Updated on October 28th, 2021
A Michigan real estate power of attorney grants the principal’s agent the power to act on their behalf with regard to a real property. The acts that the agent is authorized to carry out are purchasing, selling, managing, and refinancing the property. If the principal wants their agent to handle this property even in the event of their incapacitation, they can express this under Article 3 of the document. Otherwise, the power of attorney will terminate automatically upon a signed revocation, a termination date established on the form, or upon the principal’s death. An agent appointed by a real estate power of attorney does not have the power to act on the principal’s behalf in any other affairs.
Signing Requirements (§ 700.5501(2)) – Two (2) Witnesses or Notary Public
Michigan General Power of Attorney – A non-durable power of attorney used to grant an agent the power to act on the principal’s behalf in financial or estate-related affairs.