Acceptance Of Power of Attorney
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Agreement and Acceptance
I, [AGENT'S FULL NAME], residing at [AGENT'S ADDRESS], hereby acknowledge and accept the authority granted to me as the attorney-in-fact by [YOUR NAME], residing at [YOUR ADDRESS], by the Property Management Power of Attorney document executed by the Principal on [DATE OF EXECUTION OF POWER OF ATTORNEY].
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I. SCOPE AUTHORITY
This Acceptance of Power of Attorney pertains specifically to the delegation of authority for property management matters as outlined in the Property Management Power of Attorney document executed by the Principal.
II. EFFECTIVE DATE AND DURATION
This Acceptance of Power of Attorney shall be effective immediately upon execution and shall remain in effect until revoked by the Principal or terminated by operation of law.
III. REVOCATION CLAUSE
The Principal reserves the right to revoke this Power of Attorney at any time by providing written notice to the Agent.
IV. SPECIFIC POWERS
The Agent is authorized to perform all acts necessary or incidental to the management and administration of the Principal's residential rental properties located at [ADDRESS OF RENTAL PROPERTIES], including but not limited to:
Collecting rent, issuing receipts, and handling tenant communications.
Signing and executing leases, rental agreements, and related documents on behalf of the Principal.
Managing repairs, maintenance, and renovations of the rental properties, including hiring contractors and approving expenditures within the budget.
Dealing with tenant issues, including addressing complaints, enforcing lease terms, and initiating eviction proceedings if necessary.
Handling financial matters related to the rental properties, including paying bills, taxes, insurance premiums, and mortgage payments.
Representing the Principal in legal proceedings related to the rental properties, including disputes with tenants, property damage claims, and regulatory matters.
V. LIMITATIONS AND DUTIES
The Agent acknowledges and agrees to the following limitations and duties:
The Agent shall exercise the powers granted under this Power of Attorney with the utmost care, diligence, and in the best interest of the Principal.
The Agent shall maintain accurate records of all transactions conducted on behalf of the Principal and shall provide regular updates to the Principal or their designated representative upon request.
The Agent shall refrain from commingling the Principal's funds or assets with their own and shall ensure that all transactions are conducted by applicable laws and regulations.
The Agent shall promptly notify the Principal of any material changes to circumstances that may affect their ability to fulfill their duties or the Principal's interests.
VI. INCAPACITY PROVISIONS
If the Principal becomes incapacitated or unable to make decisions regarding the management of the rental properties, the Agent's authority shall continue until the Principal regains capacity or until the Power of Attorney is revoked or terminated by operation of law.
VII. GOVERNING LAW
This Acceptance of Power of Attorney shall be governed by and construed by the laws of [JURISDICTION].
VIII. MISCELLANEOUS PROVISIONS
The Agent agrees to indemnify and hold harmless the Principal, their heirs, successors, and assigns from any claims, liabilities, damages, or expenses arising from the Agent's actions as attorney-in-fact, except those arising from the Principal's instructions or directions.
This Acceptance of Power of Attorney may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute the same instrument.
SIGNATURE SECTION:
Signed this [DAY] day of [MONTH, YEAR].
Principal:
[YOUR NAME]
Agent:
[AGENT'S NAME]
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NOTARY ACKNOWLEDGEMENT
State of [STATE]
County of [COUNTY]
Before me, this____ day of_____, in the year____, [AGENT'S FULL NAME], known to me (or satisfactorily proven) to be the person whose name is subscribed to within the instrument has appeared.
Witness my hand and official seal.
[NOTARY PUBLIC'S NAME]
My Commission Expires:___________
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