An Oklahoma real estate power of attorney is most frequently used by individuals to handle real estate closings for the purchase or sale of a property. The contract allows the principal (the creator) to appoint an agent who will be authorized to make real estate decisions and execute legal documents on the principal’s behalf. In addition to being used for real estate transactions, the principal can use this form to authorize a property manager to oversee a rental property and its tenants.
This form can also be used to assign a financial agent to refinance mortgages in the principal’s name. Once the power of attorney has been properly executed, it becomes effective until it terminates or is revoked. Although a notary acknowledgment isn’t required, it is included on the statutory form.
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