This form is one of the Uniform Conveyancing Blanks developed by Minnesota Uniform Conveyancing Blanks Commission pursuant to Minnesota Code Section 507.09. These forms, which pertain to the transfer of legal title of property from one person to another, or the granting of an encumbrance such as a mortgage or a lien, have been approved by the Commissioner of Commerce. The form is available here in PDF format.
Minnesota Affidavit of Authority of Successor Attorney-in-Fact - UCBC Form 100.2.2
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Minnesota
Control #:
MN-1035M
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Description Attorney Fact Successor
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Affidavit Successor FAQ
General Power of Attorney. Durable Power of Attorney. Special or Limited Power of Attorney. Springing Durable Power of Attorney.
If you have executed a Durable Power of Attorney, then you have signed a document appointing a person to make financial decisions on your behalf. The document is called a Power of Attorney, and the person named to make decisions on your behalf is called an Attorney-in-Fact (otherwise known as an Agent).
Definition. An agent authorized to act on behalf of another person, but not necessarily authorized to practice law, e.g. a person authorized to act by a power of attorney. An attorney in fact is a fiduciary. Also known as attorney in fact or private attorney.
To act as an attorney-in-fact, you will need to bring the power of attorney document with you and show it to prove you have the authority to act. If you sign documents in this role, sign them as "Your Name, Attorney-in-Fact for Name of Principal."
The general power of attorney grants the attorney-in-fact not only the right to conduct any business and sign any documents on behalf of the principal, but to make decisions, including financial decisions, on their behalf.
The lender doesn't intend to extend credit if the appointed attorney-in-fact doesn't have the authority to sign for the principal. The language in a power of attorney must be sufficient to provide that authority. The rules relating to loans and powers of attorney are not as simple as you might think.
There are occasions when attorneys in fact sign on behalf of the borrower, which can be a potential suspicious circumstance. In such instances, Standard 5.5 requires an attorney in fact to be approved by the lender's representative, which usually is done prior to the signing.
Non-Durable Power of Attorney. Durable Power of Attorney. Special or Limited Power of Attorney. Medical Power of Attorney. Springing Power of Attorney. Create Your Power of Attorney Now.
When the document goes into effect, you become that person's attorney in fact, which means you act as their agent. Generally, to sign documents in this capacity, you will sign the principal's name first, then your name with the designation "attorney in fact" or "power of attorney."