An Oklahoma real estate power of attorney is a document that lets an individual, the “principal,” nominate a representative, the “attorney-in-fact” or “agent,” to conduct real estate transactions on their behalf. The agent will perform services necessary to maintain the principal’s property, which often involves administering repairs, hiring contractors, executing rental agreements, and evicting tenants. It is also common for an agent to negotiate with buyers/sellers and handle closing procedures while the principal is absent. This particular POA can be either durable or non-durable, depending on the principal’s wishes. Should the document be made durable, the agent’s power does not end if the principal loses their mental competency.
- A power of attorney that authorizes an agent to transfer real property or execute a mortgage must be recorded with the Registrar of Deeds in the county where the property is located (§ 16-20).
Statute – § 15-1006
*Two (2) witnesses are only required for durable powers of attorney; however, witness signatures are recommended for non-durable powers of attorney as well.
Oklahoma General Power of Attorney – Authorizes an agent to manage the principal’s financial affairs, including their personal property, real estate, bank accounts, and governmental benefits.