Power of Attorney

A Power of Attorney (POA) in real estate is a legal document that grants one person (the agent or attorney-in-fact) the authority to act on behalf of another person (the principal) in real estate transactions. This can include buying, selling, managing, or refinancing property. A POA is particularly useful when the principal is unavailable, incapacitated, or unable to personally complete the necessary transactions. There are different types of POAs, such as a General POA, which grants broad authority, and a Limited or Specific POA, which is restricted to a particular transaction or time frame. Using a POA can streamline real estate transactions when a principal is unable to act on their own behalf.

Retainer Fee: $700.00
(Includes $600.00 cost for document preparation and $100.00 toward recording fees)

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Key Roles in a POA

  • Principal – The person granting authority
  • Agent (Attorney-in-Fact) – The person authorized to act on behalf of the principal
  • Third Parties – Banks, healthcare providers, title agencies, or institutions recognizing the POA
  • Notary or Witnesses – Required for legal validation

Types of Power of Attorney

  • General POA – Grants broad authority over financial and legal matters
  • Durable POA – Remains valid even if the principal becomes incapacitated
  • Limited (Special) POA – Grants specific powers for a particular task or time period
  • Medical (Healthcare) POA – Allows the agent to make medical decisions on behalf of the principal
  • Springing POA – Becomes active only when a specific event occurs (e.g., principal becomes incapacitated)

When is a POA Needed?

  • During illness or disability – Ensures someone can handle financial or medical affairs
  • Elderly individuals – Helps with long-term care planning
  • Military service members – Manages financial matters while deployed
  • Business transactions – Assigns someone to act in legal or financial deals
  • Traveling abroad – Allows an agent to handle affairs in the principal’s absence

How to Create a Power of Attorney

  • Determine the type of POA needed (General, Durable, Medical, etc.)
  • Choose a trusted agent who will act responsibly
  • Draft the POA document with clear details on authority and limitations
  • Sign and notarize the document (some states require witnesses)
  • Record if used in real estate transactions

Legal Considerations & Limitations

  • The principal must be of sound mind when signing the POA
  • Agents must act in the best interest of the principal
  • POA does not override a will or estate plan
  • Some powers (e.g., making a will) cannot be delegated via POA
  • Ceases to be effective upon the death of the principal

Revoking or Changing a POA

  • The principal can revoke a POA at any time if mentally competent
  • Steps to revoke a POA:
    1. Create a written revocation document
    2. Notify the agent and relevant institutions
    3. Destroy old copies and update records
  • POA automatically ends if:
    1. The principal dies
    2. The agent is unable or unwilling to serve
    3. The POA specifies an expiration date

Services Offered by RELAWDOC

  • Flat fee pricing for peace of mind with a clear, upfront cost
  • Easy online ordering
  • Simple information collection process
  • Consultation to verify information and terms
  • Review by an attorney
  • Coordination of document execution and recording as requested (for additional fees)