New Mexico Real Estate Power of Attorney Form
A New Mexico real estate (property) power of attorney is a personal-use legal document used for giving a person (agent) the right to handle tasks pertaining to real property. Such tasks can include the right to purchase, sell, mortgage, refinance, rent out, or manage property in general. Anyone the principal wants can perform as the agent, although real estate agents and attorneys are common selections.
The form shares many similarities with a limited POA but differs in that it only includes language specific to real estate. Once completed, the form will need to be signed by the principal (property owner) and notarized. With a copy of the document in hand, the agent can present it to 3rd parties (such as a bank) whenever they need to act on behalf of the property’s owner. The form will terminate once the agent completes their tasks OR the principal terminates the contract by completing a revocation form.
Laws: § 45-5B-204
Agent’s duties: § 45-5B-114
Signing requirements (§ 45-5B-105) – New Mexico statutes require the form to be notarized.