) might require a stand-in to sign financial documents, on account of absence or disability. A limited power of attorney can enable the agent to carry out any and all real estate transactions or even give an agent specific authority to sell one home (“for the sale of 123 Smith Avenue only”), and for a specified price.
Continue reading “Conveying Real Estate Through a Power of Attorney”