A New Jersey real estate power of attorney is a legal contract that can be used by property owners to give agents the power to make real estate decisions on their behalf. The most common purpose of appointing a real estate agent is to close a real estate sale. However, an agent may also be appointed to be a property manager, real estate buyer, and/or mortgage refinancer. The principal can revoke the power of attorney at any time by issuing a written revocation. Otherwise, the contract remains valid until the termination date indicated therein, the principal becomes incapacitated, or when the principal dies.
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