A Pennsylvania real estate power of attorney grants an agent or “attorney-in-fact” the authority to manage the principal’s real estate affairs. This includes the power to handle transactions such as collecting rent, signing leases, and buying or selling property. The principal can restrict these powers, particularly in cases of incapacity or disability.
The principal retains the right to revoke it at any time through written notice. It’s essential for the principal to assess the trustworthiness and capability of the agent and to decide if the agent’s powers are durable or non-durable, with durable powers remaining in effect even if the principal becomes incapacitated.
Legal Considerations
Statute: § 5603(i).
Signing Requirements: Notary public and two witnesses (§ 5601(b)).
