An Arkansas real estate power of attorney grants an individual, known as the “principal,” the authority to appoint another person, the “agent” or “attorney-in-fact,” to manage their real estate affairs. This form can be used for various purposes related to real property transactions, such as buying, selling, leasing, or managing real estate assets within the state.
The principal must sign the document in the presence of a notary public to be legally valid. Additionally, the document should specify the exact powers granted to the agent, including whether they have the authority to mortgage, sell, or lease specific properties on behalf of the principal. Furthermore, the powers typically remain in effect until revoked by the principal unless a specific expiration date is stated within the document.