North Carolina General Statutes 32C-3-303. Limited power of attorney for real property
While no particular phrasing is required for a limited power of attorney for transactions involving the purchase, sale, or financing of real property or tangible personal property related to real property, the following form may be used to create a limited power of attorney for transactions involving the purchase, sale, or financing of designated real property or tangible personal property related to the designated real property. The following form has as the meaning and effect prescribed by this Chapter:
“Return to:
NORTH CAROLINA
LIMITED POWER OF ATTORNEY FOR REAL PROPERTY
I, _______________________, name the following person as my agent:
(Name of Principal)
Name of Agent: ________________
For purposes of this power of attorney, the “Property” is all of that real property located in ________________ County, North Carolina, and known or identified as follows:
GRANT OF AUTHORITY
I grant my agent general authority to act for me with respect to the Property, all tangible personal property related to the Property, and all financial transactions relating to the Property. The authority granted to my agent pursuant to this power of attorney expressly includes the following:
(1) The authority to act with respect to real property as set forth in Section 32C-2-204 of the North Carolina General Statutes;
Terms Used In North Carolina General Statutes 32C-3-303
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Personal property: All property that is not real property.
- personal property: shall include moneys, goods, chattels, choses in action and evidences of debt, including all things capable of ownership, not descendable to heirs at law. See North Carolina General Statutes 12-3
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
(2) The authority to act with respect to tangible personal property as set forth in Section 32C-2-205 of the North Carolina General Statutes; and
(3) The authority to act with respect to banks and other financial institutions as set forth in Section 32C-2-208 of the North Carolina General Statutes.
The authority granted to my agent pursuant to this power of attorney may be exercised by my agent even though the exercise of that authority may benefit the agent or a person to whom the agent owes an obligation of support.
EFFECTIVE DATE; AUTOMATIC EXPIRATION
This power of attorney is effective immediately. The authority of my agent to act on my behalf pursuant to this power of attorney will automatically expire on ________ (or, if no date is specified, one year from the date of this power of attorney). Actions taken by my agent on my behalf pursuant to this power of attorney while this power of attorney remains in effect shall continue to bind me even after my agent’s authority expires.
RELIANCE ON THIS POWER OF ATTORNEY
Any person, including my agent, may rely upon the validity of this power of attorney or a copy of it unless that person knows it has terminated or is invalid.
MEANING AND EFFECT
The meaning and effect of this power of attorney shall for all purposes be determined by the law of the State of North Carolina.
SIGNATURE AND ACKNOWLEDGMENT
______________________ _______________________
Your Signature Date
______________________
Your Name Printed
State of ________________, County of ___________________.
I certify that the following person personally appeared before me this day, acknowledging to me that he or she signed the foregoing document: ________________.
Date: __________________ _______________________________
Signature of Notary Public
(Official Seal)
__________________, Notary Public
Printed or typed name
My commission expires: ______________________________