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).
- As per § 5602(c), the principal can file the power of attorney with an office of the Recorder of Deeds. In doing so, they demonstrate to banks and other parties that the agent is indeed authorized to conduct real estate transactions on their behalf.
Statute – § 5603(i)
Signing Requirements (§ 5601(b)) – Two (2) Witnesses and Notary Public
Pennysylvania 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.