The Illinois real estate power of attorney form can be executed by a principal who wishes to hand over certain real estate powers to a trusted agent (also known as an attorney-in-fact). The agent will have the authority to manage any of the real estate matters detailed in the power of attorney document. These range from closing a sale or purchase of a property to long-term management of deeds, mortgages, and/or leases. It’s up to the principal to select the type of authority they wish to grant upon their agent. The agent should be somebody the principal trusts with these important duties, but they should also be well versed in real property law or at least property management.
Laws – 755 ILCS 45/3-4(a)
Signing Requirements – One (1) Witness and Notary Public (755 ILCS 45/3-3(b))
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