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.
Statute – 58 O.S. § 3027
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.