Updated June 06, 2023
An Illinois real estate power of attorney is a document that gives a Principal a written document so that they will have the ability to choose an Attorney In Fact to help with the management, sale, or refinancing of their real property. This document is usually used for the purpose of providing permission for an attorney to work with buyers in the closing of a sale, although it will serve other purposes with regard to real estate only.
The Principal must carefully read and accept all of the document’s information before signing. Once the Principal has completed and collected all of the respective signatures, a Notary Public will be required to complete and acknowledge the form for use by the Attorney In Fact.
Laws
- Statutes – Illinois Power of Attorney Act (§§ 45/1-1 — 45/4-12)
- Signing Requirements (765 ILCS 5/20; 755 ILCS 45/3-3) – One (1) Witness and Notary Public.