Pennsylvania Special or Limited Power of Attorney for Real Estate Sales Transaction By Seller
Definition and meaning
The Pennsylvania Special or Limited Power of Attorney for Real Estate Sales Transaction By Seller is a legal document that allows an individual (the principal) to designate another person (the agent) to manage specific real estate transactions on their behalf. This type of power of attorney grants the agent comprehensive authority to perform tasks related to the sale of real property, including signing documents, collecting funds, and conducting settlement processes.
How to complete a form
Completing the Pennsylvania Special Power of Attorney form requires careful attention to detail. Here are the steps to follow:
- Begin by clearly stating the name and address of the principal.
- Designate the agent by providing their full name and address.
- Describe the specific property involved in the transaction, including its legal description.
- Specify the powers granted to the agent, which may include the authority to sign contracts or receive proceeds.
- Include the date the power of attorney is executed, followed by the principal's signature.
Who should use this form
This form is appropriate for individuals selling real estate in Pennsylvania who wish to assign authority to another person to handle the sale process. It is particularly useful for those who are unable to be present during the transaction due to geographical constraints or personal circumstances, such as illness or travel.
Legal use and context
The use of a special power of attorney for real estate transactions is governed by Pennsylvania law. This document must be executed in accordance with the laws outlined in the Pennsylvania Consolidated Statutes, particularly 20 PA.C.S. Ch. 56. Understanding these regulations helps ensure that the document is valid and enforceable during the sale process.
It is advisable for individuals to consult with a legal professional before executing this document to ensure that all legal requirements are met and the agent's authority is clearly defined.
Key components of the form
Several critical elements must be included within the Pennsylvania Special Power of Attorney form:
- The names and addresses of the principal and agent.
- A clear description of the property being sold.
- Explicit powers granted to the agent.
- The principal's signature and date of execution.
What to expect during notarization or witnessing
When completing the Pennsylvania Special Power of Attorney, notarization is a critical step. The document must be signed in the presence of a notary public, who will verify the identity of the principal and witness the signing. Additionally, at least two witnesses, who are not related to the principal or the agent, must be present to affirm that the principal is of sound mind and acting voluntarily.
Common mistakes to avoid when using this form
When executing the Pennsylvania Special Power of Attorney, it's essential to avoid these common pitfalls:
- Failing to properly identify the agent or scope of powers.
- Not having the document notarized or witnessed accordingly.
- Leaving out essential information about the property or the principal’s intentions.
Taking extra care to complete the document accurately can prevent misunderstandings and ensure a smooth transaction.
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FAQ
Pennsylvania law requires that POAs must be signed by the principal and witnessed by two people who are ages 18 or older. The document must also be dated and notarized. If the principal cannot write, he or she is allowed to sign the document by using a mark or by asking someone else to sign the POA for him or her.
In Pennsylvania, a Power of Attorney does not need to be witnessed or notarized to be effective. However, if you own real estate, you should have it notarized so it can be recorded. Also, you can only record an original Power of Attorney. Copies cannot be used to record a Deed.
Property and Financial Affairs Provided there are no restrictions within the lasting power of attorney (LPA) or enduring power of attorney (EPA) you can usually do the following: Sell property (at market value) Buy property. Maintain and repair their home.
The Supreme Court has ruled that sale transactions carried through general power of attorney will have no legal sanctity. "A transfer of immovable property by way of sale can only be by a deed of conveyance (sale deed).
Remember that all of the authorized agents under the power of attorney or representatives in an estate must sign the listing agreement, disclosure documents, etc. For example, when there are two executors in an estate, then they both must sign the Listing Contract.
Name, signature, and address of the principal. Name, signature, and address of the agent. Properties and activities under the authority of the agent. Date of effect and termination of authority. Compensation to services of the agent.
Before death, a person doesn't have an executor (although the person may have granted the power of attorney to someone to act on his behalf).An ill, elderly parent who plans to sell or give away his or her principal residence would be well advised to consult with a lawyer who does Medicaid planning.
Powers of attorney are often used to transfer real estate.The person named as agent (usually a spouse or other family member) can use the power of attorney to sign the real estate documentsincluding the deedwithout opening a guardianship or conservatorship or otherwise obtaining court permission.
Is property sale through power of attorney legal? In 2011, the Supreme Court ruled that property sale through power of attorney (PoA) is illegal and only registered sale deeds provide any legal holding to property transactions.