A North Dakota real estate power of attorney allows the principal to select an agent who will be legally authorized to make real estate decisions and execute related documents on their behalf. This contract is commonly used for real estate transactions, either because the principal is unable to be present to complete the deal or because they simply wish to have it handled by a professional. The agent can also be authorized to refinance mortgages and manage properties in the principal’s name. If the power of attorney doesn’t have a set termination date, it will end in the event of the principal’s incapacity or death, or upon written revocation.
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