Power of Attorney to Sell Property: How to Set It Up and Make Sure It’s Honored
Need help in managing property affairs? Discover how to use the power of attorney to sell property, from the process to legal considerations.
“Power of attorney” (POA) is a flexible legal tool that grants permission for someone to act on another’s behalf on a temporary or permanent basis. In real estate, granting a power of attorney to sell property can be incredibly helpful in situations where you’re unable to manage the sale yourself, such as during a job relocation or military deployment.
Many people also work out power of attorney arrangements with their loved ones through estate planning, in case the unexpected happens. For health reasons, you may need to step in and handle affairs related to selling the family home or make plans to entrust your son, daughter, or close friend with this very important job.
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However, selling a home is complicated in its own right. Add power of attorney to the mix, and you face an additional set of rules, paperwork, and communications.
In this guide to power of attorney to sell property, we’ll cover the different types and scopes of power of attorney, the best ways to talk about power of attorney before you need it, and the steps necessary to make sure it’s honored (without being abused). Finally, we’ll reflect on the philosophy of the power of attorney and the enormous responsibility it bears.
