A Real Estate Power of Attorney is a limited power of attorney that grants an agent power to purchase, sell, or otherwise manage real estate on your behalf. When handling real estate transactions from a distance, assigning a power of attorney can streamline the process.
Vacation rental owners who live far from the property often use a real estate power of attorney for property management. Property owners also incorporate a real estate power of attorney into their estate plans so someone can manage the property should they become incapacitated.
Whether selling your family home, purchasing a property or managing a rental property, you can transfer responsibility to a trusted agent with a real estate power of attorney form template.
When to Use
- Delegate leasing and management tasks
- Allow a real estate agent to sell a property for you
- Permit an agent to sign for real estate transactions on your behalf
- Facilitate a one-time real estate sale or purchase through an agent
- Let an agent handle real estate decisions if you become incapacitated
Forms – By State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
How to Write
Details are critical for a successful real estate power of attorney agreement. Follow these steps to avoid missing essential legal information.
Step 1 – Begin With a Real Estate Power of Attorney Template
Download a fillable real estate power of attorney in Word or PDF format. Selecting the correct state in the template generator will auto-populate the appropriate legal terms and standard verbiage.
Step 2 – Enter the Parties’ Names and Addresses
Include the name and address of the principal who is buying or selling the property. Add the name and address of the person you wish to appoint as the agent or attorney-in-fact.
Agent
You can assign power of attorney for real estate to a member of your family, a close friend, your lawyer, or your real estate agent. Select someone with no conflict of interest who you can trust to act on your behalf in good faith.
Step 3 – Add the Property Information
Indicate whether the power of attorney applies to a single property or multiple. Add the addresses of each property included in the agreement. You can also grant power of attorney over any property you own, solely or party.
Step 4 – Identify the Successor Agent
If your chosen agent cannot or will not act on your behalf, indicate who you want to represent instead.
Step 5 – Grant Powers and Authority
Indicate which powers and authority you grant the agent. This may include:
- Buying and selling
- Managing and maintaining
- Leasing
- Financing
- Accepting payment
- Executing contracts
- Handling legal proceedings
- Addressing tax matters
- Managing insurance
Step 6 – State Limitations on the Agent’s Authority
Indicate any specific limitations you wish to impose on the agent’s authority. For example, you prohibit the agent from selling your property for a price below a certain threshold.
Step 7 – Enter Effective and Termination Dates
Indicate the date the power of attorney becomes effective and the termination date. You can terminate the agreement upon the principal’s death if there is no specific termination date.
Step 8 – Choose Durable or Regular Power of Attorney
A durable power of attorney carries on regardless of your physical or mental state. A regular power of attorney terminates if you become disabled or incapacitated. Choose which option best suits your needs.
Step 9 – Enter Signature and Acknowledgement
Some states require notarization and witnesses. So, check your local laws before you sign the real estate power of attorney. Before the appropriate notary or witnesses, print your name, address, and telephone number. Then, sign and date the agreement and have the notary or witnesses complete their acknowledgments.
A real estate power of attorney may entrust the attorney-in-fact power to sign real estate purchase agreements, mortgage deeds, property disclosure statements, warranty deeds, and other critical documents on your behalf.
Legal Considerations
Granting power of attorney for real estate transactions is not a decision to undertake lightly. Protect yourself by understanding the following legal requirements and considerations.
Signing Requirements
Different jurisdictions have different signing requirements for real estate power of attorney agreements. You may need a notary acknowledgment or multiple witnesses. Before you sign, review the table below to ensure you meet the signing requirements for the state where the real property is located.
| STATE | REAL ESTATE SIGNING REQUIREMENTS |
|---|---|
| Alabama | Notary Public |
| Alaska | Notary Public |
| Arizona | Notary Public and One Witness |
| Arkansas | Notary Public |
| California | Notary Public or Two Witnesses |
Time Period
A real estate power of attorney is often for a single property-related transaction. For instance, if you assign power of attorney to sell a property, the agent will only have the power to facilitate the sale of that property. Once the sale is complete, the power of attorney expires.
For medical power of attorney for real estate, the powers allocated due to the principal’s illness or incapacity may last until the principal dies or revokes the power of attorney.
Special Considerations
Certain circumstances automatically revoke or end a real estate power of attorney. Errors or omissions in the power of attorney form can null and void the agreement. Additionally, the agent loses the authority granted under a real estate power of attorney upon the principal’s death.
Sample
Download a free real estate power of attorney form in Word and PDF below.
Frequently Asked Questions
Can I Give my Realtor Power of Attorney?
You can give your realtor power of attorney. However, attorneys, brokers, and lenders often recommend against granting your real estate agent power of attorney, as they have a potential conflict of interest.
How Can I Use a Power of Attorney to Close on a Home?
You can grant power of attorney to close on a home if you cannot reasonably attend the closing yourself. If you must have someone handle the closing through an agent, confirm with the title company, mortgage lender, and other parties before signing a power of attorney for your real estate closing.
What’s the Difference Between Power of Attorney and Executor of Estate?
The primary difference between a power of attorney and the executor of an estate is that the executor is carrying out the will of a deceased individual, while the agent with power of attorney acts on the wishes of the living principal.
