A Power of Attorney is a document authorizing one person to act for another, particularly useful in real estate when parties cannot attend closings in person.
Scope
General Powers grant broad authority. Special Powers restrict actions to specific tasks. Legal experts recommend Special Powers to minimize risk.
Duration
Powers typically remain valid until revoked, expire by terms, or end upon the principal's death. A Durable Power of Attorney survives the disability of the principal.
Proper Execution
Agents must sign: “Peter Principal, by Al Agent as his attorney-in-fact” — clearly identifying the principal and agent relationship. State laws vary significantly. Consult legal professionals before using standard forms.