Oklahoma Real Estate (Property) Power of Attorney Form
Should an individual seek to offload one or more real estate matters to another party to responsibly handle on their behalf, they should write down the details of this agreement in an Oklahoma Real Estate (Property) Power of Attorney. In doing so, the individual (as the “Principal” to the Power of Attorney) will enter into a legally-binding relationship with the other party, their “Attorney-in-Fact.” A legally-binding relationship in this context will mean that the Principal and the Attorney-in-Fact will both be given particular rights and responsibilities attached to their respective roles within the contract.
State Laws & Signing Requirements
State Laws – Uniform Durable Power of Attorney Act
Signing Requirements (§ 58-1072.2) – In order for a Real Estate Power of Attorney that is of a durable type to be legally executed, the following must be held true:
- The Principal has signed the Power of Attorney, and
- The signing took place in the presence of two (2) valid witnesses, who must also sign the form.
State law, however does not list any signing requirements for a Real Estate Power of Attorney that is of a non-durable type to be executed. However, it is in the Principal’s best interests to implement certain procedures when signing the document to safeguard their rights. The signing requirements that are stated above for a Durable Power of Attorney are thus recommended to be followed.