Colorado Real Estate Power of Attorney Form | Form 13101
The Colorado Real Estate (Property) Power of Attorney (Form 13101) is an official state-provided form, that once completed by an adult who owns property in Colorado (the principal), legally permits an individual (referred to as the agent) to handle the management of the principal’s property-related matters. The law § 15-14-727 states that unless there is language to the contrary, responsibilities will include tasks as buying, selling, and leasing real property, pledging or mortgaging an interest in real property, and/or purchasing supplies and making repairs to said property.
State Laws & Signing Requirements
State Laws: Uniform Power of Attorney Act
Signing Requirements (§ 15-14-705): To be legally binding, the form needs to be signed by the person completing it (the principal), the agent, and acknowledged by a notary public (or a similarly authorized individual).
Duties of the Agent: The agent, after signing the POA, will be required to satisfy several duties as required by law. Said duties require that the agent:
- Act in good faith;
- Only make decisions that the principal reasonably expects to be made. If the agent is unsure of what the principal would want, only make decisions with their best interests in mind;
- Stay within the authority granted by the POA; and
- Always disclose themselves as the agent when making decisions and/or acting as the principal. When signing as the principal, the signature should be made in the following format: “Principal’s Name by Agent’s Signature as agent.”