Special Power of Attorney for Real Property Transactions, Summaries of Law

Download Special Power of Attorney for Real Property Transactions and more Summaries Law in PDF only on Docsity! RECORDING REQUESTED BY AND WHEN RECORDED MAIL DOCUMENT TO: Space Above This Line for Recorder’s Use Only A.P.N.: _____________________ File No.: ________________ SPECIAL POWER OF ATTORNEY I,__________________________ , hereby constitute and appoint __________________________ as my true and lawful attorney-in-fact ("Agent") to act for me and in my name, place and stead to do any of the following but only with respect to transactions involving the Real Property (as defined below): (a) To ask, demand, sue for, recover, collect and receive each and every sum of money, debts, accounts, interests, dividends, annuities and demands whatsoever now is or hereafter shall become due, owing or payable or belonging to or claimed by me, and have, use and take any lawful ways and means, for the recovery thereof by legal process, and to compromise and agree for the same, and grant terminations, releases or other sufficient discharges for same; (b) To compromise any and all debts owing by me, and to convey, transfer, and/or assign any property of any kind or character belonging to me in satisfaction of any debt owing by me; (c) To bargain, contract, agree for, purchase, receive, and take lands, tenements, hereditaments and accept the seizure and possession of all lands, all deeds and other assurances in the law for same; (d) To lease, demise, bargain, sell, remise, release, convey, mortgage, and convey in trust, any hypothecated lands, tenements, and hereditaments, upon such terms and conditions, and under such covenants as my Agent shall determine as appropriate; (e) To exchange real or personal property for other real or personal property, and to execute and deliver the necessary instructions for transfer or conveyance to consummate such exchange; (f) To execute and deliver subordination agreements subordinating any lien, encumbrance or their right in real or personal property to any other lien, encumbrance, or other right therein; (g) To bargain and agree for, buy, sell, mortgage, hypothecate, convey in trust or otherwise, and in any and every way and manner deal in and with personal property, goods, chooses in action and other property in possession or in action, including authority to utilize my eligibility for VA Guaranty; and (h) To sign, seal, execute, deliver and acknowledge such deeds, covenants, leases, indentures, contracts, agreements, indemnity agreements, escrow instructions, mortgages, deeds of trust, hypothecations, assignments, bills, bonds, notes, receipts, evidences of debts, releases and satisfactions of mortgage, judgments and other debts, reconveyances of deeds of trust, and such other instruments in writing, of whatever kind of nature, as may be reasonable, advisable, necessary, or proper with respect to the Real Property or any transaction pertaining to the Real Property. EACH AND ALL OF THE POWERS GRANTED HEREIN SHALL BE EXERCISED BY MY AGENT ONLY AS TO TRANSACTIONS INVOLVING THE FOLLOWING DESCRIBED REAL PROPERTY ("Real Property"): Page 1 of 3 A.P.N.: _____________________ Special Power of Attorney - continued File No.: ________________ Commonly known as: ____________________________________, CA I GIVE AND GRANT to my Agent full power and authority to do and perform all and every act and thing whatsoever requisite, necessary or appropriate to be done involving the Real Property as fully to all intent and purposes as I might or could do if personally present, hereby expressly ratifying and confirming all that my Agent shall lawfully do or cause to be done by virtue of this grant of authority. This Special Power of Attorney will automatically terminate ninety (90) days from the date of this Special Power of Attorney as indicated below ("Termination Date"). (If you do not want this Special Power of Attorney to automatically terminate, you must cross out the foregoing sentence and initial beside it.) I understand and agree that (a) any third party who receives a copy of this document may act in reliance on it; and (b) that revocation of this Special Power of Attorney prior to the Termination Date is not effective as to a third party until the third party has actual knowledge of the revocation. I agree to indemnify the third party for any claims that arise against the third party because of reliance on this Special Power of Attorney. I UNDERSTAND AND AGREE THAT THIS DOCUMENT MAY BE RECORDED IN THE PUBLIC RECORDS FOR REAL PROPERTY TRANSACTIONS AND IF IT IS RECORDED, I UNDERSTAND THAT TO EFFECTIVELY REVOKE PRIOR TO THE TERMINATION DATE WILL REQUIRE THAT I RECORD THE REVOCATION. IT IS RECOMMENDED THAT YOU CONSULT LEGAL COUNSEL BEFORE EXECUTING THIS DOCUMENT. Dated: ________________ ___________________________________________ Page 2 of 3