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The Minnesota Real Estate Power of Attorney is a sufficient way to delegate personal authority associated with real property to another party. This means that you can appoint another individual to handle the buying, selling, financing, or management of a property when you are not available to do so yourself. All that needs to occur to put this into motion is the recording of the parties involved (principal & agent), the selection of powers, and the endorsement of the individual supplying the authority.

Laws

Statute – Real Property Transactions (§ 523.24(1))

Definition – “As used in this chapter, ‘power of attorney’ means a validly executed power of attorney.” (523.03(3))

Signing Requirements – In the case of a signature on behalf of the principal, by another, or by a mark, the acknowledgment of a notary public is required (§ 523.01). Even if the principal signs the document directly, it is still recommended to have the document notarized.

Revocation – “In real property transactions only, ‘actual notice of revocation’ means that a written instrument of revocation has been received by the party, or that a written instrument of revocation containing the legal description of the real property has been recorded in the office of the county recorder or filed in the office of the registrar of titles. Recorded or filed revocation is actual notice of revocation of a power of attorney only as to any interest in real property described in the revocation and located in the county where it is recorded.” (§ 523.11(2))