Are you moving far away, worried about your property and who’ll look after it as if his own, or do you want to entrust it to someone who can take better care of it? Whatever your reason may be, you would have to draft out a formal, concise and specific power of attorney letter. You do not have to depend on your lawyer to write it for you. In fact, all he has to do is check to see if everything is in accordance with the law of the state you live in.
Here are some things to keep in mind while writing a power of attorney letter for your property.
Identification and verification
Include the names and addresses of the owner, the “attorney” or one who is receiving power over the property of interest, and the witnesses present. Make sure all your bases are covered and there are no gaps. This is in case the witnesses have to be verified or the authenticity of the letter is in question.
Know what you are giving
Do you want to give partial, full or specific control to the attorney regarding your property? Will he have the power to alter, sell or destroy said property? You will have to mention all the things the attorney will be allowed to do; your language must be exact and it must encompass all the rights you are giving over and leave nothing vague. Mention if the attorney can live in, rent, sell, alter, manage, improve, exchange or dispose of your property. If you wish to go into details you may, for example, you could specify which forms of alteration are acceptable and which are not. The power is in your hands, and you decide how much of it to give.
Do your research
Before writing the letter, check the requirements of the state you reside in, including the level of formality and the documents required. Once you have written your letter, have your lawyer evaluate it for you. The format of the letter is different according to state and sometimes, county.
The general format of a power of attorney letter Includes:
1. A heading, like any business document, in which the owner of the property declares him or herself, the attorney, and the property in question along with all names and addresses. The date should be included and the date of the turnover of power is mentioned as well if it is different from the date the letter is signed.
2. A main body, including all the details of the rights and powers and duties of the attorney. You may also add weather the power is transferred in special cases, such as in the event that you become physically or mentally incapacitated, or if it is valid after your death or the fixed time period of the effectiveness of the document.
November 24, 2016
To whom it may concern
I, John Smith, resident of 85 West Street, San Diego, CA do hereby give power of attorney of below mentioned properties to my wife Maira John, enabling her to take all of the rights and duties mentioned in this letter, what is lawful by this document and the state of California and what is caused to be done within the parameters of this document with regard to the following properties:
1. 65 Alex Street, San Jose, CA (Detail of Property)
2. Apt 851, City Heights, San Francisco, CA (Detail of Property)
Maira John can and will:
1. Have the right to alter or improve the properties entrusted to her under the empowerment of this letter. She may rent or sell the properties as she pleases under the parameters of the state.
2. Have to pay all bills, collect rent if given on rent, pay for all repairs and or alterations to the properties and pay the mortgage or leases of the properties.
3. Sign on all documents with regards to these properties in my stead.
4. Sue or take legal action on a case concerning these properties in my stead.
5. Have to maintain the properties in a presentable state, even if it has been leased for rent. The only exception to this is if the property has been sold and the aesthetics are out of the attorney’s hand.
6. Negotiate and make decisions regarding the properties with any third party in my stead.
7. Have the right to keep or use any monetary profit from the properties, whether it be rented or sold. However, the principal amount of the property will be returned to the owner or his/her next of kin, in the event of decease.
This document is now in power until it has been cancelled by the owner for any reason he chooses and will be in power after his death.
Owner’s Signature and Thumb Impression: __________________
Attorney’s Signature and Thumb Impression: _________________
Full name of first witness: _____________________
Address of first witness: ________________________________
Signature and thumb impression of first witness: _____________________
Full name of second witness: ___________________
Address of second witness: ____________________________
Signature and thumb impression of second witness: ___________________