A Minnesota limited power of attorney is a legal tool allowing individuals to appoint an agent for specific financial transactions or tasks, such as managing real estate closings. This form grants narrowly defined authority, ensuring the agent can only perform actions explicitly outlined by the principal.
It’s essential to carefully articulate the powers granted to prevent misinterpretation and to choose a trusted individual as your agent. This type of power of attorney is typically temporary, expiring once the designated tasks are completed.
Legal Considerations
Statute – Chapter 523. Powers of Attorney
Signing Requirements – M.S.A. § 523.01 – Notary public.
Related Forms
