A New York real estate power of attorney is a legal document where a principal appoints an agent to handle real estate transactions, including executing and modifying lease agreements, handling property disclosures, delivering eviction notices, attending closings, and transferring funds for property purchases or sales.
Before acting, the principal must record the power of attorney at the County Clerk’s Office where the property is located. This form specifies the agent’s authority and responsibilities, which must be executed according to the principal’s instructions.
Legal Considerations
Statute: § 5-1502A.
Signing Requirements: Notary public and two witnesses (§ 5-1502A, RPP § 298).
