POA For Real Estate - notary-dubai.com

POWER OF ATTORNEY FOR REAL ESTATE

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POWER OF ATTORNEY FOR PROPERTY MANAGEMENT

A Power of Attorney for Property Management allows you to appoint another person or entity (also known as an “agent” or “attorney-in-fact”) to manage your real estate properties. This POA does not empower the agent to buy or sell a real estate on your behalf. Using the POA for Property Management, you can authorize your real estate agent, relative or friend to rent out your apartment or office, sign tenancy agreements, receive rental payments, maintain your apartments, and represent you before government authorities or private entities in relation to your real estate properties. Such POA is normally given to a real estate broker, real estate management companies or your relatives or friends who can perform the above tasks on behalf of you.

This type of Power of Attorney is ideal for appointing an agent or friend to manage your real estates, without granting the broad powers such as sale or transfer.

POWER OF ATTORNEY FOR PROPERTY SALE

A Power of Attorney for Property Sale allows you to appoint another person or entity to sell your real estate property on behalf of you. If you need to travel or have no time to go through the formalities of selling a real estate, you may consider giving a Power of Attorney to another trusted person or entity, such as our firm, who can handle the formalities for you.

As per the Dubai Land Department (DLD) rules, a POA for Property Sale must not be more than 2 years old. If a POA has been executed, the document has to be used within two years from the date it has come into effect. Otherwise, re-validation of a POA would be required.

There are several other limitation with regards to such POA, which have been implemented by concerned real estate authorities to protect the real estate owners and prevent misuse of the POA.

Since not too long ago, it has been aloowed to give a POA for Property Sale/Purchase to real estate brokers.

In a Power of Attorney for selling a real estate, the property details must be specified in the POA and you need to have ownership documents such as a Title Deed in your name.

POWER OF ATTORNEY FOR PROPERTY BUYING

A Power of Attorney for Property Buying allows you to appoint another person or entity to buy real estate properties on behalf of you. If you are outside the country or simply have no time to go through the formalities of buying a real estate, you may consider giving a Power of Attorney to another person or entity, such as our firm, who can handle the formalities for you.

Since not too long ago, a POA for Buying/Selling a real estate can be given to real estate brokers or persons holding real estate related positions.