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

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The document is a Special Power of Attorney form for closing a real estate transaction in New York. It authorizes an appointed Attorney-in-Fact to act on behalf of the principal in executing necessary documents for the sale and settlement of a specified property. The document outlines the powers granted, responsibilities of the agent, and includes sections for signatures, acknowledgments, and witness statements.
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A power is called limited if the holder of the power cannot exercise the power in favor of herself, her estate or the creditors of her estate. Because it is limited, the assets subject to the power dont get added to the power holders estate for estate tax purposes.
In New York, it is generally not advisable for the same attorney to represent both the buyer and the seller in a residential real estate transaction. Dual representation can lead to a conflict of interest, making it challenging to serve the best interests of both parties.
The requirement of a real estate lawyer at closing in New York is a testament to the legal complexities of property transactions. Whether you are buying your first home in Poughkeepsie or selling commercial property in the Hudson Valley, the Law Office of Taran M.
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.
Durable POAs are particularly useful for individuals planning for future incapacity, providing peace of mind that their affairs will be managed ing to their wishes without the need for court intervention.

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Power of Attorney for Real Estate Transactions (New York Statutory Short Form) A Standard Document power of attorney for use in a commercial or residential real estate transaction in New York State. A principal uses a power of attorney to designate an agent to execute documents and take other actions on their behalf.
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.

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Engaging in business includes, but is not limited to, the sale or rental of tangible personal or real property at retail or wholesale, the manufacturing of

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Law Offices of Lisa J. Allen, PLLC Page 1 GENERAL

(a) CAUTION TO THE PRINCIPAL: Your Power of Attorney is an important document. As the principal, you give the person whom you choose (your agent).

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F15: Power of Attorney

As the principal, you give the person whom you choose (your agent) authority to spend your money and sell or dispose of your property during your lifetime

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