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A Special Power of Attorney to Sell allows a person (the “agent”) to sell property on another person’s behalf (the “principal”). The agent can sell the property specified in the power of attorney under terms he deems most beneficial to the principal.
A Special Power of Attorney to Sell is necessary if you wish to appoint another person to sell property on your behalf.
A Special Power of Attorney to Sell is normally executed when the principal is unable to sell the property on his own and will need an agent to act on his behalf. However, it may also be executed even if the principal is not incapacitated and just wishes to appoint an agent to sell the property.
A Special Power of Attorney to Sell serves as written proof that the agent has authority to sell the property on the principal’s behalf. Potential buyers will be apprehensive about buying the property from persons who are not the registered owners thereof without written proof that the agent is authorized to act on the registered owner’s behalf. The Special Power of Attorney to Sell can serve this purpose.
The Special Power of Attorney to Sell also serves as proof that the purchase price, once the property is sold, belongs to the principal and not the agent.
Both powers of attorney are used to appoint an agent to act on the principal’s behalf. However, they are different in terms of the nature of powers granted. A General Power of Attorney is used to grant the agent broad powers to handle the principal’s affairs. On the other hand, a Special Power of Attorney to Sell is used solely to grant the agent the power to sell property on the principal’s behalf.
To create your Special Power of Attorney to Sell you’ll need the following minimum information:
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Activities that involve a Special Power of Attorney to Sell Property sometimes use the following documents. You may be interested in them: