A Minnesota real estate power of attorney form is a legal tool used to designate authority to an individual for the management of real estate transactions. The party accepting authority (the agent) will have permission from the property owner (the principal) to perform specific tasks relating to their real estate.
Depending on the principal’s needs, the agent may be asked to execute leases, negotiate rent prices, evict tenants, purchase or sell property, make repairs, and refinance debts (see § 523.24 for a description of all acts permitted by law). This power of attorney may be made “durable” if desired, meaning that the agent’s authority remains valid if the principal becomes incapacitated.
Laws – § 523.24
Signing Requirements – Notary Public (§ 523.01)
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