Power Attorney To Sell Property

State:
Arizona
Control #:
AZ-POA-3
Format:
Word; 
Rich Text
Instant download

Description

The Durable Power of Attorney to sell property allows an individual, referred to as the Principal, to authorize another person, the Attorney-In-Fact, to manage and sell their property on their behalf. This form is crucial in situations where the Principal may not be able to manage their own assets due to incapacity or absence. Key features include the specification of powers granted to the Attorney-In-Fact, restrictions regarding the misuse of assets, and provisions for reimbursement of expenses incurred. The form also requires witness signatures and can remain effective even if the Principal becomes incapacitated. Filling out this document involves clearly identifying the Attorney-In-Fact, specifying the property in question, and ensuring it is signed in the presence of witnesses and a notary public. It's especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in estate planning or real estate transactions, ensuring that the interests of the Principal are legally protected and managed effectively.
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FAQ

A. A power of attorney executed in the Commonwealth on or after July 1, 2010, is valid if its execution complies with § 64.2-1603. B. A power of attorney executed in the Commonwealth before July 1, 2010, is valid if its execution complied with the law of the Commonwealth as it existed at the time of execution.

If the power of attorney is durable and might be used to handle real estate transactions, it should also be recorded with the circuit court in the county where the property is located.

File a Copy With the Land Records Office If you gave your agent the power to conduct real estate transactions, you should also file a copy of your POA in the land records office (a division of the circuit court clerk's office in Virginia) in the county where you own real estate.

The specific requirements are different in each state; however, in Virginia, your document will need the signature of a notary. If your agent(s) will have the authority to engage in real estate transactions, the Power of Attorney must be notarized and recorded or filed with the county.

It allows you to give someone the authority to buy or sell real estate for you, or to conduct any other business concerning real estate that you own. The person you name to represent you is called your "attorney-in-fact." Any trusted person with common sense can do the job.

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Power Attorney To Sell Property