FreeWill’s Durable Financial Power of Attorney Tool & Real Estate Powers
What does it mean for my agent to be able to manage my real estate?
This power generally allows your agent to manage all aspects of your real estate, including
- renting or selling that property,
- paying for repairs or renovations, and
- engaging real estate agents to help carry out transactions.
Do I need to take any special steps to make sure my agent can sell, mortgage, or otherwise transfer my interest in my real estate?
Yes. Principals that grant this power to their agent must take an extra step after their DFPA is signed and notarized - they need to put their DFPA on file in the public records with the local land records office where the principal’s real estate property is located. FreeWill’s instructions provided upon completion of your DFPA will explain this step to you in greater detail.
FreeWill’s DFPA tool also allows you to select the size of top margins:
When a DFPA is filed with a records office, filing stamps are typically applied. To make room for these filing stamps, some records offices require DFPAs to have top margins of a certain size. If your local records office requires documents to have specific top margins, use this question to select the necessary margin size. If you are unsure whether your land records office requires specific margins, you may wish to contact them.
Disclaimer: FreeWill is not a law firm and does not provide legal advice. While FreeWill strives to ensure that its automated services are complete, they are meant purely as self-help forms. The materials and services are not substitutes for the advice of an attorney.