What is a Real Estate Power of Attorney?
Florida real estate power of attorney (POA) is a legal document that enables one person (an agent) to act on behalf of another one (the principal) in matters related to real estate handling of the latter. This form is also considered limited as it allows the agent to perform only a narrow range of actions.
When Is a Real Estate Power of Attorney of Use?
A real estate POA is used in cases when selling, buying, or managing a particular property.
For example, talking about Florida, some might want to move to this state and purchase a house or a flat there to live in but cannot be present in Florida for some reason.
This is where a real estate POA would be of use, as it would let another person in trust help you with some procedures that must take place in Florida.
But the seller can also find some usefulness in the real estate POA, as he or she might need to move out fast or want some third party to take care of everything.
All of the procedures that might take place during the selling process can be done by the seller and the buyer themselves, but when there is no such opportunity and the parties do not have much time for mailing the signed documents — use a real estate POA.
The Contents of a Real Estate Power of Attorney
Here is the general checklist for you to make sure that your Florida real estate power of attorney document is decent. Look for the following characteristics:
- Names of all of the parties: the principal and the agent.
- The description of the property that is considered to be sold or purchased, which should include the real address.
- The outline of the concrete procedures and documents that the agent is able to sign, be the principal the buyer, or the seller.
- The date when the real estate POA expires and the agent no longer has a right to be a representative of the principal.
Note that specific requirements are added for those principals that are located out of the country or working in a military sphere:
- For those out of the country, the real estate POA should be signed at the USA embassy.
- For those in the military, the real estate POA should be signed in the presence of a military officer.