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Special or Limited Power of Attorney for Real Estate Sales Transaction By Seller - Indiana 2025

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The document is a Special Power of Attorney for closing a real estate transaction in Indiana, allowing the appointed agent to act on behalf of the principal in executing necessary documents and handling financial transactions related to the sale of a specified property.

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What three decisions cannot be made by a legal power of attorney?

When someone makes you the agent in their power of attorney, you cannot: Write a will for them, nor can you edit their current will. Take money directly from their bank accounts. Make decisions after the person you are representing dies. Give away your role as agent in the power of attorney.

What is a power of attorney for real estate in Indiana?

In Indiana, a real estate power of attorney must either be notarized or attested and signed by two witnesses. In the case of the witnesses, neither individual may be any of the following: The agent or successor agent appointed in the POA. Someone who receives a power of benefit from the POA.

Who can override a power of attorney in Indiana?

3 parties who can override a power of attorney A power of attorney gives an individual the legal authority to make financial or medical decisions or carry out particular tasks for the principal. Three parties can revoke this right: the principal, legal guardians, or the court.

What is the difference between limited and specific power of attorney?

A Limited Power of Attorney (also called a Specific or Special Power of Attorney) allows the person who has the POA, the holder, to legally act on behalf of someone else, the principal, for a specific timeframe, scope or document.

Does a limited power of attorney need to be notarized in Indiana?

The Limited Power of Attorney form must be notarized to be valid. 4.

authority to sell property sample

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Does a POA have to be notarized in Indiana?

To establish a valid POA in Indiana, the principal must be an adult of sound mind, and the document must be notarized. The POA should clearly outline the powers granted, any limitations, and include both the principals and agents information.

How long is a limited power of attorney good for?

How Long is a Limited Power of Attorney Good For? A Limited Power of Attorney is good for as long as you establish it. In contrast to a General POA, which expires only if you revoke it or once you pass away, Limited POAs are designed to be valid for a specific amount of time.