A legal instrument that authorizes one person to act on behalf of another in a real estate transaction. Specifically, this authorization allows an individual to represent the principal (the person granting the power) in the final stages of buying or selling a property. For example, an individual deployed overseas may grant this authority to a trusted family member to complete the sale of their home in their absence.
This mechanism provides significant flexibility when circumstances prevent an individual from personally attending the finalization of a property transaction. It ensures the continuity of the process, avoiding potential delays and complications. Historically, such arrangements have been crucial in managing property matters when distance, illness, or other incapacitating factors hinder direct participation.
