 | Kentucky Real Estate ONLY Power of Attorney Form |
The Kentucky real estate only power of attorney form is a legal document that would be prepared by a Principal to provide written permission for an Agent, to do business on behalf of the Principal. The agent would have the ability to purchase, sell, refinance a mortgage or manage the Principal’s property in their absence or in the event the Principal would become ill. Regardless, the Agent must conduct business with the Principal’s property as if they are available to make their own decisions.
This document will not allow the Agent the ability to access or work with the Principal’s financial accounts, nor would the Agent have the ability to make medical decisions on behalf of the Principal. This document will require notarization upon completion. The Principal may certainly revoke this document at any time.
How to Write
Step 1 – Parties Information – Enter the following information:
- The Principal’s full name
- The Principals Address
- City
- State
- AND
- Enter the full name of the elected Agent
- Enter the Agent’s Address
- City
- State
Step 2 – Article I -Assignment of Authority – Select one, more or all of the following powers according to what powers the Principal would like to grant to the Agent:
- Sale of Real Estate
- Purchase of Real Estate
- Management of Real Estate
- Refinancing
Step 3 – Article III – Term – This section would require the Principal to establish a term of the document. Select from the following, selecting only one option:
- Select to only have a commencement and termination date
- Should the Principal choose to provide a non-durable option -The document would become available immediately and would not terminate unless and until the Principal becomes incapacitates or passes away
- If the Principal feels that a durable option would be necessary, then the effective date would be immediate and would only terminate upon the death of the Principal
Step 4 – Article VI. Revocation – Signatures – Must be witnessed before a Notary Public:
- Enter the date of the signatures in dd/mm/yyyy format
- Submit the Principal’s signature
- Printed name
- AND
- Agent must submit their signature
- Printed name
Step 5 – Notarization –
- Once the notary has witness the parties signatures, the notary may then acknowledge the document by providing their required information and affixing an official notary stamp or seal (if any)
