When forming a corporation, you may have many options available.
Click To Learn More
A power of attorney gives an individual the right to stand in for another for legal purposes. The individual who has been granted the power of attorney may have the right to sign documents on behalf of another person, may have the right to handle financial affairs on behalf of another person, or may be able to make legal decisions for another person. The power of attorney may be granted to a lawyer, but it can also be granted to a family member or to another individual whom you might trust.
When might a power of attorney be needed? In some cases, a power of attorney may be required in order to close a real estate transaction. If you are purchasing property out of state or abroad, or cannot be physically present at the closing for some reason, you may need a power of attorney. Another case where a power of attorney may be needed is if the seller has become physically or mentally incapacitated.
If you think you might need a power of attorney to close your real estate transaction, it is important that everything be in order. Legal Counsel, PA employs a power of attorney lawyer in Orlando, Florida who can help you, so that your closing goes smoothly. Contact us today to learn more about how we may be able to help you. Have questions? We have answers. Contact Legal Counsel, PA at 407.982.4321.
Understanding Your Real Estate Power of Attorney in Florida
Real estate powers of attorney grant another individual the limited and specific right to sell or purchase real property. A power of attorney can grant another party the power to manage leases, rentals, and other aspects of property management. What kind of power of attorney you’ll sign will depend on your needs. For example, if you are purchasing residential real estate outside the state, you may need to give a power of attorney to a lawyer or trusted individual in the state where you will be purchasing the property. Additionally, if the owner of a property is incapacitated or ill, if that individual executed a durable power of attorney before incapacitation, then the durable power of attorney may be to sell the real property. There are different types of powers of attorney. If you only need a person to act on your behalf for one real estate transaction, the power of attorney may be limited in scope and have clear beginning date and end date; however, if a person has become ill or incapacitated, a power of attorney may be durable or permanent.
In order for a power of attorney to be valid, it must be signed by you in the presence of two witnesses and notarized. Legal Counsel, PA employs a power of attorney lawyer in Orlando, Florida who can assist you with this process so that your power of attorney will be in place during your real estate transaction. Having a lawyer review your power of attorney is important because if there are errors, they may be invalidated. If you are selling or purchasing property and have a power of attorney in place, you may want to also have a lawyer review the power of attorney to ensure it’s validity. In some cases, you may need to re-execute the power of attorney. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.
Who Should I Designate as My Agent When Signing a Power of Attorney?
Who you select as an agent when signing a power of attorney will depend on your needs and your situation. In all cases, the agent to whom you assign power of attorney has a fiduciary duty and responsibility to act in your best interests consistent with the scope and terms set forth in the power of attorney. If you are purchasing real estate from out of state or abroad, you may assign power of attorney to your real estate lawyer to handle closing on your behalf. Conversely, some individuals might have family and friends in the state and may assign power of attorney to a loved one or trusted friend. If a family member has become incapacitated, he or she may have assigned a durable power of attorney to a loved one, friend, or to an attorney. Who you choose to assign power of attorney should be someone you trust. Legal Counsel, PA employs a power of attorney lawyer in Orlando, Florida who can assist you with your legal needs. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.
What Do I Need to Have in Place When Completing a Long-Distance Real Estate Transaction?
Long distance home purchases and real estate transactions can be stressful. You’ll need to find professionals you can trust. One thing you’ll need to have in place when completing a long-distance real estate transaction is a power of attorney lawyer who can sign documents and handle the closing. Legal Counsel, PA employs a power of attorney lawyer in Orlando, Florida who may be able to help you. Have questions? We have answers. Contact Legal Counsel, P.A. at 407.982.4321.