Specific Power of Attorney for Real Estate

Establishing a power of attorney for real estate purposes.

A specific power of attorney for real estate can be helpful to you if you invest in real estate. The fact is that you can best protect and enhance your real estate portfolio through the expert assistance obtained by designating an agent through this type of power of attorney.

Function

A specific power of attorney for real estate allows you to appoint an agent to act on your behalf in regard to certain real estate matters. In the instrument you can either list specific real estate tasks or make it generalized to deal with all of your real estate matters.

Time Frame

You can establish a specific period of time for the specific power of attorney for real estate to remain in effect. You can terminate the power of attorney any time you desire. The instrument terminates if you become incapacitated or die.

Notice of Termination

You provide the agent with written notice of your desire to terminate the power of attorney. You need to attempt to get the original power of attorney back in your possession. Notify individuals and businesses with relationships with your agent that the power of attorney is terminated.

Benefits

This type of power of attorney allows you to involve an experienced professional in tending to your real estate affairs.

Misconceptions

Because there is no durability provision in this particular power of attorney, the agent cannot act on your behalf if you become incapacitated.

References

• "A Practitioner's Guide to Powers of Attorney"; John Thurston; 2007
• 'Lectric Law: Power of Attorney

Resources

• Legal Services for the Elderly: Power of Attorney