Florida Real Estate Law Power of Attorney
Real Estate Transaction Power of Attorney Tips
A power of attorney (“POA”) is a legal document which allows an individual to authorize a second individual to act on his or her behalf in order to carry out his or her will. This often occurs when the purchaser or seller of a property is not available to execute the necessary purchase and sale documents, or loan documents, and a spouse or other trusted individual is given the authority to execute the documents for the absent party. A Florida Real Estate Power of Attorney used to transfer or encumber real estate title has particular requirements. The following are five tips to remember when using a Power of Attorney for a Florida real estate transaction:
1. A Florida Real Estate Power of Attorney must include the term(s) “to sell and convey” or “to purchase and acquire” or “to execute any and all mortgage or other documents encumbering the property” or other language specifically directing authority to transfer or encumber real estate. although a POA without these terms may also be valid, correct terminology will usually eliminate title insurance underwriter closing delays.
2. A Florida Real Estate Power of Attorney must be clearly executed by the party granting authority, and must include two witnesses.
3. A Florida Real Estate Power of Attorney must be properly notarized. The Notary Public can also be one of the witnesses.
4. A Florida Real Estate Power of Attorney must include the address or legal description of the specific subject property.
5. A Florida Real Estate Power of Attorney must be in recordable form if it will be used to execute a recordable document because it must be recorded along with the other closing documents.
Contact Christian N. Folland, Esq., a Florida Bar Certified real estate attorney at 786.276.9900 or email@example.com for all your Miami Florida real estate law and Miami Florida title insurance needs.
Folland & Associates, LC, a full service real estate law firm in Miami Beach, FL 33139, and South Pointe Title Company, are owned and operated by Christian N. Folland, Esq.