A Pennsylvania real estate power of attorney is a document that authorizes an agent, or “attorney-in-fact,” to engage in real estate transactions for a principal (the person granting authority). Through a power of attorney, the agent can collect and deposit rent payments, sign leases, buy and sell property, perform renovations, and exercise other real estate powers with the same authority as the principal.
Before nominating a representative, the principal should consider whether the agent is trustworthy and capable of fulfilling their role. They must also determine whether the agent’s powers are durable or non-durable (durable powers of attorney do not terminate if the principal becomes incapacitated).
Statute – § 5603(i)
Signing Requirements (§ 5601(b)) – Two (2) Witnesses and Notary Public
Pennsylvania General Power of Attorney – Used to grant an agent the authority to manage the principal’s financial affairs, such as their bank accounts and personal property.