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New York Real Estate Power of Attorney Form

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New York Real Estate Power of Attorney Form will serve as proof of a principal property owner’s intent on granting his or her authority to an agent over a parcel of land. This paperwork can also serve to delegate an agent with the power required to purchase real property on behalf of the principal. It will be up to the principal executing this document by signature precisely what types of decisions and actions the agent can wield principal authority over. Some other directives will also need to be set here such as when such representation will be appropriate. In turn, the attorney-in-fact must treat the property and/or any transactions as if the principal were present and in accordance with the principal’s instructions.

The document, once completed, must be witnessed by two people and notarized in order for it to be effective. It should also be dispensed to the Agent and any other interested parties accordingly. It is recommended that an ongoing file of who has been given a copy of this document be maintained.

Laws – § 5-1501B

How to Write

1 – Use This Page To Download

This page supplies the documentation one requires to appoint an Attorney-in-Fact with Principal Real Estate Powers. Use the buttons supplied by the image to download a copy then open it with either a compatible program to edit on-screen or a current browser so that you may print it.

2 – Supplement The Declaration Statement With Specific Information

The first statement has been prepared with the necessary language to grant Real Estate Powers to an Attorney-in-Fact but will not be effective unless you supply the identities and locations of the individuals involved (Principal and Attorney-in-Fact).

The first three blank spaces in this statement are reserved to provide a report on the Principal granting Powers. The Principal’s Legal Name should be entered on the first blank space here.

The next three blank spaces in this statement will call for the Principal’s Home Address. The Principal’s Home Building Number, Street Name, and Apartment Number should be recorded on the blank space labeled “Street Address.” The City and State where the Principal lives should be recorded after in the spaces provided after the phrases “…City Of” and “State Of” (Respectively).

 

The Attorney-in-Fact meant to assume Principal Real Estate Powers will also need to be identified. Look for the words “Hereby Appoint” then document the Name of the Attorney-in-Fact on the blank space immediately following these words.

The Home Address of the Attorney-in-Fact must be reported as well. Three blank spaces will follow the Attorney-in-Fact name you have entered. These blank spaces should be used to present the Attorney-in-Fact’s Home Address. This should be reported as a Street Address, City, and State.

3 – The Real Estate Powers Granted Should Be Adequately Defined

Now you will need to document precisely what the Attorney-in-Fact may do with Real Estate Property that will be defined here. Each of the paragraphs in Article I will define actions within a subdivision of Principal Power. The Principal should read each of these passages carefully. If he or she wishes to grant the Attorney-in-Fact the ability to conduct the affairs described in a paragraph, the Principal will need to initial the blank space preceding the applicable selection and place a mark in the corresponding check box. Each of these paragraphs require the Physical Address of the concerned Property as well as its Legal Description.

The first paragraph, “Sale Of Real Estate,” allows the Principal to grant his or her Principal Authority to the Attorney-in-Fact in making Principal Decisions and taking Principal Actions regarding the sale of a Real Estate Property. To grant such Authority the Principal will need to initial this selection, mark the check box provided, enter the Physical Address of the Property on the first blank line, and document the Legal Description of the Property in the second blank line.

The “Purchase Of Real Estate” may be granted as a Principal Real Estate Power to the Attorney-in-Fact when the Principal initials the blank space and marks the check box corresponding to the second paragraph. This paragraph will also require the Physical Address and Legal Description of the concerned Property recorded within it.

If the Principal intends the Attorney-in-Fact to hold Principal Authority in Property Management, then he or she should initial the third paragraph and mark the check box just before the words “Management Of Real Estate.” Make sure to record the Street Address and Legal Description of the concerned Property.

The Principal will also have the option of delegating the Principal Authority to conduct affairs in “Refinancing” with a Property by initialing the last paragraph and marking the check box. The Physical Address of the Property the Attorney-in-Fact may act with Principal Authority over should be entered on the first blank space and its Legal Description must be recorded on the second blank space.

4 – Document The Period Of Effect

We will now have to provide some framework relating to when the Attorney-in-Fact will be able to use these Powers and when he or she will no longer have access to them. This will be the subject of Article III. This can be documented by having the Principal initial one of the three statements in this section. It should be noted; a Principal can issue a written revocation at any time at his or her discretion for whatever reason he or she chooses.

If the Principal wishes this document to become effective as of the Signature Date and Terminate as of a specific Date, then he or she must fill in the desired Date of Termination on the blank spaces in the first choice. The Principal should then initial the first statement and mark the corresponding check box.

The Principal should initial and check the second choice if he or she prefers this Power of Attorney to automatically terminate if pronounced incapacitated or dead or if he or she issues a written revocation.

If the Principal desires this to be a Durable Power of Attorney, where the Powers delivered only terminate upon his or her death (or upon a written revocation), the Principal should initial the third statement and mark the appropriate check box.

5 – The Principal Will Execute This Document With A Witnessed And Notarized Signature

The Principal will have to coordinate with the Attorney-in-Fact, two Witnesses, and a Notary Public to provide a proper signature to this document. Once all these parties have been gathered the Principal signing may occur.

The first task at hand for the Principal will be to record the Date when this signing occurs. This date must be supplied in Article VI using the three spaces provided in the final statement.

The Principal will have two final areas to attend to. He or she must provide a Signature and Printed Name on the spaces following the labels “Principal’s Signature” and “Print Name.”

The Attorney-in-Fact must also sign and print his or her name using the lines labeled “Agent’s Signature” and “Print Name”

The two Witnesses that have observed the Principal Signing will also need to participate in the execution of this form by signing a Testimony to its authenticity. Two separate areas have been provided for this purpose. Each Witness should select an “Affirmation Of Witness Statement” then fill his or her Name into the paragraph being reviewed. Once done, the Witness must provide his or her Signature and Printed Name on the empty lines located just after the testimony.

The final segment of this paperwork is for the exclusive use of the Notary Public. This entity will notarize the signing of this delegation of Power

 

Lastly, the final page of this document, titled “Acceptance Of Agent,” shall enable the Attorney-in-Fact to officially and formally accept the responsibilities listed here. He or she should read the statement in this section, then sign and print his or her Name in the appropriate areas.


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