what is a real estate power of attorney?

A real estate power of attorney is a legal document that grants authority to a person, known as the attorney-in-fact or agent, to act on behalf of another person, known as the principal, in matters related to real estate. The principal confers the power to make decisions and perform legal acts on their behalf regarding the management, sale, purchase, lease, or leasehold of real property.

A real estate power of attorney can be used in various situations, such as when the principal is unavailable, incapacitated, or wishes to delegate the management of their real estate to a trusted person. Real estate power of attorney procedures may vary from country to country and are typically governed by local laws regarding powers of attorney and real estate.

It is important to note that a real estate power of attorney is a powerful legal document and should be carefully drafted. It is recommended to consult with an attorney or a notary to ensure that the power of attorney is valid, compliant with the law, and meets the specific needs of the principal. It is also important to choose a trustworthy attorney-in-fact and fully understand the powers granted to them before signing a real estate power of attorney.