Agency
What is a power of attorney in Ohio real estate and when is it used?
AAn attorney's fee agreement
BA written document authorizing one person to act on another's behalf in real estate transactions✓ Correct
CA license to practice real estate law
DA document signed at closing by attorneys
Explanation
A power of attorney (POA) authorizes an attorney-in-fact to act on behalf of the principal in real estate transactions. Used when the owner cannot attend closing, is incapacitated, or is in military service abroad. Ohio law requires a specific form for POAs affecting real property.
Related Ohio Agency Questions
- Under Ohio agency law, an agent's duty of 'disclosure' to the principal includes disclosing:
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