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Real Estate Power Of Attorney Minnesota

Most states will recognize any POA that is validly signed in another state. So if you make a valid document while living in one state and then move to another state, your document will still be valid in your new state of residence. However, it may be a good opportunity to update your document and prevent it from being “stale”.

In addition, if you ever become incapacitated, without this document, even if you have a spouse, the court may need to step in and appoint a guardian or conservator for you. The process of appointing a guardian is costly and requires the guardian to formally report your situation to the court each year. CNN Money estimates that the process of obtaining a court appointed guardian exceeds $1,000. If this is the situation you find yourself in now, please read our guide about getting guardianship over your elderly parent here.

A Power of Attorney is also not like a bilateral agreement, it is more of a unilateral description of what authority is permitted by the principal.

A Springing or Conditional POA only goes into effect if a certain event or condition occurs. It can end at a specific time, when you become incapacitated or when you die.

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