A North Carolina real estate power of attorney allows an individual (called the “principal”) to authorize an agent to manage, purchase, and sell real property on their behalf. In most cases, this type of contract is used to handle the closing of an individual real estate deal. In addition, the statutory form can grant authority over personal property and certain financial transactions. The contract should define an expiration date; if it does not, it will remain valid for up to one year from the effective date before termination.
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