Franklin Ohio Special or Limited Power of Attorney for Real Estate Sales Transaction By Seller

State:
Ohio
County:
Franklin
Control #:
OH-P099
Format:
Word; 
Rich Text
Instant download

Description

This Special or Limited Power of Attorney for Real Estate Sales Transaction By Seller form is for a Seller to authorize an attorney-in-fact to execute all documents and do all things necessary to convey a particular parcel of real estate for Seller.

A Special or Limited Power of Attorney for Real Estate Sales Transaction By Seller is a legal document specific to Franklin, Ohio, that grants designated authority to an individual (the "attorney-in-fact") to act on behalf of the seller in real estate sales transactions. This power of attorney is especially useful when the seller is unable to be physically present or involved in the process due to various circumstances. In Franklin, Ohio, there are a few different types of Special or Limited Power of Attorney for Real Estate Sales Transaction By Seller that hold significance in particular situations. These variations include: 1. General Special Power of Attorney: This type of power of attorney grants broad authority to the attorney-in-fact, allowing them to perform various actions related to the real estate sales transaction. It covers a range of tasks, including signing contracts, transferring deeds, and handling financial matters. 2. Limited Special Power of Attorney: Unlike the general power of attorney, a limited special power of attorney specifies and limits the authority granted to the attorney-in-fact. The document explicitly mentions the specific powers the attorney-in-fact possesses, enabling them to complete only those tasks specified within the agreement. 3. Durable Special Power of Attorney: A durable special power of attorney remains valid even if the seller becomes mentally incapacitated or unable to make decisions. This type of power of attorney is particularly useful in ensuring the continuity of real estate sales transactions. The Franklin Ohio Special or Limited Power of Attorney for Real Estate Sales Transaction By Seller document addresses the unique specifications and requirements of the Franklin jurisdiction. It complies with the legal standards in the state of Ohio and includes all necessary clauses and provisions to protect the interests of both the seller and the attorney-in-fact. When using this power of attorney document, it is essential to consult with an attorney familiar with Franklin, Ohio real estate laws to ensure compliance and accuracy. This legal professional can provide guidance on customizing the power of attorney according to the specific needs and circumstances of the real estate sales transaction.

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FAQ

A power of attorney for the conveyance, mortgage, or lease of an interest in real property must be recorded in the office of the county recorder of the county in which such property is situated, previous to the recording of a deed, mortgage, or lease by virtue of such power of attorney.

Creating a FPOA Choose an agent. An attorney-in-fact or ?agent? is an adult who can make your financial choices when you can't. It is very important to choose someone that you trust.Fill out the FPOA form. Read it carefully and initial next to the rights you want your agent to have.Sign the form. Sign the form.

While Ohio does not technically require you to get your POA notarized, notarization is strongly recommended. Under Ohio law, when you sign your POA in the presence of a notary public, you signature is presumed to be genuine?meaning your POA is more ironclad.

A person given power of attorney over a property cannot sell the asset unless there is a specific provision giving him the power, the Supreme Court has held in a judgment.

Unless you specify otherwise, generally the agent's authority will continue until you die or revoke the power of attorney or the agent resigns or is unable to act for you. Your agent is entitled to reasonable compensation unless you state otherwise in the Special Instructions.

In this case, they are treated the same as a will, meaning they need two witnesses who are: Aged 18 or over. Of sound mind. Not related to the principal or agent.

Give a copy of your POA form to your agent and other interested parties, like your bank and medical office. In Ohio, if your financial POA gives your agent the authority to buy or sell real estate, you must file it at the recorder's office in the county where the property is located.

The PoA may be made for a limited or indefinite period of time. The PoA should state if the attorney can sub-delegate the powers delegated to him or her to another person and that the PoA shall be valid even in the event you are incapacitated due to ill health.

Generally, there are no formalities for POAs and they may be given orally or in writing. However, if the act which the Principal requires the Agent to perform has certain prescribed formalities, then the POA will need to comply with the same formalities.

No, power of attorney documentation is not filed with the courts. However, in some parts of Ohio, the property will get filed with the county recorder's office to allow the attorney to manage real estate property. Otherwise, simply signing the document is all that the law requires.

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Franklin Ohio Special or Limited Power of Attorney for Real Estate Sales Transaction By Seller