New York Statutory Power of Attorney
This Power of Attorney is made and executed on [date], by [Principal's Name], residing at [Principal's Address], hereinafter referred to as the "Principal", in favor of [Agent's Name], residing at [Agent's Address], hereinafter referred to as the "Agent".
Roles and Responsibilities Transferred to the Agent
Real Estate Purchases and Sales: The Agent shall have the authority to enter into contracts for the purchase or sale of real estate on behalf of the Principal. This includes negotiating terms, signing agreements, and executing all necessary documents related to such transactions.
Property Management: The Agent is authorized to manage all aspects of the Principal's real estate properties, including but not limited to leasing, renting, and maintenance. This encompasses collecting rent, signing leases, arranging repairs, and ensuring compliance with local regulations.
Mortgage and Financing: The Agent is empowered to obtain mortgages, loans, or other forms of financing secured by the Principal's real estate properties. This includes negotiating terms, signing documents, and executing necessary agreements with financial institutions or lenders.
Property Tax Matters: The Agent shall handle all matters related to property taxes on behalf of the Principal. This involves filing tax returns, making tax payments, contesting assessments, and representing the Principal in any proceedings or appeals related to property taxes.
Legal Representation: The Agent is authorized to represent the Principal in legal proceedings or disputes concerning real estate matters. This includes hiring attorneys, initiating or defending lawsuits, attending hearings, and settling claims on behalf of the Principal.
Signature
In witness whereof, the Principal has hereunto set their hand and seal on the date first above written.
[Principal's Name]
[Date Signed]
[Agent's Name]
[Date Signed]
Revocation and Termination
The Principal reserves the right to revoke or terminate this Power of Attorney at any time, provided that such revocation is executed in writing and delivered to the Agent. Additionally, the Power of Attorney shall automatically terminate upon the death, incapacity, or legal incompetence of the Principal.
Governing Law and Jurisdiction
Any disputes arising out of or relating to this Power of Attorney shall be governed by the laws of the State of New York. The parties hereby submit to the exclusive jurisdiction of the courts of the State of New York for the resolution of any such disputes.
Witness Acknowledgement
We, the undersigned witnesses, certify that the Principal signed or acknowledged this Power of Attorney in our presence and that we, in turn, sign this document as witnesses at the request of the Principal and in the presence of each other.
Witness 1:
[Witness 1: Full Name]
[Date Signed]
Witness 2:
[Witness 2: Full Name]
[Date Signed]
Notary Acknowledgement
State of New York,
On this _____ day of [Month], [Year], before me, a Notary Public in and for said State, personally appeared [Principal's Name], known to me (or proved to me based on satisfactory evidence) to be the person whose name is subscribed to the within instrument, and acknowledged to me that they executed the same in their authorized capacity and that by their signature on the instrument, the person or the entity upon behalf of which the person acted, executed the instrument.
[Notary Public's Name]
My Commission Expires [Date], the [Day] of [Month], [Year].
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