Things you need to know about Special Power of Attorney to Sell Immovable Property.

1. What is a Special Power of Attorney to Sell? 

A Special Power of Attorney to Sell allows a person (the “agent”) to sell property on another person’s behalf (the “principal”).  The agent can sell the property specified in the power of attorney under terms he deems most beneficial to the principal.

2. When do you need a Special Power of Attorney to Sell?

A Special Power of Attorney to Sell is necessary if you wish to appoint another person to sell property on your behalf.  

A Special Power of Attorney to Sell is normally executed when the principal is unable to sell the property on his own and will need an agent to act on his behalf.   However, it may also be executed even if the principal is not incapacitated and just wishes to appoint an agent to sell the property.

3. How can a Special Power of Attorney to Sell benefit you?

A Special Power of Attorney to Sell serves as written proof that the agent has authority to sell the property on the principal’s behalf.  Potential buyers will be apprehensive about buying the property from persons who are not the registered owners thereof without written proof that the agent is authorized to act on the registered owner’s behalf.  The Special Power of Attorney to Sell can serve this purpose.

The Special Power of Attorney to Sell also serves as proof that the sales proceeds, once the property is sold, belongs to the principal and not the agent.

4. What is the difference between a Special Power of Attorney to Sell and a General Power of Attorney?

Both powers of attorney are used to appoint an agent to act on the principal’s behalf.  However, they are different in terms of the nature of powers granted.  A General Power of Attorney is used to grant the agent broad powers to handle the principal’s affairs.  On the other hand, a Special Power of Attorney to Sell is used solely to grant the agent the power to sell property on the principal’s behalf.  

5. What information do you need to create a Special Power of Attorney to Sell?

To create your Special Power of Attorney to Sell you’ll need the following minimum information:

1. The type of principal (i.e. individual or business) as well as name and details (i.e. nationality and address)
2. The type of agent (i.e. individual or business) as well as name and details (i.e. nationality and address)
3. Brief description of the property to be sold