 | New York Real Estate ONLY Power of Attorney Form |
The New York real estate only power of attorney form is a document that is completed by a Principal to authorize an Agent the right to act on behalf of the Principal with regard to the sale, purchase, refinancing, management, transactions, or any other specified act stated by the Principal. Outside of the financial transactions directed by the Principal, regarding their property, no other access to the Principal’s finances will be authorized with this document. As well, there will be no powers granted to the Agent to make medical decisions on behalf of the Principal.
This document will require notarization and attestation by two witnesses. The Principal may revoke this document at any time, in writing and by delivery to the Agent(s)
How to Write
Step 1 – The Parties – Provide the following:
- The Principal’s full name
- The Principal’s address
- City and State of residence
- AND
- The name of the Agent
- The Agent’s street address
- City and State of Agent’s residence
Step 2 – Assignment of Authority – The Principal must select and initial one or more of the following:
- Sale of Real Estate
- Purchase of Real Estate
- Management of Real Estate
- Refinancing
Step 3 – Article III Term – The Principal must establish the Term of the document by selecting and initialing:
- A beginning and ending date
- The non-durable option would become immediately available upon the date of this document and would terminate when the Principal would either revoke the document become incapacitated, or at the time of the death of the Principal
- The durable option would become available immediately and only terminate if the document is revoked or by the death of the Principal
Step 4 – Article VI. Revocation and Signatures – to be signed before a notary public – Submit the following:
- Provide a date of revocation of this document in dd/mm/yyyy format
- Enter the Principal’s signature
- Provide the Principal’s printed name
- AND
- Enter the Agent’s Signature
- Enter the Agent’s printed name
Step 5 – Affirmation by Witnesses – The witnesses must read the affirmations. If in agreement:
- Print the name of the witnesses in each affirmation paragraph
- Each witness must enter their signatures
- Printed name
Step 6 – Notarization –
When the Notary Public has recorded the identifications of the signatories and witnessed the signatures, the notary will complete the remainder of the document in acknowledgement, affixing also, the official seal
Step 7 – Acceptance by Agent – The Agent must read the acceptance. If in agreement:
- Enter the Agent’s Signature
- Print Agent’s Name
