There are many situations where a person needs to sell a piece of real estate in a state they are not currently in. Having to travel back and forth to sign closing documents during a real estate closing can be arduous and an inconvenience.
There are many people who need to sell their house because they are being relocated through employment, sometimes to the other side of the country, they are moving to be closer to family, or they simply own a second piece of real estate in another state that they no longer wish to own. Often, sellers cannot attend a real estate closing in New Hampshire because they already reside in a different state.
In that instance, a client can execute a Limited Power of Attorney purely for the purpose of allowing their power of attorney, in other words, their agent, to sign real estate closing documents on their behalf. A Limited Power of Attorney is just that: it limits the agent’s authority to specific situations or specific abilities. Often, the client appoints their legal attorney as their agent to attend the closing and sign any and all required documents to complete the closing. The benefit of doing this is, of course, the convenience of having somebody attend the closing in New Hampshire while the seller is unable.
The most important feature of a Limited Power of Attorney is that upon completing the real estate closing, the agent’s authority is automatically revoked through specific language in the document, and the agent is no longer able to sign any documents on their client’s behalf. Since the authority is automatically revoked, there is no need to complete additional legal documentation to revoke, or “undo,” the Limited Power of Attorney.
The use of a Limited Power of Attorney is an easy method that simplifies a potential difficult process. If you need to sell your house but are unable to attend the closing, speak with an attorney who can utilize a Limited Power of Attorney and complete that transaction with limited hassle.
Andrea Nelson is an attorney at Hamblett & Kerrigan who focuses her practice in the area of estate planning, including wills, trusts, health and financial powers of attorney. Attorney Nelson can be reached at [email protected].