Real Estate Terms Glossary
What is the Power of Attorney?
Note that power of attorney is a legal document that gives an attorney-in-charge or a legal agent the full authority to act and handle tasks on behalf of the principal. So, a power of attorney allows you to appoint an individual or an organization to manage your property, medical or financial affairs if you are not able to do so.
The legal agent or attorney has to place the principal’s best interests ahead of their own. Most agents under a general POA agreement are authorized to handle issues such as signing checks and selling property.
Examples of Power of Attorney
- Example 1: General power of attorney
- Example 2: Durable power of attorney
Here’s Investopedia’s definition of Power of Attorney .
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