A Delaware real estate power of attorney is a document that authorizes an agent to make real estate decisions and transactions on behalf of another individual (the “principal”). In the form, the principal will indicate the powers that the agent will be granted which may include purchasing, selling, managing, and refinancing the mortgage of a piece of property. The duration of the arrangement can be limited to the completion of one task, or it can continue in perpetuity to accommodate the hiring of a property manager. The principal can terminate the power of attorney at any time by revoking it in writing.
Statute – § 49A-204
Signing Requirements (§ 49A-105(a)(4) and (5)) – One (1) Witness and Notary Public
Delaware General Power of Attorney – Used when the agent needs to be given additional authority to manage the principal’s financial and business affairs.