This Power of Attorney for Real Estate Transaction form is for a Purchaser to authorize an attorney-in-fact to execute all documents and do all things necessary to purchase a particular parcel of real estate for purchaser, including loan documents. This form must be signed and notarized.
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How to fill out Alabama Special Or Limited Power Of Attorney For Real Estate Purchase Transaction By Purchaser?
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The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.
An attorney-in-fact, also called an ?agent,? is a person who is authorized to act on behalf of another person, known as the ?principal,? typically to perform business or other official transactions.
An attorney in fact is an agent authorized to act on behalf of another person, but not necessarily authorized to practice law, e.g. a person authorized to act by a power of attorney.
A Power of Attorney Could Leave You Vulnerable to Abuse Often, this does not happen ? at least not unless or until abuse of power becomes egregious. Because of the potential that an agent could take advantage of you or steal from you, it is very important that you select the right person to act as your agent.
Things You Should Know Spell out an attorney's full name (without Mr. or Ms.) followed by a comma and the abbreviation ?Esq.? (Esquire) or the phrase ?Attorney at Law.? Use ?J.D? (Juris Doctor) after their full name (without Mr. or Ms.) ... Add the name of the law firm on the next line, followed by the full office address.