Foreign Power of Attorney
I, [YOUR NAME], of legal age and residing at [YOUR COMPANY ADDRESS], in the county of [COUNTY], state of [STATE], do hereby appoint [ATTORNEY'S FULL NAME] of [ATTORNEY'S RESIDENTIAL ADDRESS], as my true and lawful attorney-in-fact.
I. REAL ESTATE TRANSACTIONS
In connection with the management, acquisition, or sale of real estate property located at [PROPERTY ADDRESS ABROAD], [ATTORNEY'S FULL NAME] shall have the authority to act on my behalf to conduct any affairs relating to the property, including but not limited to:
Executing any documents to effectuate the sale, exchange, lease, or other disposal of said property in the best of my interests;
Collecting, holding, and disbursing rents, profits, proceeds, and other incomes from the property;
Entering into contracts with any third parties about the property; and
Performing any other acts related to the management and control of the property.
II. Roles and Responsibilities Transferred to the Agent
Purchase of Real Estate: The Agent is authorized to initiate, negotiate, and execute contracts for the purchase of real estate properties located abroad on behalf of the Principal. This includes but is not limited to making offers, signing purchase agreements, and arranging for the transfer of funds.
Sale of Real Estate: The Agent is empowered to list, market, negotiate, and finalize contracts for the sale of real estate properties owned by the Principal and situated in foreign jurisdictions. This encompasses the authority to sign sales agreements, conveyance documents, and other necessary paperwork.
Property Management: The Agent is given the authority to manage, maintain, and oversee the Principal's real estate assets located abroad. This includes but is not limited to collecting rent, arranging for repairs and maintenance, paying property-related expenses, and entering into lease agreements.
Legal Representation: The Agent is authorized to represent the Principal in legal matters about real estate transactions abroad. This includes attending meetings, hearings, and other legal proceedings related to the acquisition, disposition, or management of real property.
Financial Management: The Agent is permitted to handle financial matters related to real estate transactions, including the disbursement and receipt of funds, opening and closing of bank accounts, and executing financial documents necessary for real estate transactions abroad.
III. TERM
This Power of Attorney shall become effective on the [DATE] and shall continue until [END DATE], or until it is expressly revoked, whichever comes first.
In witness whereof, the Principal has executed this Power of Attorney on [Date].
[YOUR NAME][Principal]
[DATE]
[ATTORNEY'S FULL NAME]
[DATE]
Witness Acknowledgement
We, the undersigned witnesses, hereby affirm that [Principal's Name] has signed this Power of Attorney in our presence, and we believe him/her to be of sound mind and under no duress.
[Witness Name][Witness 1]
[DATE]
[Witness Name][Witness 2]
[DATE]
Notary Acknowledgement
On this [DATE], before me, the undersigned notary public, personally appeared [Your Name], known to me (or satisfactorily proven) to be the person whose name is subscribed to the foregoing instrument, and acknowledged that he/she executed the same for the purposes therein contained.
[Notary Public Name]
[DATE]
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