A power of attorney is a legal document giving one person the power to act for another person. This person can have broad legal authority or limited authority to make legal decisions about the other person's property, finances, or medical care.
Every state has different laws around using a power of attorney, this information is based on the North Carolina laws. The first type of POA that we discuss is a Durable POA which grants this person Broad Powers when you are not able to accomplish certain tasks yourself.
Another type is a Limited POA. This allows you to designate another person to handle just ONE specific property for you. This would exclude them from having access to your bank accounts or other private information.
There are many different scenarios that you may need a POA, so watch this video to learn more about this option in a Real Estate Transaction.
Real Estate Attorney Mooresville, NC Closing Attorney Mooresville, NC Ben Thomas - Real Estate Lawyer 31 years Tiffany Webber- Real Estate Lawyer 5 years Helping clients handle both residential and commercial real estate closings in Mooresville, NC.
