A financial power of attorney provides the designated agent, oftentimes called "attorney in fact," with the authority to undertake a variety of tasks on behalf of the grantor, the person who created the power of attorney. A financial power of attorney gives authority to the agent to deal with a wide array of financial issues in most cases. (A power of attorney can be limited. Usually, a person grants a general financial power of attorney, however.) As part of her duties, an agent needs to understand how to execute a deed by power of attorney.
Obtain the original power of attorney. The agent must have possession of the original power of attorney form in order to undertake his duties. Typically when a person grants a financial power of attorney to an agent, the agent receives an original copy of the financial power of attorney at that time.
Prepare the deed form itself. The deed is prepared in the same manner whether or not a power of attorney is being utilized. A deed form can be obtained from the local register of deeds office, or from an office supply store that trades in commonly used forms.
Execute the deed. In executing the deed by power of attorney, the standard way of signing the document is:
Jane Doe, POA for Robert Doe
Attach a copy of the financial power of attorney document to the deed. Most registers of deeds want a copy of the power of attorney itself appended to the deed in the event there are any questions in regard to the manner in which the deed was executed.
- The signature on a deed by an agent with alleged authority under a power of attorney can be deemed invalid in some instances. For example, if the power of attorney itself is not properly signed in first place, the agent does not have the authority under the law to sign a deed. The power of attorney must be signed by the grantor in front of a notary public. The grantor must be competent at the time he signed the power of attorney document.
- "Powers of Attorney Simplified;" Daniel Sitarz; 2007
- "The Real Estate Investor's Handbook: The Complete Guide for the Individual Investor;" Steven D. Fisher; 2006