Pennsylvania Real Estate Power of Attorney Form
A Pennsylvania Real Estate (Property) Power of Attorney is a legal contract used for giving a person the right to handle their real estate affairs out of their presence. The form acts as instructions for the “Agent” (the person being given permission), specifying exactly what responsibilities they will have in respect to the real estate.
When fulfilling their role, the Agent must act in compliance with the specific instructions provided in the contract; as deviating from their role can result in serious legal consequences. The Principal (the person completing the form) can provide their agent with encompassing powers over their property, or can limit their Agent to only collecting rent from tenants (for example).
Example use-case: Sally owns three rental properties and she’s leaving on vacation for two weeks. During this time, she won’t be able to collect rent, deposit it into her bank account, sign lease agreements, and other property management tasks. To keep her properties up and running, she asks her friend Jim to handle these tasks. To make sure the bank (and other institutions) allow Jim to represent her, Sally can sign a POA to give Jim the needed authorization. Once Sally arrives back home, she can complete a revocation of POA to terminate the contract, thus removing Jim’s powers.
Laws – § 5603(i)